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UK tax weekly: quay wall capital allowances; VAT charity fundraising exemption; tribunal costs order upheld; OECD Pillar One; cryptoasset CGT and MTD ITSA updates; staking not CIS; HMRC Manuals

Published on: 16 January 2025

Published by a LexisNexis Tax expert
Legal News
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In this issue:

  • Capital allowances
  • VAT
  • Taxes management and litigation
  • International
  • Capital gains tax
  • Individuals and income tax
  • Funds
  • Daily and weekly news alerts
  • New and updated content
  • Dates for your diary
  • Trackers
  • Useful information

Capital allowances

FTT decides that quay wall qualifies for capital allowances (The Mersey Docks and Harbour Company Ltd v HMRC)

As highlighted last week, in The Mersey Docks and Harbour Company Ltd v HMRC [2024] UKFTT 1163 (TC), the FTT upheld the taxpayer’s entitlement to plant and machinery allowances on costs incurred in constructing a quay wall, undertaken as part of delivering a new port terminal in Liverpool. See News Analysis: FTT decides that quay wall qualifies for capital allowances (The Mersey Docks and Harbour Company Ltd v HMRC).

VAT

UT decides that admission to the Great Yorkshire Show qualified for VAT charity fundraising exemption (HMRC v Yorkshire Agricultural Society)

As set out below, in HMRC v Yorkshire Agricultural Society [2025] UKUT 4 (TCC), the UT concluded that admission charges for the Great Yorkshire Show were exempt from VAT under VATA 1994, Sch 9, Group 12, Item 1...

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