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...is futile – or is it? A tribunal decision may have overturned an assumption about the allocation of deductions under the CIS
KEY POINTS
- Can CIS deductions reduce the liability of a previous tax year.
- The CIS set-off rules appear to be different for individuals and companies.
- Does the fact that there is no liability mean there can be no surcharge?
- Should HMRC have used their discretion?
- Why could the tribunal not reduce the surcharges.
When I were a lad you could phone up an office of the Inland Revenue (as was) whenever you liked and get an answer.
Well maybe not during the lunch hour and Friday afternoons were a bit problematic perhaps; but other than lunch hours and Friday afternoons (OK and maybe first thing Monday mornings) you could get to speak to someone locally who probably dealt with your client on an ongoing basis.
Happy...
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