IHT Portfolios Brokers are focusing on investment portfolios suitable to families likely to suffer from inheritance tax, can shorten time transfers are free of IHT from seven to two years 28.09.05 Telegraph, Financial Services Links
Shell Tax Shell has bowed to pressure and agreed to offer tax-efficient merger deal to unsettled UK shareholders, but risks upsetting those who accepted prior terms and now face big tax bills 21.09.05 Telegraph, Capital Markets Links, Shell Links
Spouse Tax Master of the Rolls Lord Phillips has delayed hearing of Arctic appeal until January, ending hopes of decision prior to self-assessment deadline, family businesses could be liable for £1b back tax under S660A 15.09.05 Telegraph, Arctic Case Links
Shell Tax Merger of UK and Dutch sides of oil major Shell has saved firm £2b, but UK shareholder are left with £770m tax bill, attempting to block formal approval of deal 09.09.05 Telegraph, Capital Markets Links, Shell Links
Fiscal Films Pinewood-Shepperton say losses due to 'outside factors', in particular uncertainty over tax breaks for films made in the UK 01.09.05 Telegraph
Tax Shelters Savings Directive unlikely to stop practice of hiding assets offshoreBBC Gibraltar is to take European Commission to court over ruling that it should not run tax regime more favourable than UK 04.07.05 Telegraph, Tax Shelters
HMRC Public Accounts committee excoriates HMRC over sale of property to Mapeley, went directly for cheapest bid, failed to ask key questions, saw business moved quickly offshore, denying Treasury of capital gains 14.06.05 ePolitix, PFI - PPP
New Rules for MSCs In December 2006 and February 2007 the govt published details of a new regime whereby all payments received by in respect of services provided through a managed services company (MSC) would be treated as employment income subject to PAYE and NIC 11.04.07 Michael Simkins, Employment Law
New Venture Investment Rules As part of his 2007 Budget, chancellor announced new qualifying company rules for the Enterprise Investment Scheme (EIS), the Corporate Venturing Scheme (CVS) and the Venture Capital Trust (VCT) scheme, new rules will affect companies attracting investment 24.03.07 Michael Simkins, Budget 2007, Capital Markets, Entertainment Law
Tax on Occupational Pensions The Revenue has published revised guidance on the test for determining whether employer contributions to occupational pension schemes are tax deductible, guidance is in the Business Income Manual 03.03.07 Law Now, Employment Law, Pensions
EU Dividend Withholding Tax ECJ has given its decision in Denkavit (C170/05), case concerned French law, which levied a withholding tax on dividends paid by a French company to its Dutch parent but not on dividends paid to a French parent, was in breach of EU law 17.12.06 Law Now, Company Tax, EU Tax
VAT on Football Agent Fees Newcastle United faces a substantial tax bill for player transfers and contract renewals following Newcastle United plc v Commissioners for HMRC [2006] UKVAT V19718, tribunal dismissed club's appeal, finding that VAT paid by the Club when paying agents' fees was not recoverable 14.12.06 Michael Simkins, Sports Law, VAT
Simpler System for Company Tax HMRC publication, 'Delivering a new relationship with business', details a package of reforms designed to allow businesses to settle their tax affairs sooner, reduce burden of forms and inspections and to develop a single customer record 30.11.06 HM Revenue & Customs, Business Regulation, Company Tax
Varney Report Promises Simpler Tax Rules Chancellor said today he will implement in full recommendations of the Review of Links with Large Business, led by Sir David Varney, recommends HMRC provides big businesses with increased and quicker assurance on the tax treatment of their activities, risk-based audit approach 17.11.06 HMRC Press Release, Business Regulation, Company Tax
VAT on Credit Handling Services HMRC has revised policy on the VAT liability of credit and debit card handling services supplied by agents, following the end of litigation in the cases of Bookit Ltd (Bookit) and Scottish Exhibition Centre Ltd (SEC) 03.11.06 HMRC Business Brief, Consumer Credit, VAT
VAT Business Brief 17/06 HMRC Business Brief, VAT partial exemption for bookmakers, recovery of VAT on specialist televisions, VAT on disposable barbecues, changes to the Registered Dealers in Controlled Oils (RDCO) Scheme: inclusion of Aviation Turbine Fuel (AVTUR), extension of the lower rate of Air Passenger Duty (APD) 20.10.06 HM Revenue & Customs, Aviation, VAT
Legal Day Table
Jobs Now
LEGAL DIRECTOR Sought for challenging in-house position with Myspace, the online space which has revolutionized the way people interact, as sole attorney in their London office More >>
HEALTHCARE LAWYER With at least 5 years PQE sought by Capsticks, a leading healthcare practice, to drive forward the development of their Birmigham based office More >>
PI PARALEGAL Required by Plexus Law, a specialist PI firm, to provide in-house support to the Motor Claims Department in their Folkstone offices More >>
NETWORK ENGINEER Sought by Personnel 2000 for their client, an international banking insurance provider, based in the Cayman Islands More >>
LEGAL SECRETARY Required by Law Choice for their client, a prestigious US law firm, to work for 2 partners in their Dubai offices More >>
No Double IHT Allowance Court has ruled in favour of Revenue on discretionary trusts, case against Stephanie Phizackerley, housewife who does not work has no ownership in family home and cannot pass share into trust through her will, only working husband can claim tax-free inheritance tax allowance 19.04.07 Times, Inheritance Tax, UK Tax Avoidance Schemes, Wills and Probate
Depreciation on Unsold Stock In Revenue v William Grant, Lords have ruled that stock can be treated as cost in profit and loss account, and asset in balance sheet, profits should be calculated on current best practice, not on fundamental principles 03.04.07 Times, Company Tax
Paying VAT for Lap-Dancing High Ct is to decide on appeal by Spearmint Rhino from tribunal, who should pay VAT on fees for striptease, dancers are self-employed, receive the cash from clients and pay club for use of facilities 23.03.07 BBC, Employment Law, VAT
Camp Workers Win Rebate Up to 10k people who have worked at Butlins and Haven holiday camps are due compensation for money deducted for electricity, Appeal Ct found deductions resulted in workers not receiving the minimum wage 19.02.07 BBC, Employment Law
Tax and Sympathy, No Refund Revenue admit ex-Matalan CEO Angus Monro overpaid nearly £1m, Chancellor Sir Andrew Morritt expressed 'profound sympathy', but refused refund, tax paid on stock options was 'mistake in law' but in accord with 'prevailing practice' of the time 02.02.07 Times, Income Tax, Stock Options
Sisters Are Not a Couple Joyce and Sybil Burden have lived together in same house for 40 years, but will not be entitled to inheritance tax (IHT) exemptions enjoyed by married couples and civil partners 13.12.06 Daily Mail, Inheritance Tax
ECJ Rules on Tax on Dividends European court has ruled for BAT and other multinationals on treatment of Advanced Corporation Tax (ACT) - abolished by Brown in 1997 - in respect of dividends paid across EU state borders 13.12.06 Financial Times, Company Tax, EU Tax
