Tax Aware

Tax, the General Election and the New Year

In light of the upcoming General Election (on 12 December 2019), below are some of the tax policies the Labour Party may reportedly seek to implement if elected.

Taxing the digital economy: A moving target

Reforming the system of assessing and collecting tax from the digital sector has attracted wide interest for some years now.

Rollover relief: HMRC out for a duck

In Leeds Cricket Football & Athletic Co [2019] TC 07362, the Tribunal considered how goodwill may qualify for CGT "rollover relief".

Risk of annual HMRC enquiry where the Corporate Criminal Offence is not addressed

There have been recent changes in HMRC's risk assessment process that mean that companies or partnerships that fail to properly address the "corporate criminal offences" requirements may face annual enquiries into their tax affairs.

The evolving landscape of IR35 disputes

The recent decisions of Paya Limited and others [2019] UKFTT 583 and Christa Ackroyd [2019] UKUT 0326 have shed further light on the application of the IR35 legislation.

Giving your shares: A tax-efficient alternative to charitable giving

Cash is generally the type of asset most commonly donated to charity. However, individuals are increasingly looking for other forms of charitable giving which suit their needs and objectives.

PPR: Good news for off-plan purchasers

In Higgins v Revenue and Customs [2019] EWCA Civ 1860, the Court of Appeal reversed the earlier findings which limited principal private residence relief (PPR) where there was a delay between completion and occupation.

Back to back sales prevent VAT TOGC relief

In The General Distribution Storage Ltd [2019] TC 07352, the Tribunal discussed the application of the VAT relief available to a qualifying "transfer of a business as a going concern" (TOGC relief) in respect of a series of immediately consecutive transfers.