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	<title>Mark McLaughlin Associates</title>
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	<description>Chartered Tax Advisers</description>
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		<title>HMRC: &#8216;Time to Pay&#8217;</title>
		<link>http://www.markmclaughlin.co.uk/index.php/archives/949</link>
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		<pubDate>Tue, 31 Jan 2012 06:38:14 +0000</pubDate>
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		<description><![CDATA[Most tax professionals and many taxpayers will be familiar with the concept of ‘time to pay’ (TTP) arrangements with HM Revenue and Customs (HMRC). The basic position of HMRC is that tax is payable when due by law (note &#8211; the tax legislation does allow certain tax liabilities to be paid by instalments, but such [...]]]></description>
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		<title>HMRC Enquiries</title>
		<link>http://www.markmclaughlin.co.uk/index.php/archives/943</link>
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		<pubDate>Mon, 30 Jan 2012 06:48:49 +0000</pubDate>
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		<description><![CDATA[Most tax agents involved with enquiry work will be familiar with the HMRC practice of &#8216;spreading&#8217;. This generally occurs when there is an agreed addition to the taxpayer&#8217;s income for the year of enquiry. HMRC will often seek to assess similar additions in earlier years, and sometimes to agree additions for later years as well. [...]]]></description>
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		<title>Share Loss Relief</title>
		<link>http://www.markmclaughlin.co.uk/index.php/archives/937</link>
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		<pubDate>Mon, 30 Jan 2012 06:41:09 +0000</pubDate>
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		<description><![CDATA[It is probably a sign of the present hard economic times that more taxpayers seem to be seeking tax relief for losses on investments in shares and business loans. This is reflected in the number of cases reaching the tax tribunal. Tax relief claims for losses against capital gains are prevalent. However, such relief generally [...]]]></description>
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		<title>Private Residence Relief</title>
		<link>http://www.markmclaughlin.co.uk/index.php/archives/935</link>
		<comments>http://www.markmclaughlin.co.uk/index.php/archives/935#comments</comments>
		<pubDate>Mon, 30 Jan 2012 06:37:19 +0000</pubDate>
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		<description><![CDATA[The Capital Gains Tax (CGT) relief on disposal of an individual’s only or main residence is very valuable and well known. Taxpayers are generally aware of the need to reside in the property, which is a fundamental requirement for principal private residence (PPR) relief. However, what degree of permanence and continuity is necessary to qualify [...]]]></description>
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		<title>Practice Update &#8211; January / February 2012</title>
		<link>http://www.markmclaughlin.co.uk/index.php/archives/930</link>
		<comments>http://www.markmclaughlin.co.uk/index.php/archives/930#comments</comments>
		<pubDate>Sat, 28 Jan 2012 12:49:30 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Practice Update]]></category>

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		<description><![CDATA[In this edition of Practice Update: 1. Private residence relief – The occupation, permanence and continuity requirements. 2. Share loss relief – Satisfying the conditions for income tax relief. 3. HMRC enquiries &#8211; The presumption of continuity (or &#8216;spreading’). 4. HMRC: ‘Time to Pay’ – Is HMRC getting tougher? Recent guidance suggests not. Download version [...]]]></description>
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		<title>Loan Relationships</title>
		<link>http://www.markmclaughlin.co.uk/index.php/archives/919</link>
		<comments>http://www.markmclaughlin.co.uk/index.php/archives/919#comments</comments>
		<pubDate>Sat, 26 Nov 2011 16:58:02 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<description><![CDATA[The loan relationships provisions for companies have been around since 1996, and it is fair to say that the legislation overall is complex. However, it is not normally difficult to identify a loan relationship for these purposes, although a recent case indicates that even this task may not be without its problems. The loan relationship [...]]]></description>
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		<title>Living Together</title>
		<link>http://www.markmclaughlin.co.uk/index.php/archives/913</link>
		<comments>http://www.markmclaughlin.co.uk/index.php/archives/913#comments</comments>
		<pubDate>Sat, 26 Nov 2011 16:48:46 +0000</pubDate>
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		<description><![CDATA[Married couples (and civil partners) benefit from favourable treatment for certain tax purposes. A common example is the ‘no gain, no loss’ capital gains tax (CGT) treatment for inter-spouse transfers (TCGA 1992, s 58). In addition, the inheritance tax spouse exemption is unlimited for transfers between UK domiciled spouses (although it is restricted to £55,000 [...]]]></description>
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		<title>Ownership Tax Issues</title>
		<link>http://www.markmclaughlin.co.uk/index.php/archives/907</link>
		<comments>http://www.markmclaughlin.co.uk/index.php/archives/907#comments</comments>
		<pubDate>Sat, 26 Nov 2011 16:40:05 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<description><![CDATA[It is straightforward in most cases to establish an individual’s income entitlement for tax purposes. However, there are exceptions. HM Revenue and Customs (HMRC) recently issued new guidance in its Trusts Settlements and Estates manual on the concepts of ‘resulting trust’ and ‘constructive trust’ for income tax purposes. These are &#8216;implied trusts&#8217;, which are created [...]]]></description>
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		<title>Penalties and Costs</title>
		<link>http://www.markmclaughlin.co.uk/index.php/archives/904</link>
		<comments>http://www.markmclaughlin.co.uk/index.php/archives/904#comments</comments>
		<pubDate>Sat, 26 Nov 2011 16:34:45 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<description><![CDATA[Taxpayers have recently been successful in a number of appeals before the tax tribunal on the grounds of ‘reasonable excuse’, mainly in respect of late filing penalties. One such case is highlighted below. In addition, the approach of HM Revenue and Customs (HMRC) in a case involving a discovery assessment was criticised by the tribunal, [...]]]></description>
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		<title>Practice Update &#8211; November / December 2011</title>
		<link>http://www.markmclaughlin.co.uk/index.php/archives/900</link>
		<comments>http://www.markmclaughlin.co.uk/index.php/archives/900#comments</comments>
		<pubDate>Sat, 26 Nov 2011 16:26:29 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Practice Update]]></category>

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		<description><![CDATA[In this edition of Practice Update: 1. Penalties and costs – The taxpayer fights back. 2. Ownership and tax issues – HMRC guidance on constructive and resulting trusts. 3. Private residence relief – Married couples ‘living together’ for CGT purposes. 4. Loan relationships – When is a loan not a loan? Download version (pdf): Download]]></description>
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