Hello again
This time we have a short web-update as we re-visit a case from last year - featuring incorporation and letting. Even though it is the only case on s162 incorporation relief, and the decision came from the Upper Tier Tribunal, HMRC have not adjusted its manuals. Probably an oversight on their part, or maybe a lack of budget?
Top news is that HMRC have finally decided to allow some Mansworth v Jelly CGT relief claims, so that long running saga looks as if it will finally end. These claims date back to 2002.
We have a new subscriber guide to pensions Auto Enrolment. There is quite a lot of work to be done in setting up schemes and advisers really need to be getting their clients ready now. Many smaller employers will find that they can set up their scheme online using the Government's NEST - follow the links below.
Also we have answered a FAQ on contractor tax planning - the question is always asked. Read on.
Scroll down for news and updates.
Best wishes
Nichola Ross Martin FCA Tax Director
Your online Virtual Tax Partner®: practical support for accountants, tax advisers and their clients.
FREEVIEW
S162 incorporation relief and let property
UPDATE: we revisit an Upper Tier Tribunal decision which confirmed that property letting is a business for s162 relief. HMRC seems to have not updated its manuals.
Mansworth v Jelly
UPDATE: HMRC concedes to allow some claims. Includes "At a glance" guide to the background.
Auto-enrolment
Summary
Subscriber NEW guides and UPDATES
Property letting: CGT and IHT issues
UPDATE: at a glance guide to the different rules which apply depending on your activity and desired tax relief
Auto-enrolment – workplace pensions (subscriber guide)
NEW: this week's essential reading
Auto-enrolment - client letter
An adaptable template introducing auto-enrolment
Contractor tax planning: does it work?
NEW: answering one of those FAQs that goes round and round
CIS tax penalties
UPDATE: new worked examples and links to case decisions.
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