Monthly Archives: June 2013

Due to a re-interpretation of the law, HMRC announced that from 6 April 2013 sleeping partners will be liable to pay National Insurance. Affected persons should consider the following: Sleeping and inactive limited partners who are not already paying Class 2 NICs will need to register. They can claim for exception from these contributions if […]

Last year a case was heard before the First-tier Tribunal that found a Furnished Holiday Let (FHL) property should not be considered an investment for Business Property Relief (BPR) purposes. This was an important decision for owners of FHL businesses as it confirmed the availability of BPR for Inheritance Tax purposes. If the property in […]

You may be interested to know that the answer to the title of this post is yes, if certain conditions apply, a repayment of VAT is a taxable receipt. Consider the following tax case where VAT was charged by mistake. Shop Direct Group discovered that they had accounted for VAT on a large number of […]