Morris Wheeler Churchill blogs and news
01279 464400Inheritance tax advice for wealthy landlords
This client was referred to us by another firm of accountants in London. The client is a retired medical professional with a large portfolio of properties that had been acquired over the past 20-25 years at considerably low value but are now worth significantly...
Tax Seminar for Landlords (Edinburgh) – Wednesday 27th February 2019
Our popular seminar on “How to Increase Your Wealth Through Tax Planning” will also be held in Edinburgh to celebrate the opening of our new branch. The venue is to be confirmed. Please send your booking request to seminar@churchilltax.co.uk
Tax Seminar for Landlords – “How to Increase Your Wealth Through Tax Planning”
Tuesday 12th February 2019 (London) Following the success of our previous seminars in London and Glasgow, we will be hosting our next “FREE” seminar focusing on landlords / developers and buy to let investors. The seminar will focus on the following areas: 1- ...
Tax planning for landlords
This case involved a group of new potential landlords / developers that needed tax advice on setting up a tax efficient structure for their future ventures. This was a wise decision as we have come across landlords and developers who do not think about tax advice...
Soleimani Mafi TC 0451 [2018] – Penalties
The First Tier Tribunal has decided that the tax payer should have taken professional advice on tax implications resulting from a declaration of trust for the benefit of his sister. The tax payer did not disclose the sale of a property for £1.8m. HMRC raised discovery...
George – 0509 [2018] – Entrepreneurs’ relief
The appellant owned 6.9% of the ordinary share capital in a company but without right to vote. The tax payer had been promised voting rights in early 2012 but the necessary resolutions had not been passed until a year later in January 2013. The company was later...
Certificates of Tax Residence
HMRC have updated their guidance on how to apply for certificates on tax residence which is applicable for individuals and companies that have overseas income. In order to be taxed in the UK, the overseas tax authority will ask for proof of UK tax residence which is...
Capital gains tax planning for properties
This client came to us seeking advice on mitigating capital gains tax on a property. We considered the client’s personal and professional circumstances in detail and explored various options allowing for the potential tax liability to be mitigated. We finally...
Pensioner jailed for VAT repayment fraud
An old aged builder from Somerset has been jailed after fraudulently taking almost £650,000 in VAT repayments. Derek Hoe, aged 83 years, filed fraudulent VAT repayment claims for purchase of building materials that were allegedly used to build new houses which are...
Tax Investigations and Planning Seminar – 29 November 2018 – Glasgow
We will be hosting a free tax seminar at the Double Tree by Hilton, Strathclyde, Glasgow on 29th November. The following topics will be covered: Tax investigations - latest developments Tax case update Budget 2018 Property tax planning The seminar will provide...
Churchill Tax opens a new branch in Glasgow
We are proud to announce our new branch in Glasgow to cater for the tax advisory and tax investigations market in Glasgow. The address of the office is at 642 Cathcart Road, Glasgow, G42 8AA and the telephone number is 01414238007.
Budget 2018
Here are some of the selected key budget announcements from a tax adviser’s perspective: Annual Investment Allowances (AIA): AIA have been increased from £200,000 to £1 million from 1 January 2019. This increase is being allowed for a period of 2 years. The AIA gives...
McFarlane [2018] TC 06512 – Tax Tribunal case lost for deliberate behaviour
The First Tier Tribunal judge found in this appeal that there was a valid discovery and the appellant’s actions were considered deliberate. The appellants agents FTR Accountants Company Limited had made a series of mistakes and errors in the appeal process and did...
Tax fraudster jailed for VAT repayments
David Handley, aged 43, from Leicester has been jailed for four years for VAT repayment fraud. Mr. Handley was the mastermind behind a gang of 18 people using forged identities to set up businesses and claim more than three hundred fraudulent VAT refunds. In his...
Football agent loses tax avoidance case
Jerome Anderson, a former football agent has finally lost his tax case of £1.2 million against HMRC. The Upper Tribunal concluded that Mr Anderson and eight other individuals failed in using this scheme which involved investing in recruiting young players in South...
Code of Practice 9 tax investigation closed
This client came to us from London after he was referred to our firm by his accountants. This Code of Practice 9 ( COP 9 ) tax investigation case was being dealt with by a forensic accountant in Wales who decided to close his...
Positive ruling from HMRC on capital gains tax liability
This client came to us on recommendation from East London. The client had transferred a property to their relative as part of an ongoing internal family arrangement. On the face of it, there was a transfer between connected people and therefore subject to a...
Inheritance tax and capital gains tax planning for a large estate
This client came to us through another firm of accountants from London. The client had a significant portfolio of investment properties as well as a high value main residence. The client was seeking advice to mitigate capital gains tax on transferring the investment...
Worldwide Disclosure Facility – Deadline for disclosure 30 September 2018
The Worldwide Disclosure Facility was introduced by HMRC in September 2016 to allow individuals with offshore income to make a declaration without having to suffer heavy penalties or prosecution. This facility has been used by a large number of people in and outside...
Man jailed after failing to comply with Code of Practice 9 investigation
Bartley Murphy from Demesne Road, Downpatrick, has been sentenced to prison for 2 years and three months for tax fraud. Mr. Murphy developed and sold several houses between 2007 and 2014 but did not declare his profits to HMRC or paid any tax. He was offered...
Two men arrested for £1.2 tax fraud
Two men have been arrested on 10th May 2018 in Glasgow for tax fraud and tax evasion of roughly £12m. These arrests came following a prolonged investigation by specialist officers from HMRC. The personal details of those arrested have not been published yet due to the...
Galiara [2018] TC 06431
The First Tier Tribunal has decided in favour of the appellant appeal against late filing penalties issued by HMRC. The Tribunal Judge found that HMRC had not been able to provide sufficient evidence that a notice to deliver a tax return had been sent to the tax...
VAT Investigation Closed
This was a VAT investigation by HMRC into a retail company. At the outset, the figures proposed by HMRC were significantly higher compared to the information provided by our clients in terms of their sales and profits. Our team of tax investigation specialist met with...
Probate valuations and Capital Gains Tax
This case was referred to our firm by another firm of accountants in London. The client had inherited some properties a few years ago that they wanted sell. The issue was that the valuation used for probate purposes was quite low compared to market value at the time...
Post Death Inheritance Tax and Capital Gains Tax Planning
This client was referred to us by an accounting firm in London. The client had a bereavement in the family and the deceased was subject to significant inheritance tax due to the size of the estate. After long discussions and research into the deceased’s family and...
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