FRC sanctions guidance to tribunals

Comments from ACCA to the Financial Reporting Council (FRC), 14 January 2012.

FRC accountancy scheme

Comments from ACCA to the Financial Reporting Council (FRC), 14 January 2013.

Trustees and recovery of funds

The Charity Commission has issued guidance to Trustees on how it will approach recovery of funds from them.

Reporting issues for charities

ACCA in partnership with the Charity Commission have developed a podcast focusing on the key reporting issues facing Charities in the UK.

MacDonald Resorts Ltd v HMRC

This case concerns the place supply of a timeshare operated by Macdonald Resorts in Spain. HM Revenue & Customs won at Tribunal contesting that the place of supply was the UK and therefore at the standard rate of VAT.

McGowan v Brown & cousins

Tests whether a payment constitutes a trading receipt.

Walton v R & C Commrs

Amendments to Self Assessment return by HMRC; whether taxpayer had discharged burden of proving incorrect assessments.

Imperial Chemical Industries v Colmer

Consortium relief; whether the consortium company had to be a holding company of UK companies only in order to qualify for consortium relief.

W.T. Ramsay V Cir

Artificial series of steps inserted purely for the avoidance of tax. This is a key case and, together with the case of Furniss v Dawson is a mainstay of HMRC in tackling artificial tax avoidance schemes on the basis of substance over form.

Horton v Young

Travelling costs and the wholly and exclusively rule.

HMRC v Weald Leasing Ltd

This European Court of Justice (ECJ) decision tests the whether a structure was an abusive practice.

Holden v Wood & Wood

Company incorporated overseas; whether resident in UK by virtue of control.

HMRC v Landsdowne Partners Ltd.

Whether a discovery assessment was valid after HMRC discovered that they had incorrectly deducted certain expenses.

Walker v Adams

Compensation for loss of office including payment for 'injury to feelings'; whether taxable

Rupert Kimber v HMRC

Resumption of UK residence in the UK; Capital gains tax - whether the Appellant was resident in the UK when a particular disposal of shares was made.

Veltema v Langham

Discovery assessment; whether HMRC permitted to issue one; tax return submitted with valuation subsequently found to be incorrect

Varty v Lines

Principle private residence relief; sale of part of land within curtilege of property following earlier sale of dwelling house and land.

Tucker v Granada Motorway Ltd.

This case tests the difference between capital and trading treatment

Simpson v John Reynolds & Co (Insurances) Ltd

Tests whether a payment constitutes a trading receipt.

Sharkey v Werhnher

This case establishes the principle of value given a disposal other than in ordinary trade.

Southampton Leisure Holdings Plc v C & E Commissioners

This decision tests partial exemption attribution.

Smiths Potato Estates Ltd v Bolland

The wholly and exclusively rule.

United Biscuits (UK) Ltd

This case tests the definitions and exceptions of food.

TP Madgett (TP) & RM Baldwin (t/a Howden Court Hotel) v C & E Commissioners

This case tested whether a trade was within the Tour Operators Margin Scheme (TOMS).

Taylor v Good

Property with land acquired and subsequently sold with development value; Trading income vs. CGT.

Temperley v Visibell Ltd

Rollover relief; land acquired; proposed building of factory abandoned; roll-over relief claimed.

Sargent v Barnes

Travelling costs and the wholly and exclusively rule

Schofield v R & H Hall Ltd

This case tests whether an expense can be classed as plant.

Samuel Jones & Co (Devondale) Ltd v CIR

This case tests whether an expense is revenue or capital.

Rutledge v CIR

The case tests whether an activity constitutes a trade

Harrold v Inland Revenue Commissioners

Executor’s of the estate claimed APR on the property but the IR sought to include the value of the property in the estate for IHT purposes.

Rowland v HMRC

Whether reliance on a third party (an accountant) can be regarded as reasonable excuse for penalty/surcharge purposes.

Salt v Chamberlain

The case tests whether an activity constitutes a trade.

HM Revenue & Customs v The Principal & Fellows of Newnham College in the University of Cambridge

This case tests the meaning occupation in regard to land.

Herbert Smith v Honour

Provision for future rents on vacated premises; whether tax deductible.

HMRC v Khawaja

Level and quality of proof required by HMRC when levying penalties

Hampton v Fortes Autogrill Ltd

This case tests whether an expense can be classed as plant.

Hall v Lorimar

Freelance vision mixer; whether employed or self-employed.

Benson v Yard Arm Club Ltd

This case tests whether an expense can be classed as plant.

Batey v Whitfield

Principle private residence relief; sale of an ancillary property, separate from the main dwelling house.

Garnett v Jones (re Arctic Systems Ltd)

Whether issue of share to wife was a settlement and, consequently, the dividends taxable on the husband.

Gallagher v Jones

The wholly and exclusively rule

Gordon & Blair v CIR

Change in activity; whether constituted a new trade for the purposes of carrying forward trading losses.

Furniss v Dawson

Artificial series of steps inserted purely for the avoidance of tax; consolidated the Ramsay principle established in the case of W.T. Ramsay v CIR

Fleming (t/a Bodycraft), Condé Nast Publications Ltd v HMRC

This case looks at the issues of the three year time limit and input tax.

Gilbert (T/A United Foods) v HMRC

Entrepreneurs' Relief; whether there was a sale of "part of a business".

GD Cairns (VDE Webb's Personal Representative) v HMRC

Inadequate valuation of property on IHT return; HMRC issued a penalty summons for negligence; validity of summons.

Allum & Allum v Marsh

Company purchase of own shares on retirement of directors; whether made for benefit of trade

Barclays Bank Trust Co Ltd v CIR

Business property relief; large cash balance held by company and restriction of relief.

Attwood v Anduff Car Wash Ltd

Plant and machinery; business use test vs. premises test