The latest issue of M-Tax published by the Tax Team at McGrigors can be viewed here: McGrigors M-Tax – issue 31 pdf

It contains a comprehensive round-up of the Budget and some case summaries for important recent decisions in direct and indirect tax matters:

Michael Prince v HMRC  [2012] UKFTT 157 – jurisdiction of the tribunal on matters of public/administrative law

HMRC v First Nationwide [2012] EWCA Civ 278 – A payment by a company is either income or capital depending on the mechanics of the payment

James Alber McLaughlin v HMRC [2012] UKFTT 174 –  payment sot beneficiary under a tax planning scheme

Macaw Properties Limited v HMRC [2012] UKFTT 167 – recovery of input tax in relation to transactions prior to the start of a business, objective evidence of intention

Gosling Leisure LTD v HMRC [2012] UKFTT 170 – “strict property law” not necissarily relevant to determining right to recovery of input tax in relation to premises

Shop Direct v HMRC [2012] UKFTT 128 – Repayments of VAT (and interest) are liable to corporation tax in certain circumstances (nb there are 4 appendices to the decision in 3 documents: 1, 2, 3)

Enjoy