The following Value Added Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marked the end of the Brexit transition / implementation period entered into following the UK’s withdrawal from the EU. At this point in time, key transitional arrangements came to an end and significant changes began to take effect across the UK’s VAT and customs regime. This document contains guidance on subjects potentially impacted by these changes. Before continuing your research, see the Brexit — overview guidance note.
It is always useful to consider the views of the higher courts on subjects where the issues are not clear cut. The separation of business activities has yielded a number of interesting and significant cases. This guidance note provides some real-world examples of cases which looked at whether businesses run by associated people (often husbands and wives) were separate businesses or a single business.
For discussion of artificial separation of businesses generally, see the VAT registration ― artificial separation of business activities guidance note.
Mrs Smith ran the catering part of the business, but the only payment she made to her husband towards the facilities she enjoyed was to provide free sandwiches to pub customers on a Thursday night. It was argued by the Smiths that this was her way of paying for the kitchen and equipment facilities that she enjoyed on the hotel premises.
However, HMRC successfull
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IntroductionUK tax must be withheld on UK payments including:•interest•royalties•rental incomeWithholding tax may be reduced under double tax treaties (DTT) or European directives, both of which may be subject to making a formal claim.This guidance note outlines the rules for UK withholding tax, and
Normal due dateIndividuals are required to pay any outstanding income tax and Class 4 National Insurance, Class 2 National Insurance, and capital gains tax due for the tax year by 31 January following the end of the tax year (ie 31 January 2021 for the 2019/20 tax year). From 6 April 2020, UK
Maintenance payments are payments made by a taxpayer to their former or separated spouse for the maintenance of that former spouse or their children. To obtain any tax relief for maintenance payments, one of the couple must have been born before 5 April 1935 and the payments must be made by virtue
Expenditure of a capital nature is not allowed as a deduction when calculating trading profits. Expenditure of a revenue nature is allowable, provided there is no specific statutory rule prohibiting a deduction and the expenditure also satisfies the wholly and exclusively test. See the Wholly and
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