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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 thought that this week would be quite quiet from an editorial point of view, but far from it. In this time's web-update, our highlights are our latest Company Tax update, news of the Jobs Retention Bonus, a useful VAT decision from the Upper Tribunal for online agencies and an updated guide to the taxation of cryptocurrences and cryptoassets. 

HMRC have issued a policy paper expanding the details of the coronavirus 'Job Retention Bonus'. The bonus is a one-off payment to employers of £1,000 for every employee who they previously claimed for under the Coronavirus Employee Job Retention Scheme (CJRS) and whose employment is maintained until the end of January 2021.

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Hello

This time we have a capital taxes round-up. We look at the options of those thousands of taxpayers who still have Employee Benefit Trust loans, we review some topical cases and we have new CPD.

In Ian Shiner & David Sheinman v HMRC [2020] TC7779, the First Tier Tribunal (FTT) disallowed interest on loans to members of a trading partnership. The loans were taken by the partners as investors and not the partnership and the interest paid was not wholly and exclusively for the partnership trade.

In Edward Burrell v HMRC [2020] TC07766, First Tier Tribunal (FTT) found the construction of a houseboat did not meet the 'construction of a building designed as a dwelling' and therefore did not qualify for the DIY scheme.

  1. Nichola's SME Tax W-update 30 July 2020
  2. Coronavirus Government Support update: July 2020
  3. TalkSPORT obliged to provide work, presenter was an employee
  4. SME Tax Monthly Summary July 2020
  5. Nichola's SME Tax W-update 23 July 2020