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"Plant" has no statutory definition, although the legislation does designate a few assets as plant (e.g. "integral features", expenditure on safety at sports grounds and personal security assets) and also defines what cannot be plant (called "buildings" and "structures"). Plant is defined by more than 100 years of case law.
When an asset is disposed of and there is a capital gain, there is a potential that there is a requirement to report this capital gain to HMRC. Reporting requirements depend on the nature of the asset. UK residential property. A sale of UK residential property on or after 6 April 2020 must be reported, and any CGT paid, within:
HMRC may then issue a determination of the tax payable, [209] which cannot be appealed – however, in practice they wait until a further six months have elapsed. Also, the most common claims and elections that may be made by a company have to be part of its tax return, with a time limit of two years after the end of the accounting period. [ 210 ]
His Majesty's Revenue and Customs (commonly HM Revenue and Customs, or HMRC) [4] [5] is a non-ministerial department of the UK government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory regimes including the national minimum wage and the issuance of national insurance numbers.
HMRC was not unjustly enriched by a payment to discharge a tax liability because the tax liability must have been due under the statute. Even if HMRC was enriched by the value of the claimant's forgone tax relief credits, and even if the gain would not have been made but for the claimant's use of the relief, HMRC did not gain at the FII Group's ...
In October 2016, it was reported that the government had set a target of recovering £500 million a year from overseas visitors treated in NHS hospitals in England, which had been "refined" to £346m for 2017-18, according to the National Audit Office. £289m was collected in 2015–16 and £73m in 2012–13.
The ultimate dispute resolution for a taxpayer is to leave the jurisdiction, taking all property that could be seized. For governments, the ultimate resolution may be confiscation of property, incarceration or dissolution of the entity. Other major conceptual differences can exist between tax systems.
A common type of property tax is an annual charge on the ownership of real estate, where the tax base is the estimated value of the property. For a period of over 150 years from 1695, the government of England levied a window tax , with the result that one can still see listed buildings with windows bricked up in order to save their owner's money.