½Û×ÓÊÓÆµ

Weekly case highlights ― 29 November 2021

Produced by a Tolley Owner-Managed Businesses expert
Owner-Managed Businesses
Guidance

Weekly case highlights ― 29 November 2021

Produced by a Tolley Owner-Managed Businesses expert
Owner-Managed Businesses
Guidance
imgtext

These are our brief notes and thoughts on cases published in the last week or so which caught our eye and are likely to be of particular interest to tax practitioners. Full case reports and commentary on most of these cases will be included within our normal reference sources in the coming weeks.

Income tax

Mark Dunsby v HMRC

It is always interesting when taxpayers attempt to use anti-avoidance legislation to their own advantage. This is a good example. The settlements legislation basically says that a person who sets up a structure can still be taxable on the income even if it is paid to somebody else. Here, matters were so arranged that the person who set up the structure was offshore but the person to whom the income was paid was onshore. The aim was that the income would be treated as that of the offshore person who, being non-resident, would not be taxable. The person receiving the income would therefore escape liability.

The First-tier Tribunal went behind the structure and found that the true

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, and tax research, register for a free trial of Tolley+â„¢
Powered by
  • 29 Nov 2021 08:01

Popular Articles

VAT on property disposals

VAT on property disposalsThis guidance note provides an overview of the VAT treatment of selling property that is located in the UK. The UK includes Great Britain, Northern Ireland and the territorial sea of the UK. The sale of any land or building located outside the UK is outside the scope of UK

14 Jul 2020 13:57 | Produced by Tolley Read more Read more

Simple assessments

Simple assessmentsFrom 2016/17 onwards, HMRC has the power to make a ‘simple assessment’ of the taxpayer’s income tax and / or capital gains tax liability outside of the self assessment system. As HMRC already receives significant amounts of information on the income received and tax paid by

14 Jul 2020 13:40 | Produced by Tolley Read more Read more

Gilts

Gilts‘Gilts’ are securities that are also known by a number of different names (eg gilt-edged securities, Government securities or treasury stock).The Government sells gilts to fund the deficit between public spending and tax receipts. Normally, the Government pays interest to the holder of the gilt

14 Jul 2020 11:48 | Produced by Tolley Read more Read more