Gideon Sanitt

Sep 9, 2024 | mondaq.com | Gideon Sanitt

The case concerned the application of the main purpose test in the Transactions in Securities (TIS) anti-avoidance rules. The crux of the FTT's decision was that because the appellants sought to benefit from relief from Capital Gains Tax (CGT) on the disposal of shares through the Enterprise Investment Scheme (EIS), by default, they had a main purpose of obtaining an income tax advantage. That being the case, they were caught by the TIS anti-avoidance rules.

May 14, 2024 | lexology.com | Gideon Sanitt |Sophie Rhind |Victoria Braid

Last week, the Upper Tribunal (UT) dismissed an appeal by HMRC against the decision of the First-tier Tax Tribunal (FTT) in Hitchins v HMRC ([2023] UKFTT 00127), which directed HMRC to issue closure notices in respect of enquiries opened into the tax returns of three brothers. The apparent ease with which the UT reached its decision is unsurprising as the question of whether HMRC have reasonable grounds not to issue a closure notice is a value judgment that will rarely be disturbed on appeal.

May 14, 2024 | blog.macfarlanes.com | Gideon Sanitt |Sophie Rhind |Victoria Braid

Last week, the Upper Tribunal (UT) dismissed an appeal by HMRC against the decision of the First-tier Tax Tribunal (FTT) in Hitchins v HMRC ([2023] UKFTT 00127), which directed HMRC to issue closure notices in respect of enquiries opened into the tax returns of three brothers. The apparent ease with which the UT reached its decision is unsurprising as the question of whether HMRC have reasonable grounds not to issue a closure notice is a value judgment that will rarely be disturbed on appeal.

Apr 22, 2024 | lexology.com | Gideon Sanitt |Mark Hunter |Victoria Braid

When the Conservative government announced on 6 March that they would abolish the non-dom regime, they undermined a key element of the Labour Party’s plan to raise funds, in the event that they are successful in the upcoming election. In response, Labour confirmed last week their intention to strengthen the proposed non-dom reforms, with the expectation of raising an extra £2.6bn over the course of the next Parliament.

Apr 19, 2024 | macfarlanes.com | Gideon Sanitt |Victoria Braid

In response, Labour confirmed last week their intention to strengthen the proposed non-dom reforms, with the expectation of raising an extra £2.6bn over the course of the next Parliament. At the same time, Labour also pledged to raise an additional £5.1bn per year by reducing the tax gap. In their published plan, Labour outline how they would do so by providing additional funding to HMRC and by making legal and regulatory changes. What is the tax gap?