Recent News & Events

Pulsin’ Limited v. HMRC ~ Philip Simpson QC

Philip Simpson QC successfully represented the taxpayer in the case Pulsin’ Limited v. HMRC. The taxpayer manufactured gluten-free brownies. The question was whether they were cakes for VAT purposes, and therefore should be zero-rated. After a hearing that included a tasting session of Pulsin’s products as well as other, similar brownies, the FTT concluded that all four flavours of the taxpayer’s products were cakes.

This case follows on from Mr Simpson’s success, again for the taxpayer, in Lees of Scotland Limited v. HMRC [2014] UKFTT 630.

VAT and the evolution of the special investment fund ~ Etienne Wong

Etienne Wong recently had an article he co-authored with Alex Tostevin of Dentons published in the Tax Journal. A copy of article VAT and the evolution of the special investment fund can be seen here*.

*This article was first published in the 16 November 2018 issue of the Tax Journal, and is reproduced with the kind permission of the publishers. All rights reserved.

Free Seminar: Tax Administration and Taxpayer Rights – 21 November 2018

Old Square Tax Chambers hosted an afternoon seminar on Wednesday 21st November 2018 where Philip Simpson QC, Rory Mullan and Ross Birkbeck discussed Tax Administration and Taxpayer Rights.

Seminar Timetable

15:45 – 16:15 Tea & Coffee

16:15 – 16:50 Rory Mullan – Challenging assessments

Applicable time limits for assessments, enquiries and closure notices – extended time limits and the burden of proof – limits on discovery assessments.

16:50 – 17:25 Ross Birkbeck – Issues with closure notices

When are they available and when can they be appealed — Questions of formality — Uncertainties in the partial closure regime

17:25 – 18:00 Philip Simpson QC – Time limits for claims

General issues with making claims – dealing with missed time limits – claims after assessments / amendments – HMRC’s care and management discretion

Copies of the speakers’ notes are now available to download here.

Ryanair: holding companies recovering VAT

Etienne Wong recently had an article entitled “Ryanair: holding companies
recovering VAT” published in the Tax Journal. A copy of the article* can be seen here.

*This article was first published in the 26 October 2018 issue of the Tax Journal, and is reproduced with the kind permission of the publishers. All rights reserved.

Free Seminar: Taxation of Trusts – Notes Available

Old Square Tax Chambers hosted an afternoon seminar where Robert Venables QC, Harriet Brown and Patrick Boch discussed the Taxation of Trusts.

The seminar was held from 16:00 on Wednesday 31st October 2018.

The notes are now available to download from here.

This seminar is free of charge.

Seminar Timetable

16:15 – 16:50 Harriet Brown – Halloween Horrors: Terrible Trust Tax Trip-Ups Taken From Case Law and Practice
IHTA, Schedule A1: things you might not have noticed – Requirement to correct: what can be done now? – Barclays Wealth Trustees: a few points to take away – IHT DOTAS – FATCA conviction – Thompson v Thompson: estoppel and inheritance – Singh and ors v Sebastian Ash: proving intentions in rectification

16:50 – 17:25 Patrick Boch – The transfer of assets abroad escape clause – any room for manoeuvre?
Overview of the TAA provisions – the escape clause (s 737 ITA 2007) – what is “avoiding”? – what is a “purpose”? – application to a trust scenario – overview of the EU law defence.

17:25 – 18:00 Robert Venables QC – Employee Benefit Trusts – Are They Still Worthwhile?
IHT and CGT Advantages post Barker v Baxendale-Walker – Taxation of Employees on Contributions to Trust post Murray – Provision of Capital Sums for Employees without Disguised Remuneration Charge – the April 5th 2019 Employee Loan Charge – Deductibility of Contributions to Trust for Employer.

 

Corporation Tax Loss Reforms – MBL Seminars ~ Sarah Squires

Following on from the seminars that Sarah Squires gave on the new corporation tax loss reforms earlier in 2018, she will be speaking again for MBL at the following:

Leeds (8 November)
London (4 December)

For more information, please click here.

UPDATED Practice Note on Sukuk – investment bond arrangements and UK VAT

Etienne Wong has recently updated his Practice Note on Sukuk – investment bond arrangements and UK VAT, a copy of the updated Practice Note* can be seen here.

*This article was first published on Lexis®PSL Tax in 2014 and updated in the autumn of 2018, and is reproduced with the kind permission of the publishers.  All rights reserved.

Keeping it quiet ~ Article by Patrick Cannon

Patrick Cannon recently had an article entitled “Keeping it quiet” featured in Taxation Magazine.

A copy of the article can be seen here.

Tax Planning for 2019 – Key Haven Publications Ltd

Robert Venables QC, James Kessler QC and Ross Birkbeck will be among the speakers for Key Haven Publication’s Two-Silk Afternoon at The Law Society’s Hall, London WC2A on Tax Planning for 2019.

The seminar will be held on 14 November 2018, with further information available here.

Character World Limited v. HMRC [2018] UKFTT 456 (TC)

Philip Simpson, Q.C., successfully appeared for the taxpayer in the recent case of Character World Limited v. HMRC. It concerned whether slankets (items made out of fleece material, in the shape of blankets but having sleeves) attracted zero-rating on the basis that they were clothing designed for young children. It was agreed between the parties that the size made them suitable for young children (as did the design, which was of various well-known cartoon and other characters). The question was whether they were ‘designed as clothing’). The First-tier Tribunal agreed that slankets were designed to be worn, and accordingly that they were to be zero-rated.

A copy of the judgment can be seen here.