Tax Plus Blog -
Domicile… now the TUC joins the debate
Date: 10th September, 2007 | Author: Barry Hallam | Comments: 0
It was reported yesterday The Observer , and in both The Guardian and The Independent today that The TUC has joined the campaign to abolish the current tax rules for those resident but not domiciled in the UK. The Sunday Times on the other hand ran a report about a poll that suggested that “two people in every five are either planning to move abroad or have seriously considered doing so”. Maybe the new Chancellor will touch on this in his first Pre-Budget report next month....
Tax advisers to become short sighted weight lifters!
Date: 7th September, 2007 | Author: Lisa Spearman | Comments: 0
A Friday lunchtime check on the Internet to see what the market was doing led me to an article at http://news.bbc.co.uk/1/hi/business/ indicating that the current version of Butterworth’s yellow tax handbook is now being printed in small print to keep it to under 10,000 pages. The Yellow Book as we know it is the bible of all UK tax legislation and not so very long ago was in two volumes – now it is in five… The burning question is whether we should be able to claim tax relief for our exercise...
Late night taxis..the revenue get tough!
Date: 6th September, 2007 | Author: Barry Hallam | Comments: 0
HMRC have tightened up their interpretation of rules which can enable employers to pay for taxis for late working employees without incurring a tax liability. If an employee works later than usual at night it is not uncommon for an employer to pay for a taxi home. Is this a taxable benefit? In general – Yes – but there is an exemption in certain circumstance provided by the tax legislation (section 248 Income Tax (Earnings and Pensions) Act 2003). The circumstances are: ...
Further debate on the domicile issue..
Date: 13th August, 2007 | Author: Barry Hallam | Comments: 0
An article by Vannessa Houlder in the FT this morning has sparked further debate on the question of Domicile for UK tax purposes. This was picked up by...
Arctic Systems: the saga continues…
Date: 27th July, 2007 | Author: Lisa Spearman | Comments: 2
You may recall that earlier this week Cathy Corns, Corporate Tax Partner at Mercer & Hole wrote an article on the Jones v Garnett case for her SME Blog. Following on from this piece Cathy has submitted an additional blog on the topical "Arctic Systems Ltd" case. The House of Lords issued their judgement in the case of Jones v Garnett (also known as the “Arctic Systems Ltd” case) on 25 July 2007. To much rejoicing the case was decided in favour of Mr and Mrs Jones. However, the Revenue is a bad loser. On 26 July a written Ministerial...
The long awaited decision on Arctic Systems
Date: 25th July, 2007 | Author: Lisa Spearman | Comments: 1
Cathy Corns, Corporate Tax Partner at Mercer & Hole wrote this article for her SME Blog earlier today. This all seems to have been going on for so long you may need reminding of what all the fuss is about; so - Mr and Mrs Jones ran a small IT company of which Mr Jones was the sole director. They each owned one share in the company took a small salary and extracted the majority of their required funds by way of dividend. These, of course, were paid in line with the shareholdings, on a 50:50 basis. ...
Arctic Systems - Judgement Day
Date: 19th July, 2007 | Author: Lisa Spearman | Comments: 0
It has been announced that the House of Lords Judgement on the case of Jones v. Garnett will be released on 25 July. I had been expected that this would not be available until after the Summer recess. Watch this space for further details next week. Subscribe by email to be informed as soon as any updates appear on our Tax Plus Blog ...
The Domicile debate…again!
Date: 17th July, 2007 | Author: Lisa Spearman | Comments: 0
There has been further press coverage in the The Times online newspaper over the weekend about the taxation of non domicilaries in the UK. The debate was sharpened when the director of the CBI, Richard Lambert, raised questions about the fairness or otherwise of the UK’s tax laws. ...
Capital loss scheme defeated
Date: 11th July, 2007 | Author: Barry Hallam | Comments: 0
A tax avoidance scheme to generate a loss for capital gains tax purposes has been defeated by the Special Commissioners....
Mileage Allowances - New Fuel Rates
Date: 6th July, 2007 | Author: Roger Bell | Comments: 0
H M Revenue & Customs have announced new advisory fuel rates which can be used by businesses to reclaim VAT on employees mileage allowances for business travel. The new rates which apply to all journeys on or after 1 August 2007 are as follows:- ...
