Insights

Weekly Tax Update 30 April 2019

  • Written By: Geoff Everett, Andrew Wilkes
  • Published: Wed, 01 May 2019 14:13 GMT

General

  • Tax update and the early May Bank Holiday
  • Government calls for evidence on Social Investment Tax Relief

Private client

  • FTT directs HMRC to issue partial closure notice regarding domicile
  • Discovery found to be ‘stale’ in residence case
  • FTT upholds surcharge on unauthorised withdrawal from a pension scheme
  • FTT determines technical point on calculation of top slicing relief
  • IT assessments dismissed on a sham tenancy agreement
  • FTT urges HMRC to reduce a penalty imposed over a turbulent pregnancy
  • FTT largely upholds ‘best judgment’ assessments made by HMRC

PAYE and employment 

  • Bill on NIC treatment of termination awards and sporting testimonials
  • FTT limits deeming provision in an employment-related securities options case
  • HMRC loses another TV personality contractor case
  • Late appeal allowed for ‘ludicrous’ HMRC assessments

Business tax

  • HMRC plans to amend hybrid capital instruments legislation
  • Interest deductions relief denied in international corporate reorganisation

VAT

  • ICAEW confirms the VAT registration process

And finally

  • The world upside down

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