Insights

Weekly Tax Update 14 May 2019

  • Written By: Ami Jack
  • Published: Tue, 14 May 2019 14:13 GMT

General

  • Crown Dependencies update guidance on new tax residency rules
  • HMRC to delete voice ID records for 5 million taxpayers
  • HMRC report on the drivers of tax compliance among the wealthy

Private client

  • Loss relief carry forward disallowed for member claiming as sole trader
  • FTT examines definition of ordinary shares for Entrepreneurs’ Relief (ER)
  • Court of Appeal lays down principles for follower notices
  • FTT cancels return issued due to PAYE underpayment
  • Penalty for deliberate withholding of information upheld
  • Failure to take corrective action on receipt of a follower notice was reasonable.

Business tax

  • FTT rules on SDLT anti-avoidance provisions
  • FTT clarifies the operation of Industrial Buildings Allowances (IBAs)
  • UT overturns FTT decision on just and reasonable profit apportionment
  • FTT rules that a property development did not amount to a trade
  • FTT finds unreasonable actions did not taint earlier actions

VAT

  • ATT warns over MTD penalties for early adopters
  • Appeal allowed in part on zero rated approved alterations to a listed building

Tax publications and webinars

  • Briefing Notes published

And finally

  • Aye, right!

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