This month, we comment on the recent FTT decision in Sweby, reminding us of the importance of process in tax disputes. For UK residential properties held through non-natural persons, new valuations are required for ATED payments. The FTT judgment in McEnroe highlights the importance of accurate drafting to ensure that the tax consequences of a transaction reflect the economic outcome. Clarification on two charity law points has been provided over the last month. Finally, a recent High Court case on the ostensibly Dickensian concept of ‘fraudulent calumny’ highlights that advisers’ evidence may make the difference between a will surviving challenge and not.
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This month, we comment on the recent FTT decision in Sweby, reminding us of the importance of process in tax disputes. For UK residential properties held through non-natural persons, new valuations are required for ATED payments. The FTT judgment in McEnroe highlights the importance of accurate drafting to ensure that the tax consequences of a transaction reflect the economic outcome. Clarification on two charity law points has been provided over the last month. Finally, a recent High Court case on the ostensibly Dickensian concept of ‘fraudulent calumny’ highlights that advisers’ evidence may make the difference between a will surviving challenge and not.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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