UKLawyers Archive of Money, Property and Tax Materials - March 2006
Materials published by us on 30 March 2006
Jones v Garnett: Further Advice - Revenue to Appeal
HMRC Advice
24 March 2006
HMRC have been given leave to appeal against the Court of Appeal's
decision in the Arctic Systems case and we will lodge our appeal
shortly. Taxpayers who think they may be affected should continue
to follow the guidance issued by HMRC in January when completing
their tax returns.
Protection For Foreign Credit Card Transactions
Office of Fair Trading v Lloyds TSB Bank plc [2006] EWCACiv 268
CA
22 March 2006
Daily Law Notes Report Summary
S 75(1) of the Consumer Credit Act 1974, under which lenders who
provided credit for the purchase of goods or services incurred
"connected liability" for any misrepresentation or breach of
contract proved against a supplier, applied regardless of whether
the relevant transaction had taken place inside or outside the
United Kingdom.
Materials published by us on 23 March 2006
Pensions A-Day: 10 Key Facts You Need to Know
Inland Revenue Press Release
17 March 2006
On 6 April (A-Day), new simplified rules come into effect around
how pensions are taxed, offering simpler and more flexible
retirement arrangements. This is what you need to know!
Money Laundering - Third Directive On Its Way
STEP Article
February 2006
All trust and company service providers within the EU will be
affected by the Third Money Laundering Directive (3MLD), and there
will be implications for providers outside the EU in dealing with
EU-based clients. Importantly it will also have considerable
implications for all trustees (whether inside or outside the EU)
doing business with anyone who is subject to 3MLD.
Clearer Pricing Information for Online Supermarket Shoppers
OFT Press Release
16 March 2006
Supermarkets offering grocery shopping online have agreed to give
customers better price information, following action by the OFT.
Asda, Sainsbury, Tesco, Waitrose (see note 1) and Ocado (see note
2) have agreed to provide clearer information about their online
pricing after the OFT received complaints from customers that the
prices charged for groceries on delivery were different from those
advertised on the websites.
Materials published by us on 16 March 2006
Forget 'Charity Certificates' - Use the Web
Charity Commissioners Press Release
14 March 2006
http://digbig.com/4gsfj
The Commission's Chief Executive, Andrew Hind, said,
"If your clients are registered charities there is a quick, easy
and accurate way to check - look them up on our online register of
charities and print off their entry. For those who want to
continue claiming Stamp Duty Reserve Tax exemption this really is
the only proof needed that they are what they say they are."
Useful for SDLT exemptions too presumably.
Materials published by us on 9 March 2006
Law Society Goes to Court to Defend the Right to
Choose Who Executes Your Will
7 March 2006
The Law Society has intervened in the courts so that partners in
solicitors' firms appointed as executors in clients' wills should
retain their appointment – even if the firm subsequently converts
into a limited liability partnership (LLP). Since 2003, the
probate registrars have been rejecting applications for grants of
probate from solicitors (other than those named in a personal
capacity in the will) where partners in a firm had been appointed
as executors, and the firm had later converted to LLP status. The
Law Society's view is that this policy ignores the intentions of
the person who made the will and just leads to extra costs and
delay in administering the estate.
Tips, Gratuities, Service Charges and Troncs
Updated HMRC Booklet7 March 2006
This booklet is for employers and troncmasters within
the catering and service industries. It covers the
treatment of tips, gratuities and service charges for
Income tax, National Insurance contributions (NICs),
National Minimum Wage (NMW), and VAT purposes,
including the treatment where a tronc exists.
Tax Treatment of Charities and Donors
Updated HMRC Website6 March 2006
HMRC charities have restructured the Charities and Donors guidance
with a number of enhancements to make it easier to use.
VAT on Company Cars
Customs and Excise Commissioners v Elm Milk Ltd [2006] EWCA Civ164
CA
3 March 2006
Daily Law Notes Report Summary
A claim to recover input tax on the purchase of a Mercedes motor
car for business use by a sole director of a small company
succeeded, it having been established that he intended to use it
exclusively for business purposes and that there were suitable
contractual restraints in place making it unavailable for private
use.