Unveiling the 2023 Corporation Tax Statistics Commentary
Learn summary of the 2023 Corporation Tax statistics commentary, which provides a detailed analysis of the receipts and liabilities arising from various Corporation Taxes in the UK.
HMRC’s Nudge Letters Demand Urgent Review of Gift Hold-Over Relief Claim
Gift hold-over relief can be availed when you give away business assets, including certain shares, or sell them for less than their actual value to assist the buyer.
HMRC Investigation and Tax Enquiries
Received a nudge letter from HMRC and confused about tax enquiries? This blog tackles common questions. It explains what a tax enquiry is, HMRC's power to enquire, types of enquiries, and steps to take on receiving a nudge letter. Emphasizes...
Prepare for an HMRC Personal Tax Audit in the UK
Facing an HMRC tax audit in the UK can be daunting, but a personal tax accountant guides individuals through the process. Common triggers include discrepancies, unusual deductions, industry risk factors, tips, or random selection. Thorough preparation involves gathering records, reviewing...
Corporate Tax Planning Strategies for UK Clients
Amidst changing UK corporate tax laws, businesses must strategically plan, leveraging incentives like R&D Relief and Group Relief with the 25% Corporation Tax rate. Key strategies include optimizing capital structure, utilizing loss relief, and seeking professional advice for compliance, ensuring...
HMRC’s Compliance with Overseas Entities: Latest Transparency Measures
Overseas entities faced significant changes with the disclosure deadline for beneficial owners. HMRC actively collected information, introducing a disclosure facility for undisclosed income. The landscape transitioned, addressing non-compliance through targeted efforts. Seeking professional advice is crucial amid tax complexities. Commitment...
Applicability of SDLT Refund in Smith Homes 9 Ltd v HMRC
In a Stamp Duty Land Tax case, an appellant sought relief for overpaid tax due to misclassification under Multiple Dwellings Relief. HMRC applied for a strikeout, citing a time-limit mistake, but the tribunal, recognizing procedural issues, refused the strikeout. The...
Analyzing D.K. Sexton & E.R. Sexton’s Non-Residential Garden & Grounds
In the recent SDLT case of Danielle Katie Sexton and Emma Rachel Sexton, disputing the residential classification of a London flat, the Tribunal ruled in favor of HMRC. The decision emphasizes the importance of accurate property classification for SDLT, recognizing...
T & Z Suterwalla v HMRC: Residential and Non-Residential Property for SDLT
In a recent SDLT appeal, Mr. and Mrs. Suterwalla successfully contested HMRC's classification of their property as entirely residential. The decision highlighted factors like the paddock's commercial use and separate registration, offering insights into SDLT complexities and considerations for land...
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