McLaren Racing Ltd v CRC, Upper Tribunal
D Keyl (TC3619)
Interfish Ltd v CRC, Court of Appeal
Howden Joinery Group (TC3396)
The Revenue paid £4.6bn in corporation tax refunds to around 286,000 companies in the year to 31 March 2013, according to accountancy UHY Hacker Young.
The firm’s tax head, Roy Maugham, said the figures highlighted the importance for businesses of reviewing corporation tax liabilities, with repayments sometimes taking between 12 and 24 months to organise – although two to three months is typical.
The European Commission (EC) has opened investigations into whether decisions about corporation tax to be paid by Apple, Starbucks and Fiat complied with European Union (EU) rules on state aid.
The commission has been examining tax practices in several member states, following media reports alleging that some big businesses received significant reductions by way of rulings issued by national tax authorities. Decisions can involve state aid if they provide selective advantages to a specific company or group of companies.
Tax issues to consider on the incorporation of a general partnership
By Mark McLaughlin and Jackie Anderson; £95; paperback; 496 pages, Bloomsbury Professional
Next Distribution Ltd, Next Group plc, Paige Group Ltd v CRC, Upper Tribunal (Tax and Chancery Division)
A client trades through a limited company of which he is the sole director and employee. His wife owns 50% of the company’s shares. The client will attend a four-day skills update course in the US
The tax sector’s controversial new assurance standard is aiming to raise capital through the issue of shares.
Investors are being invited to put a minimum of £200 into the Fair Tax Mark (FTM), which is designed to encourage transparency by firms that pay corporation tax.
The FTM is registered with the Financial Services Authority as an industrial and provident society (IPS), categorising the standard is a not-for-profit organisation operating a business for the benefit of the community.
Ghelanis Superstore & Cash and Carry Ltd (TC3251)