How to appeal against a tax decision

How to appeal against a tax decision

It is not unusual for taxpayers to find themselves in a position where they disagree with a tax decision made by HMRC. There are a number of different options open to taxpayers seeking to use the review and appeals process. Note, there is a separate procedure to be...
HMRC win Littlewoods’ tax case

HMRC win Littlewoods’ tax case

HMRC has won a landmark case after the Supreme Court overturned an earlier decision of the Court of Appeal. The issue at hand concerned historic overpayments of VAT by Littlewoods (a catalogue sales business) between 1973 and 2004. In 2004, HMRC accepted that the VAT...
Are your bank deposits protected?

Are your bank deposits protected?

The bank deposit guarantee limit is the amount of money that is guaranteed for savers in UK banks and building societies should the institution become insolvent. The Financial Services Compensation Scheme (FSCS) guarantee amount is currently £85,000 per person, per...
Interest rates start to rise

Interest rates start to rise

In a widely expected move, the Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the Bank Rate from 0.25% to 0.5%. This is the first increase in interest rates since July 2007 when the rate increased to 5.75%. The interest rate...
Gazumping may become a thing of the past

Gazumping may become a thing of the past

The Communities Secretary Sajid Javid has announced plans to make the process for buying a home‘cheaper, faster and less stressful’. This includes looking at new measures to tackle gazumping where a seller accepts a higher offer from a new buyer after...