Directors providing services to their own company: can it work?

    Rebecca Walker considers the recent Tribunal case of Petrol Services Ltd which saw HMRC successfully argue that the split contract arrangement did not work; all income was a result of the directors’ office holding, with none attributable to the separate consultancy contracts in place.
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    Goodwill valuation successfully defended

    HMRC’s stance on the valuation of goodwill in trade-related properties has become much stricter. Therefore advisors need to be prepared for their original valuations to be robustly challenged. Plan for the worst and hope for the best!
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    Use of labour providers

    HMRC are writing to businesses who have outsourced both their payroll and their employees to a third party labour provider. The reason for the letter is to notify the business that they believe the third party has not accounted for all of the PAYE and VAT and asks for information and assurances regarding due diligence undertaken.
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