HMRC Clarifies Overlap Relief Calculation Process for Taxpayers
The article highlights HMRC's guidance on calculating overlap relief, a crucial aspect of the basis period reform effective from April 2023, providing insights for businesses, particularly sole traders and partnerships, to ensure accurate and timely submissions for a smooth transition...
Couple Wins Tax Dispute: HMRC Loses £541,821 Property Tax Battle
The UK's Upper Tribunal ruled in favor of a couple in a property tax dispute, affirming their correct calculation for principal private residence relief and puts an emphasis on the significance of understanding intricate tax regulations.
HMRC v Gerald and Sarah Lee: A Case for Private Residence Relief
The article discusses the HMRC v Gerald and Sarah Lee case, providing insights into the application of Private Residence Relief (PRR) in property redevelopment situations, highlighting the complexities, HMRC's interpretation, the Lees' appeal, the First Tier Tribunal's decision, and the...
Property 118 Hybrid LLP Model & Tax Policy Associates Comprehensive Analysis
The Tax Policy Associate's report raises concerns over Property118's alleged tax reduction scheme for landlords, highlighting potential mortgage defaults and tax repercussions, as the model faces scrutiny from HMRC.
Bernie Ecclestone’s Historic £652m Tax Settlement and Legal Battle with Trusted Adviser
Former F1 chief Bernie Ecclestone pleads guilty to tax fraud, settling a record-breaking £652mn civil deal with a £330mn penalty, marking the largest sum paid by an individual in a UK fraud case. His adviser, Stephen Mullens, faces a £20m...
Mullens vs. HMRC: Taxation Dispute Over £40 Million Payments
The Mullens vs. HMRC case unfolds a legal battle over £40 million payments, highlighting the significance of transparent tax reporting and the repercussions of deliberate tax omissions and inconsistencies.
Fiander and Bower Vs HMRC: Interpreting Suitable Dwellings for MDR
Fiander and Bower V HMRC also known as The Hemingford House case revolves around the issue of whether a main house and an annex, both forming part of a residential property did not qualify for Multiple Dwellings Relief (MDR) ....
HMRC Takes Aim at High Income Child Benefit Charge Non-Payers
HMRC's latest initiative targets tax agents over discrepancies in clients' self-assessment returns regarding the High Income Child Benefit Charge and employer-submitted reports, aiming to rectify errors via a voluntary amendment program.
VAT Fraudsters Stripped of £7.5 Million in Properties
HMRC's successful sale of properties linked to Syed Ahmed and Shakeel Ahmed, convicted for a multimillion-pound VAT fraud, recovers £10 million in total, showcasing ongoing efforts to reclaim stolen funds even after their extended sentences.
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