Tax

• Legal Costs of Defending Director Not Tax Deductible

  • Posted11 December 2017

  To what extent are the costs of professional advice given to a director tax deductible by the company that he or she serves? A tribunal tackled that thorny issue in...

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• HMRC Slammed for Unreasonable Behaviour As Costs Awarded to Taxpayer

  • Posted24 November 2017

  The increasing aggressiveness of HM Revenue and Customs (HMRC) in dealing with taxpayers was recently given short shrift by the First-tier Tribunal (FTT), which criticised HMRC’s high-handedness and ordered them...

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• Facts Determine Tax Treatment of Dilapidations Payment

  • Posted31 October 2017

  Virtually all leases have clauses which stipulate that when the lease comes to an end, the tenant must leave the premises in the same condition as they were in when...

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• Furnished Holiday Lettings Face Tax Attack

  • Posted11 October 2017

  The United Kingdom has very favourable Inheritance Tax (IHT) treatment for the owners of business assets used in a trade and, in general, the value of these will be outside...

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• Intention the Key in Claiming Loss Relief

  • Posted22 August 2017

  Tax law allows trading losses to be relieved against other income in a variety of ways, and although there is complexity in that law, the principle that ‘losses can be...

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• No Money a Reasonable Excuse for Not Paying Tax

  • Posted1 August 2017

  HM Revenue and Customs (HMRC) are not known for being lenient when it comes to taxpayers who fail to pay taxes, and mere inability to pay tax when due is...

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