News
Tax
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In an important decision, the Court of Appeal has underlined that tax avoidance schemes may be strictly in accordance with legislation – but still be ineffective. The case involved a...
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Many businesses supply cars to their employees for business use. The regime under which benefits in kind are taxed is well known by most company accountants. However, one such...
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Precision is important, as a recent tax case shows. It involved a claim for entrepreneur’s relief (ER) by a businessman who had sold his shares in his company. The...
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Have you ever been out and had a cup of coffee with someone else, who paid and then offered you the VAT receipt ‘so you can get the VAT back’?...
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HM Revenue and Customs (HMRC) know that ‘cash trades’ are often susceptible to a suppression of takings and regularly target cash traders for tax enquiries. Where HMRC’s suspicions are...
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There is a common but incorrect belief that where a taxpayer incurs a trading loss, that can always be set against their other income to reduce the Income Tax they...
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