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This is a Practical Tax Database that is designed to act as your online tax partner. It can assist in answering your tax FAQs, and is packed full of useful and practical tax and business guidance.
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Agent update April/May 2019
HMRC have issued the Agent Update for April/May 2019. We have summarised the key content for you with links to our detailed guidance on the topics covered.
Nichola's SME Tax W-update 23 April 2019
Hello
Just a short update this week. Due to the Easter holiday there is very little in terms of 'latest tax news' and so we have picked our selection of new Private Client case decisions. We also feature a really useful VAT decision.
Input VAT allowed on director's legal fees
In Praesto Consulting UK Limited v HMRC [2019] EWCA Civ 353 the Court of Appeal allowed an input VAT claim in respect of legal fees invoiced to the director and not to the company.
HMRC increase AML fees from 1 May 2019
From 1 May 2019 HMRC are increasing their fees for money laundering supervision. If your business turnover is less than £5,000 you can apply for a ‘small business’ reduction.
Indemnity was not a guarantee
In Ron Dennis v HMRC [2018] TC 6868 an indemnity clause in a shareholder’s agreement was held by the First Tier Tribunal not to be a guarantee that qualifies for Loans to Trader capital gains tax (CGT) relief.
Nichola's SME Tax W-update 12 April 2019
Hello
This week's web-update features some cases that continue to explore the dark world of ITEPA 2003 and the PAYE regulations. There is a new consultation on Private Residence Relief and an new VAT guide that might be more handy than you realise.
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