http://tax.practicallaw.com/ Practical Law Company RSS feed The draft Enactment of Extra-Statutory Concessions Order 2012, which enacts ESCs C10 and C16, among others, was published on 24 January 2012.

]]> http://tax.practicallaw.com/6-517-5874?source=rss The High Court has determined that a bespoke provision in a tax deed, designed to pass the benefit of a tax repayment to the claimants, could not be construed as including the statutory interest that HMRC paid on the repaid tax (Teesside Power Holdings Ltd v Electrabel International Holdings BV & Anor [2012] EWHC 33 (Comm) (20 January 2012)).  

]]> http://tax.practicallaw.com/0-517-5481?source=rss HMRC has confirmed that it will not impose late filing penalties or interest on taxpayers that submit their 2010-11 self-assessment tax returns or pay tax due by 31 January 2012 on 1 or 2 February 2012.

]]> http://tax.practicallaw.com/1-517-5683?source=rss The First-tier Tribunal has held that an amendment to a property sale agreement, referring to the price as "premium" but stating that the amendment was intended to give effect to the agreement's calculation of the price, did not change the non-deductible capital nature of the payments (Bluesparkle Limited v HMRC [2012] UKFTT 45 (TC)).

]]> http://tax.practicallaw.com/2-517-5343?source=rss The European Commission has decided to refer the UK to the ECJ for failing to introduce proper transitional rules for the abolition of the extended limitation period for tax claims based on mistake of law brought before 8 September 2003, it was announced on 26 January 2012.

]]> http://tax.practicallaw.com/9-517-5325?source=rss With the consent of HMRC, responses by HMRC to technical questions on the operation of entrepreneurs' relief rules have been published.

]]> http://tax.practicallaw.com/8-517-5241?source=rss HMRC's media office has confirmed that, while there are no plans to extend the 2010-11 self-assessment tax return deadline beyond 31 January 2012 because of proposed industrial action that day by HMRC staff, HMRC will ensure that no one is disadvantaged as a result of that action.

]]> http://tax.practicallaw.com/3-517-5234?source=rss The First-tier Tribunal (tribunal) has ruled that non-discrimination tax treaty provisions prevent a company from being barred from surrendering losses to consortium group members simply by reason of the non-UK residence of its majority shareholder (The Felixtowe Dock and Railway Company & Others v HMRC [2011] UKFTT 838 (TC)).

]]> http://tax.practicallaw.com/6-517-3002?source=rss The First-tier Tribunal considers that HMRC should be able to suspend the penalty for a redundant individual's carelessly inaccurate return because being made redundant may not be a "one-off event" (Jonathan Paul Lindsay Cobb v HMRC [2012] UKFTT 40 (TC)).

]]> http://tax.practicallaw.com/1-517-4787?source=rss HMRC has published a set of FAQs about operating the 0T code on share-based payments made after a P45 has been issued to an employee.

]]> http://tax.practicallaw.com/3-517-4692?source=rss If a taxable person proves to HMRC that it paid VAT on the deemed supply that occurs on deregistration then, from 23 January 2012, HMRC will accept that evidence in any claim for pre-registration input tax if the taxable person later reregisters.

]]> http://tax.practicallaw.com/5-517-4686?source=rss PLC Tax has published a new checklist of issues to consider when reviewing a company's articles of association where the company is seeking EIS investment.

]]> http://tax.practicallaw.com/3-517-4343?source=rss News stories for the PLC Tax weekly e-mail to 24 January 2012.

]]> http://tax.practicallaw.com/7-517-3676?source=rss The First-tier Tribunal has held that a subjective test of neglect applies when determining whether a company's failure to pay National Insurance contributions (NICs) can be attributed to neglect on the part of an officer, making him personally liable for all or part of the unpaid NICs (Charles Michael O'Rorke v HMRC [2011] UKFTT 839 (TC)).

]]> http://tax.practicallaw.com/4-517-3183?source=rss Akenhead J's judgment in Shepherd Construction Ltd v Pinsent Masons LLP [2012] EWHC 43 (TCC) struck out parts of a main contractor's claim, which alleged that its series of instructions to the defendant solicitors created a single contract that required the solicitors to keep previous advice under review.

]]> http://tax.practicallaw.com/5-517-3700?source=rss The High Court has held that insurance-related fees were subject to VAT as the exemptions for transfers of going concerns (TOGCs) and insurance brokers did not apply (Royal Bank of Scotland v HMRC [2012] EWHC 9 (Ch)).

]]> http://tax.practicallaw.com/4-517-3121?source=rss The First-tier Tribunal has held that the lack of online filing facilities for partnerships did not give a partnership a reasonable excuse for filing its paper return late (Astrid Koyeni-Efreeitems v HMRC [2012] UKFTT 13 (TC)).

]]> http://tax.practicallaw.com/9-517-3406?source=rss HMRC has published a consultation on draft amending regulations to apply the 0T code (rather than the BR code) to post-P45 PAYE on employee securities (including shares) and options, which will increase PAYE liabilities in many cases. Comments can be submitted until 16 February 2012.

]]> http://tax.practicallaw.com/4-517-3381?source=rss A summary of the deals added to What's Market during the last fortnight.

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