HMRC seeking penalty for incorrect share loss relief claim
The CIOT technical team has published an update stating that HMRC has confirmed that letters sent to taxpayers, requesting further information from those who have decided to pursue 'Mansworth v Jelley' CGT loss claims based on its 2003 guidance, do not constitute 'decisions' which trigge
HMRC has updated five of the toolkits designed to help reduce common errors in the completion of tax returns:
HMRC requested comments by 11 May on a draft statutory instrument to amend regulations to allow investors in PAIFs to exchange their units in a dedicated PAIF feeder fund for units in the PAIF and vice versa, in specified circumstances, without incurring a capital gains tax charge.
Lakshmi Narain sets out some key tax issues for advisers to consider this month.
Paul Howard explains how relief under TCGA 1992 s 165 applies to a gift of shares.
The Capital Gains Tax (Annual Exempt Amount) Order, SI 2012/881, provides that amount which – by virtue of TCGA 1992 s3(2) – is the annual exempt amount for 2012/13 unless Parliament determines otherwise is £1
The Chartered Institute of Taxation has published a 17-page guide to technical points raised with HMRC on the operation of capital gains tax entrepreneurs’ relief.
With more examples emerging of HMRC seeking information about non-UK assets to check there are no remittances, Richard Clarke notes non-doms may be forced to review these to ensure compliance.
Erika Jupe and Clara Snow examine its pros and cons.