Private Client January Case Review

HMRC ‘wholly incorrect’ to seek client data from Law Firms HMRC issued Wilsons Solicitors a notice under their data gathering powers (FA 2011 Sch 23). The notice required Wilsons as a ‘relevant data’ holder to provide ‘relevant data’. The information requested was Details of beneficial...

Continue Reading

January Matrimonial Finance Case Updates

HMRC ‘wholly incorrect’ to seek client data from Law Firms HMRC issued Wilsons Solicitors a notice under their data gathering powers (FA 2011 Sch 23). The notice required Wilsons as a ‘relevant data’ holder to provide ‘relevant data’. The information requested was Details of beneficial...

Continue Reading

November Case Review

This is an industry-specific update on particular tax reviews or cases which may affect your clients. We hope the below is informative, clear and actionable. IHT Payable on UKIP Donations Transfers of value (gifts or donations) made to organisations and companies are chargeable to...

Continue Reading
pensions lost

Thousands of Pensions Lost

New figures published Wednesday 28th February by HMRC suggest that tens of thousands of mothers with young children could face a permanently reduced state pension because of changes to the Child Benefit system introduced in 2013. The new system means families where one earner...

Continue Reading
Disclosure of Overseas Income

Disclosure of Overseas Income

Non-UK Income?  Notify HMRC now to avoid penalties By 30 September 2018 tax authorities in over 100 countries will start exchanging information. HMRC says individuals MUST disclose any unreported/untaxed overseas income by September 2018.  Failure to do so will result in the individual becoming liable...

Continue Reading

Cryptocurrency Tax Laws

Cryptocurrencies are relatively new assets for tax advisers to advise on and even though they can be used in a way similar to cash, gains on cryptocurrencies are taxable to the extent they exceed the £11,300 capital gains tax allowance.  Investors in cryptocurrency may...

Continue Reading
HMRC support for vulnerable adults

Extra HMRC support for vulnerable adults

Did you know HMRC have a Needs Enhanced Support service for vulnerable people? The service is designed to help any taxpayer who may need that little bit of extra help due to either mental or physical disabilities. The NES offers one point of contact...

Continue Reading

New Loss Relief Relaxation Laws

If you own a company are you aware of the new relaxation on loss relief rules.  From April 2017 losses occurred from that date no longer need to be ring-fenced and set against profits from the same trade. Losses can now be utilitsed across...

Continue Reading