News

Tribunal case: Legal fees were capital not revenue
Wednesday, July 28, 2010
A recent Tribunal case focused on the question as to whether legal fees were deductible by the taxpayer company. In 1991 the company had been granted outline planning permission for an open-air market. A further planning application was approved...
New HMRC and DWP payment initiative
Monday, July 26, 2010
HMRC together with the Department for Work and Pensions (DWP) have launched a new scheme on a trial basis which will allow individuals to make repayments due to HMRC by way of a reduction in their DWP benefits.  The trial, participation in which...
Company residence – New draft guidance
Monday, July 26, 2010
HMRC have published new draft guidance on company residence.  The guidance specifically concerns the circumstances in which HMRC will not normally review a company's residence status. The guidance includes 8 short examples of scenarios where HM...
Online filing of trust and estate returns
Monday, July 26, 2010
A new online filing system for trust and estate tax returns took effect from 1 July 2010.  The new system is expected to reduce the amount of time it takes for HMRC to process any tax repayments as well as shortening the time taken to deal with...
Claiming tax credits
Monday, July 26, 2010
Families and individuals who receive tax credits should renew their claims by 31 July 2010.  Claimants who do not renew on-time may have their payments stopped. Claims should be renewed by completing the renewals pack sent by HMRC earlier this y...

July 26, 2010
♦ New anti money laundering guidance
♦ Pool betting duty
♦ Double taxation relief – new statutory instruments
♦ Interest rates – new statutory instruments
♦ Negligible value list updated