HMRC Loses Child Benefit Case 

HMRC cannot issue discovery assessments to recover the high income child benefit charge from a taxpayer not within self-assessment. The Upper Tribunal so held in its binding decision in HMRC v Jason Wilcox 2021 UKUT 0150 TCC. Discovery assessments issued to other taxpayers who are not within self-assessment may now be challenged.

Loan Collateral - HMRC Guidance Changed

Recent changes in the HMRC remittance basis manual have caused some concern. The relevant debt rules provide that there may be a taxable remittance if funds borr...