Tag Archives: capital

Changes to Property TOGC Guidance

HMRC last week issued new guidance on a TOGC, transfer as a going concern, in Revenue & Customs Brief 27/14. Three particular areas are addressed. First, following the Robinson Family Limited [2012] UKFTT 360 HMRC now accept the surrender of … Continue reading

Posted in Tax and Accounting News | Tagged , , , , , , | Leave a comment

Stately Home Old Master Painting Tax-Free Plant

The Court of Appeal ruled this week that a £9.4m old master painting was exempt from capital gains tax. In HMRC vs. Executors of Lord Howard [2014] EWCA 278 the Court dismissed HMRC’s claim to capital gains tax, on the … Continue reading

Posted in Tax and Accounting News | Tagged , , , , , , , , , , , , | Leave a comment

VAT, Tax and Bitcoin Transactions

HMRC have issued Brief 09/14 on the tax treatment of Bitcoin and other cryptocurrencies. Mining of Bitcoin is outside the scope of VAT, no VAT arises on currency exchange, verification or transaction charges are exempt under the Directive article 135(1)(d) … Continue reading

Posted in Tax and Accounting News | Tagged , , , , , , , , , | Leave a comment

Bangladeshi Coal-Fired Power Projects get Tax Holiday

As a tax barrister I have advised on and been involved in green tax incentive schemes but today, tax fans, I bring news which is totally contra to the current Tax-Zeitgeist. Bangladesh has announced that it will offer new coal-fired … Continue reading

Posted in Tax and Accounting News | Tagged , , , , , , , , , , , , | Leave a comment