Owners of stately homes are a fairly rare breed but those that open their doors to the public will be considering whether they can benefit from a recent Court of Appeal Case. The ongoing saga of HMRC v The Executors of Lord Howard of Henderskelfe recently reached the Court of Appeal.  The taxpayer came out on top again in this round of judgements having previously being successful in the Upper Tribunal and High Court.  With a lot of tax at stake it is likely that HMRC will appeal the decision to the Supreme Court, but we must wait to see.  HMRC had been provided with initial encouragement after a win in the First Tier Tribunal. Crux of the Case The late Lord Howard's estate sold a 'Old Master’ painting by Sir Joshua Reynolds for...

A roundup of the latest news from the world of tax including highlights from the Autumn Statement 2013 and recent tax cases of interest. Click on the links below to view the full articles. Demolition of a home - Private Residence Relief and CGT The recent case of Paul Gibson v HMRC provides some interesting points in relation to capital gains tax and Private Residence Relief. Entrepreneur's Relief & Surplus Cash We have recently been involved in a recent case where assurance was sought from HMRC that surplus cash would not affect the company's trading status. New Reliefs for Indirect Employee Ownership  An outline of the new rules for qualifying "Employee Ownership Trusts". Changes to Capital Gains Tax - Autumn Statement 2...