- The basic rate restriction on relief for property business finance costs which will be fully implemented in 2020-21 is generally thought to affect only higher and additional rate taxpayers.
- HMRC has published guidance on the new rules which came into effect on 1 April 2019 in connection with corporation tax relief for goodwill and other intangible assets.
- Four HMRC toolkits have been revised and updated. They are not for the feint hearted:
- Recent Tribunal decisions have made it clear that HMRC does not have any discretion over the operation of the anti-avoidance legislation in s.75A Finance Act 2003. If the relevant conditions are met, then the legislation applies.
- Private Residence Relief: This is the latest in a run of cases which confirm entitlement to relief is determined by the taxpayer’s intentions rather than the length of occupation.
- Company Residence: This case overturns the earlier First-tier Tribunal decision and confirms that when directors of an overseas subsidiary act in accordance with guidance from or influenced by the UK holding company, this does not necessarily lead to the conclusion that central management and control of the subsidiary is being exercised from the UK.
- Plans to increase the VAT rate of the hardware aspect of solar panels will take effect in October 2019.
- Private Dance Tuition: This case concerned a sole trader providing dance tuition. In order for the private tuition exemption to apply the subject in question must be ordinarily taught in a number of schools and universities. The particular style of dance in question was known as ‘Ceroc’. Apparently, this is a style that combines multiple dance styles and as such was accepted as ordinarily taught with the case being ruled in the taxpayer’s favour.