Corporation Tax

Tax Tribunal Rules Against HMRC’s Assessment on Consultancy Fee

In Maureen Hepburn v HM Revenue and Customs (“HMRC”) (2013) the First-Tier Tax Tribunal (“FTT”) ruled in favour of a taxpayer’s appeal in relation to consultancy fee paid to a company which was not incorporated at the time. The taxpayer appealed against HMRC’s tax assessment that the consultancy fee should form part of trading income, rather than …

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House of Lords Economic Affairs Committee report UK corporate tax regime needs reform

A cross-party group of MPs and peers on the Economic Affairs Committee (“the Peers”) have found that the UK’s corporate tax system as it currently stands “is not working and urgently needs reform”. The Economic Affairs Committee published its First Report on Tackling corporate tax avoidance in a global economy: is a new approach needed? The Committee …

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Was the Public Accounts Committee’s report on HMRC “inaccurate”?

Following the publication of a report by the Public Accounts Committee, criticising the operations of HM Revenue and Customs, the latter hit back with allegations that the report was “inaccurate”. Full Fact assesses the claims made by both sides. “There is more than £25 billion outstanding in unresolved tax bills and it is essential that …

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HMRC responds to Public Accounts Committee report into tax disputes

HM Revenue & Customs (HMRC) has responded to the report of the Public Accounts Committee (PAC) into tax disputes. An HMRC spokesman said: HMRC rejects the conclusion of the PAC that there are systemic failures in the management of tax disputes. The report is based on partial information, inaccurate opinion and some misunderstanding of facts. …

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