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start of enquiry

The Start of an Enquiry

We outline the first steps HMRC must take when they launch an enquiry HMRC must start an enquiry by giving notice to the taxpayer of its intention to do so (TMA 1970, ss 9A(1), 12AC(1); FA 1998, Sch 18, para 24). The notice must normally be given by the first anniversary of the date on which the return was filed. However, HMRC’s enquiry window may be extended if the return…

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time

Time is of the Essence

Les Howard emphasises the importance of dealing with HMRC in a timely fashion when it comes to applications for appeals I sometimes sit as a non-legal member of the First Tier Tax Tribunal. I sit on a mixture of substantive and application hearings. It is an interesting annex to my day job as a VAT consultant. On one day recently I heard three taxpayer applications for appeals to be heard…

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hmrc

HMRC Raises the Stakes

Adam Craggs and Michelle Sloane consider the new criminal offence for failure to prevent the facilitation of tax evasion and the preventative steps that need to be taken to avoid a criminal prosecution The Criminal Finances Act 2017 (CFA), which received Royal Assent on 27 April 2017, introduced new strict liability criminal offences of failure to prevent criminal facilitation of tax evasion. The legislation came into force on 30 September…

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tax

Death and Taxes

The HMRC loan charge of April 2019 is having devastating consequences, says Phil Manley. We all know the Benjamin Franklin quote: “In this world nothing can be said to be certain, except death and taxes.” What we didn’t realise is that one day they may come hand in hand. I’ve been taking hundreds of calls from members of the contractor community of late. They are distressed, worried, panicked and upset….

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Definition of a dwelling amendment

HMRC have updated their VAT Notice 708. The latest amendment issued on 20th July 2018 has been released to include a clarification of the definition of a dwelling. Paragraph 2.1 has been amended to show that a dwelling can consist of more than one building. The wording used by HMRC has to be applauded as it is very clear and concise, and I have been struggling to think of a…

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cyber essentials

Cyber AMI – A must have for accountants

Cyber Essentials for Accountants Working in conjunction with our partners Berea, we are delighted to give you the opportunity to purchase Cyber AMI, a Web based business app to help you achieve and maintain compliance with Cyber Essentials, the government’s risk management specification for cyber threats. Accountants hold a large amount of highly sensitive client data. From this point of view there is a significant threat from cyber criminals or…

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We’re updating our brand and expanding our business

It has been four years since Qdos Re-entered the Fee Protection Market as Qdos Vantage and it has undoubtedly been a real success story. Each year hundreds of accountants have made the decision to join us, benefiting from our simple and transparent approach, on-line support systems and personal service. Above all we understand that first and foremost our clients want a Tax Fee Protection Insurance provider that prioritises the delivery…

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Phoenixing Rules – Rising from the Ashes

FAQs – Phoenixing Rules A topic that is frequently asked about on our helpline relates to the Phoenixing Rules. “Phoenixing” which was introduced by Finance Bill 2016 and is in the legislation at ITTOIA05 S396B. The purpose of ITTOIA05 S396B is to prevent individuals converting what would otherwise be a dividend into a capital payment, and so reducing their overall tax liability.  This provision applies to distributions in a winding-up…

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Taxation of Capital Gains

Taxation of capital gains – scope extended by HMRC HMRC extends the scope of the UK’s taxation of capital gains accruing to non-UK residents to include gains on disposals of interests in all UK property. This measure was announced at Autumn Budget 2017 and a consultation ran from 22 November 2017 to 16 February 2018 under the title, ‘Taxing gains made by non-residents on UK immovable property’. HMRC and HM…

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VAT Recovery on Cars

Could Coca-Cola allow for VAT recovery on cars? The First-Tier case of Noel Payne, Christopher Garbett and Coca-Cola European Partners GB Ltd (TC06082) has been raised by clients when enquiring about VAT recovery on cars and vans. While it’s slightly unusual to discuss the decision made in an Income Tax Tribunal, the issue in this case was whether the three, very specific, types of van provided by Coca-Cola to their…

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