Tax

• Phased Building Plan Falls Foul of VAT Law

  • Posted29 September 2015

  Although VAT as a tax is based on quite tightly worded rules, it certainly has its pitfalls, especially in the property arena. In a recent case, a university was...

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• IR35 Reform – Discussion Paper Launched

  • Posted15 September 2015

  HM Revenue and Customs (HMRC) introduced the IR35 rules in order to prevent ‘one-person’ companies from avoiding the payment of National Insurance Contributions by taking their remuneration in the form...

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• High Court Saves Company From VAT Disaster

  • Posted23 July 2015

  The rules relating to VAT present many pitfalls and specialist advice should always be taken if there is any doubt over the VAT treatment of any significant transaction or series...

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• No Loss Means No Tax Relief

  • Posted26 June 2015

  The use of limited liability partnerships (LLPs) has become widespread since their introduction in April 2001. An LLP allows its members to have limited liability, which a ‘traditional’ partnership does...

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• Input VAT Evidence and HMRC Discretion

  • Posted12 June 2015

  It is commonly thought that for input VAT to be reclaimed from HM Revenue and Customs (HMRC), a valid VAT invoice is an absolute prerequisite. However, HMRC are permitted to...

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• Loss Relief Denied on Uncommercial Farming

  • Posted15 May 2015

  The general rule in tax law is that for a trading loss to be set off against other income in order to reduce a tax liability, the trade which incurred...

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