ARTICLE · 28 MARCH 2012

Weekly Tax Update - Monday 19 March 2012

Smith & Williamson

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Initial thoughts and commentary on the Budget announcements will be available on the Budget page of our website from Wednesday afternoon onwards.

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Richard Mannion

1. GENERAL NEWS

1.1. Budget 21 March 2012

Initial thoughts and commentary on the Budget announcements will be available on the Budget page of our website from Wednesday afternoon onwards.

www.smith.williamson.co.uk/budget

2. PRIVATE CLIENTS

2.1. Whether HMRC has jurisdiction to consider a discretionary discretion

In the case of Michael Prince and related appeals (TC01852) the First Tier Tribunal considered whether it had the necessary jurisdiction to consider an appeal against HMRC's refusal to apply Extra Statutory Concession (ESC) A19.

ESC A19 states that arrears of income tax or capital gains tax may be given up if they result from the Inland Revenue's failure to make proper and timely use of information supplied by—

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