Tax

• 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...

  Read more

• 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...

  Read more

• HMRC Stymied Over Caravan Tax Claim

  • Posted16 April 2015

  VAT law is clear that when a supply is made as a single supply, the VAT rate which applies is that of the principal supply. However, sales frequently include items...

  Read more

• New Business Means Loss of Tax Relief

  • Posted31 March 2015

  When trading losses (as calculated for tax purposes) are made, there are several ways these can be used, but in all cases, if no other relief is given, the losses...

  Read more

• Overdue VAT? HMRC Can Wind Up Your Company

  • Posted12 March 2015

  A decision of the High Court that a provisional liquidator could be appointed following a ‘without notice’ winding-up application by HM Revenue and Customs (HMRC) should serve as a warning...

  Read more

• Benefit in Kind Simplification On Track

  • Posted23 February 2015

  Benefits in Kind (BIKs) have always been an administrative nightmare for employers, with the amount of paperwork generated sometimes out of all proportion to the value of the benefit to...

  Read more