Tax updates: May 2015

Our roundup of the latest tax news and cases including loss relief for LLP member in Hamilton case, tax relief on R&D payments, four-year time limit not applicable to self assessment in Higgs, HMRC non-resident landlord scheme guidance, Revenue Scotland goes live for LBTT collections, 2015-16 tax rate changes. Sharon Khin reports

Case report: loss relief for member of Archerfield LLP

The Upper Tribunal in Revenue & Customs v Hamilton & Kinneil (Archerfield) Ltd & Ors [2015] UKUT 130 (TCC) (20 March 2015) has allowed HMRC’s appeal and overturned the decision of the FTT in Hamilton & Kinneil (Archerfield) Ltd FTC/94/2014.

Hamilton & Kinneil (Archerfield) Ltd (HKAL) was a member of the Renaissance Club at Archerfield LLP (the LLP) and claimed trading losses relating to the LLP against its profits.

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Case report: loss relief for member of Archerfield LLP

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