In an appeal against a closure notice, the First Tier Tribunal (FTT) determined that valuing goodwill on the basis of a multiple of gross recurring fees is a more accurate method of valuing professional firms and such a method was to be adopted in this case.

A taxpayer has won his appeal against £10,000 of penalties for late payment of tax after a First Tier Tribunal (FTT) found he had a ‘reasonable excuse’ for failing to pay on time due to financial problems when his marriage broke down unexpectedly.

Prime Minister David Cameron is urging the G7 countries to go ‘further and faster’ to implement a new global standard for the automatic exchange of information on taxes and on country-by-country reporting, in a bid to stamp out tax evasion.

A married couple who were directors of a building contractor company which went into liquidation have won a case at the First Tier Tribunal (FTT) against claims by the HMRC that they were liable for payment of PAYE and income tax owed by the company when their business collapsed.

HMRC has tightened its grip on section 455 loans to owner managers, says Peter Rayney. Section 455, Corporation Tax Act 2010 (CTA 2010) is a key anti-avoidance weapon for owner-managed companies. Without it, owner managers could easily avoid a tax charge by arranging for ‘their’ company to lend them funds (as opposed to paying a ‘taxable’ bonus or dividend).

Take That was one of the big names caught up in the recent Acornwood case, also known as Icebreaker. Our resident tax expert, Meg Wilson, assesses the case and the implications for users of aggressive tax schemes