Tax analysis: In Binoy Joseph v HMRC, the First-tier Tax Tribunal (FTT) restricted the details which the taxpayer was obliged to provide to HMRC under an information notice. Some personal information could be redacted, and details of employment arrangements and supply chain were simplified.
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Direct tax treatment of damages and compensation paymentsWhere a dispute is brought to an end by a payment of damages or compensation, whether under a court order or an out-of-court settlement agreement:•the person receiving the payment (the claimant) will want to know whether that amount is
Is a First-tier Tax Tribunal (FTT) decision binding on HMRC?Although a First-tier Tax Tribunal (FTT) decision is binding on the parties to the particular case in respect of which the decision is made, it does not set a precedent for other cases. This means that an FTT decision does not need to be
When a non-UK company has a UK permanent establishment or becomes UK tax resident, how and when must it inform Companies House and HMRC? What happens if the deadline is not met?Companies HouseThe statutory rules in relation to overseas companies are set out in Part 34 of the Companies Act 2006 (CA
VAT treatment of damages and compensation paymentsA damages or compensation payment may attract VAT. This depends on exactly what the payment is for. If it is purely compensatory, such that it does not amount to consideration linked to a supply, it will be outside the scope of VAT. If, on the other
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