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This Practical Tax Database and Virtual Tax Partner® Toolkit is your online tax partner. It answers all your key tax FAQs, is packed with useful and practical tax and business guidance.

The information gathered here is split into tax planning guides, FAQs, know-how and tools. With worked examples and tax compliance checklists.

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Hello,

I gave a talk on the new Construction Industry Scheme (CIS) reverse charge VAT measures (due to apply in October) this week. My chatty audience asked many questions and we worked through many of the practicalities of implementing the changes that are required to reverse charge your supplies. I am not sure that any of my software currently allows me to use both cash and accruals accounting at the same time and I wonder how many people have actually tried a ‘walk through’ of a typical construction contract under the proposed measures. I recommend that you have a go.

HMRC have announced a change to the extension of the off-payroll rules (IR35) to the private sector which will now only apply to payments made for services provided on or after 6 April 2020.

Hello,

Last week, the government published draft legislation detailing the 6 April 2020 changes to National Insurance thresholds. Disappointingly, they have decided to diverge the thresholds at which employee and employer make contributions. We see the divergence of the thresholds as an added and unwelcome complication and something that is really annoying if you are programming software and tools.

The House of Lords Finance Bill Sub-Committee has published a new call for evidence on the extension of the off-payroll working rules to the private sector. The Treasury announced the review in January in the hope of ensuring smooth implementation of the rules which come into force in April 2020.

Hello,

As we near the end of  ‘Self Assessment, Season 23’ (it all started back in 1996), I am sure that we are all relieved that it's over.

HMRC have released guidance on the new rules for non-resident companies owning UK property and when they move from income tax to Corporation Tax in April 2020.

  1. Nichola's SME Tax W-update 23 January 2020
  2. Latest update: changes to the loan charge
  3. Nichola's SME tax W-update 16 January 2020
  4. Nichola's SME Tax W-update 9 January 2020
  5. Treasury announces review of Off-payroll rules