-
Dec 2, 2024 | 
yalejreg.com | Jack Jones
In July, the Fifth Circuit ruled in Nuclear Regulatory Commission v. Texasthat the Nuclear Regulatory Commission (NRC) does not have the legal authority to issue licenses for private companies to store spent nuclear fuel at locations away from reactors. The court’s decision rests in part on a cursory and strained application of the major questions doctrine.
-
Dec 6, 2023 | 
taxjournal.com | Chris Nyland |Tom Wallace |David Wilson |Jack Jones
The illusion of choice: the CIS in the DRC © Copyright LexisNexis 2023. All rights reserved. 6 December 2023 Speed read Next March, the VAT domestic reverse charge turns three, and problems are beginning to emerge. These can be traced to fumbles with the exceptions to the DRC: the corners HMRC cut by pegging the DRC to the construction industry scheme; and the diversion it took to make end user status optional, rather than mandatory.
-
Dec 6, 2023 | 
taxjournal.com | Paul Farey |Tom Wallace |David Wilson |Jack Jones
Capital allowances: a question of design? © Copyright LexisNexis 2023. All rights reserved. 6 December 2023 Speed read The Upper Tribunal decision in Gunfleet Sands clarifies the meaning of qualifying expenditure ‘on the provision of’ plant for capital allowances purposes.
-
Dec 6, 2023 | 
taxjournal.com | Anastasia Nourescu |Tom Wallace |David Wilson |Jack Jones
Home >Articles > Single supply and VAT exemption for financial services: insights from JPMorgan Single supply and VAT exemption for financial services: insights from JPMorgan © Copyright LexisNexis 2023. All rights reserved. 6 December 2023 Speed read In JPMorgan v HMRC, the First-tier Tribunal considered the VAT liability of outsourced services supplied between group companies.
-
Dec 6, 2023 | 
taxjournal.com | Tom Wallace |David Wilson |Jack Jones |Duncan Weldon
Kaye Adams is a broadcaster and journalist who provides her personal services through an intermediary, Atholl House Productions Ltd. The question for the FTT - in the latest instalment of a case remitted back to it from the Court of Appeal - was whether the arrangement used to provide those services to the BBC was caught by the intermediaries legislation, commonly referred to as IR35.
-
Nov 30, 2023 | 
taxjournal.com | David Wilson |Jack Jones |Duncan Weldon |Kate Ison
Full expensing allows corporate businesses to deduct the full cost of qualifying fixed assets in the year of investment for corporation tax purposes. This was previously in place from 1 April 2023 to 31 March 2026, but in the Autumn Statement the chancellor made this change permanent.
-
Nov 30, 2023 | 
taxjournal.com | David Wilson |Jack Jones |Duncan Weldon |Kate Ison
The government has published revised legislation that will give statutory footing to the existing disapplication of the 1.5% stamp tax charge in common situations, including all issuances of securities.
-
Nov 30, 2023 | 
taxjournal.com | David Wilson |Jack Jones |Duncan Weldon |Kate Ison
This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors. Direct taxes Manual Page Comments Trusts Settlements and Estates Manual Updated: TSEM4005 Added link to TSEM11100 for internal users needing to contact Trusts Technical for guidance on application of settlements legislation before tax year 1995-1996.
-
Nov 29, 2023 | 
taxjournal.com | David Wilson |Jack Jones |Duncan Weldon |Kate Ison
As had been expected, following the announcements at Autumn Statement 2023, the Finance Bill was published on 29 November 2023. The bill, which is expected to become Finance Act 2024 when it receives royal assent, runs to some 327 pages of legislation. In contrast to the format of the previous Finance Bill (which became F(No. 2)A 2023 and was set out across 354 sections and 24 schedules) this latest instalment has a mere 38 sections and 13 schedules.
-
Nov 29, 2023 | 
taxjournal.com | David Wilson |Jack Jones |Duncan Weldon |Kate Ison
In G Ives v HMRC [2023] UKFTT 968 (TC) (13 November 2023) the First-tier Tribunal (FTT) allowed the taxpayer’s appeal against closure notices which had treated repeated property transactions as trading ruling that the transactions were not trading and were exempt from CGT by virtue of principal private residence (PPR) relief. The taxpayer purchased and sold three residential properties selling each one shortly before purchasing the next.
