The Chancellor, Jeremy Hunt make his 2023 Budget speech at 12.30 today. Live highlights of his speech will follow here. Further details will be published by the government online via HMRC and Treasury channels following the speech.
Nichola's SME Tax W-update 9 March 2023
Hello,
This week we continue to explore optimising owner-director remuneration, we look at business start-ups, whether you are trading or acting as a landlord, and we have some new tax guides for pubs and brewers, new VAT briefs, further updates, tax cases and news.
LLP and corporate members were related for IP amortisation
In Muller UK & Ireland Group LLP & Ors v HMRC [2023] TC08742, the First Tier Tribunal (FTT) held that a Limited Liability Partnership (LLP) was related to all of its corporate members despite not being a 'company'. As a consequence, the relief claimed for the amortisation of Intellectual Property (IP) acquired from those companies was denied.
Nichola's SME Tax W-update 2 March 2023
Hello,
This week we consider how landlords can cheaply top up their entitlement to the State pension and we have new CPD covering the taxation of couples. We review HMRC's Stamp Duty Newsletter from HMRC and a couple of case reports which show what happens when professional advice goes wrong. We also have updates on capital gains reporting and the tax treatment of compensation received by postmasters.
Pay Self Assessment tax by 3 March to avoid penalties
Self Assessment taxpayers who do not make their 2021-22 balancing payment by 3 March 2023, face a 5% late payment penalty. A penalty may be avoided by setting up a Time to Pay agreement before the penalty deadline.
Nichola's SME Tax W-update 23 February 2023
Hello,
This time we have new Agent and Employer updates, another reminder to top up voluntary NICs, and a new remuneration optimising calculator.
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