Tax and Financial Planning

• The Up and Down of Bank Deposit Protection

  • Posted9 October 2015

  Hard on the heels of the announcement that the amount of bank deposits guaranteed to be reimbursed in the event of the failure of a covered financial institution is to...

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• HMRC Cash Seizure Rights On the Way

  • Posted23 September 2015

  The Finance Bill currently in Parliament will confirm that HM Revenue and Customs (HMRC) are to be given the right to seize money directly from the bank accounts of taxpayers...

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• HMRC Challenge Gifts in Absence of Formal Deeds

  • Posted4 September 2015

  Gifts made more than seven years before the death of the donor do not generally attract a charge to Inheritance Tax (IHT) on the donor’s death. However, where the...

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• Vagueness of Request Negates HMRC Demand for Information

  • Posted18 August 2015

  When undertaking tax enquiries, HM Revenue and Customs (HMRC) are well known for embarking on ‘fishing expeditions’ for information. In a recent case, a company which was under enquiry for...

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• Previous Accountant’s Failure Not a Reasonable Excuse

  • Posted31 July 2015

  When an accountant failed to file a client’s year-end PAYE return, the first inkling the director of the company involved had of it was many months later – when the...

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• HMRC to Excuse Late Filing of Tax Returns

  • Posted14 July 2015

  HM Revenue and Customs (HMRC) have traditionally taken a very tough approach regarding time limits, and many cases arising out of HMRC’s failure to accept what the taxpayer claimed was...

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