HMRC being unfair? What next?!
Taxpayers sometimes have grievances about HM Revenue and Customs (HMRC), such as mistakes or unreasonable delays. What can be done? Some possible actions to consider are outlined below. You have rights! Disgruntled taxpayers could consider referring HMRC to ‘Your charter’ (www.gov.uk/government/publications/your-charter/your-charter). It applies to the conduct of HMRC officers when interacting with taxpayers (e.g. during […]
No suspicion needed!
Where a taxpayer is unfortunate enough to be subjected to an enquiry into their tax return, it is not uncommon for HM Revenue and Customs (HMRC) to issue a formal notice requiring the taxpayer to provide information or produce documents which HMRC considers is ‘reasonably required’ to check the return (FA 2008, Sch 36, para […]
It’s the quality not the quantity!
A change in personal circumstances can have tax implications, such as affecting the availability of capital gains tax principal private residence (PPR) relief. For example, a house might be occupied for only a short time before sale, due to a change of plans following a relationship breakdown. ‘Safe’ occupation? A common question asked by house […]
IHT: Is your property related?
Valuing assets such as land and buildings is potentially tricky for various tax purposes, including inheritance tax (IHT) on making a chargeable lifetime transfer, or on death. One area of potential difficulty is valuing joint interests in land and buildings. For example, a property in London may be jointly owned, such as by spouses or […]
Suspended Penalties: You’ve Had Your Chance!
Appealing against HMRC assessments or notices to correct errors in tax returns might have an unfortunate knock-on effect when it comes to penalties in some cases. If an error is made in a tax return, it does not necessarily follow that a penalty will be incurred if additional tax becomes due as a result of […]
Private Residence Relief: HMRC’s ‘Off-Plan’ Arguments Off Target!
A private residence relief case involving an individual’s delay moving into a dwelling whilst it was being built. The extent to which capital gains tax (CGT) principal private residence (PPR) relief is available on the disposal of an individual’s only or main residence is straightforward to establish in most cases. However, differences in interpreting the […]
How’s The Family? Penalties And ‘Reasonable Excuse’
Does HMRC properly consider whether penalties are appropriate when taxpayers file their tax returns late due to serious illness? Every year, numerous appeals by taxpayers against penalties from HM Revenue and Customs (HMRC) for the late submission of tax returns reach the First-tier Tribunal. Excuses, excuses… Those taxpayers are normally appealing to the tribunal for […]
HMRC Enquiries: Should I Stay Or Should I Go?
Some issues to consider regarding potential meetings with HM Revenue and Customs in tax return enquiries. A tax return enquiry by HM Revenue and Customs (HMRC) is a possibility for virtually anyone who files a return. A common feature of tax return enquiries (especially for business owners) is that HMRC often request a meeting with […]
HMRC Enquiries: Should I Stay Or Should I Go?
Some issues to consider regarding potential meetings with HM Revenue and Customs in tax return enquiries. A tax return enquiry by HM Revenue and Customs (HMRC) is a possibility for virtually anyone who files a return. A common feature of tax return enquiries (especially for business owners) is that HMRC often request a meeting with […]