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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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Tax advice? Contact the Virtual Tax Partner® support service for advisers and their clients.

The contents of the site are subject to T & C & Copyright © 2021.

* The R&D & Patent Box zone is premium content and available separately.

HMRC have announced that taxpayers who do not file their 2019-20 tax return by 31 January 2021 will not receive a late filing penalty if they file by 28 February 2021.

HMRC have published a UK Transition Special Employer Bulletin. We summarise the key content for you.

Hello

This time we have been looking at an ever more diverse range of topical tax, from Freeports to free and subsidised staff lunches, from legal tax avoidance to tax enquiries.

HMRC have just published their Stamp Taxes news for January 2021. This is our enhanced version.

Hello

As we head towards 31st January, don’t forget to put in a Time to Pay agreement with HMRC if you are unable to settle your tax bill. We have updated our guides to ‘Reasonable excuse’ and ‘Insufficiency of funds’ this week. It is probably best to review these before the end of the month if it is likely that you or your clients are going to have any potential filing or late payment tax failure.

Welcome to our Tax Tools.

These original tax diagnostic tools aim to help you solve some really complicated tax questions in a matter of minutes.

Each tool is designed to save you approximately two to six hours of time. They are written for non-experts.

You can buy each on separately.

Click to learn more or purchase

What does it do?

  Already purchased? Click here for quick access

Business Asset Disposal Relief  business & asset disposals

CGT: this tool checks the Business Asset Disposal Relief (formerly known as Entrepreneurs' Relief) qualifying conditions for the disposal of the whole or part of a business, or assets used by the business when it ceases.

 BADR Sole Trader
 

 Business Asset Disposal Relief : share disposals

CGT: this tool checks whether you meet the Business Asset Disposal Relief (Entrepreneurs' Relief) conditions for the disposal of your shares in a private company.

There are two versions of this tool: one for disposals on or after 6/4/2019, and one for disposals made in earlier tax years.

BADR Shares from 6/4/19

BADR Shares to 5/4/19
 

* TAAR* tool for distributions

CGT/Income Tax: will you trigger the Targeted Anti-Avoidance Rule (TAAR) on a distribution made in respect of shares on winding up a company?

  TAAR Tool
*SDLT *Multiple Dwellings & Annexes

Stamp Duty Land Tax (SDLT: if you are buying two or more properties in a single transaction use this tool to see if you meet the qualifying conditions and you may be able to claim both Multiple Dwellings Relief and relief from the Higher Rate Charge

 SDLT MDR Annex Tool
R & D Zone

R&D Zone provides the tools to 'cut out the middle man' and make your own R&D claim directly with HMRC.

If DIY is not your thing, why not sub-contract the problem (it will be financially advantageous) via the Virtual Tax Partner support service at super-discounted rates.

 R & D Zone 
 *Reorganisations*

CGT, Corporation Tax, Income Tax, Stamp Duty.

These tools help company owners to resolve difficult company problems and then provide worked-through case studies, with step-by-step analysis and tax clearance templates. These cover 7 different company reorganisation situations:

  • Case Study 1: Tradeco, demerger of two trades
  • Case Study 2: Tradeco, demerger of its investment business
  • Case Study 3: Tradeco demerger of investment subsidiary
  • Case Study 4: Investco: Demerger of trading subsidiary
  • Case Study 5: Management Buyout via newholdco
  • Case Study 6: POS, buyout retiring shareholder
  • Case Study 7: Creating a group

 

 Reorganisations

 

* Starred* tools come FREE if you are already a full subscriber to the www.rossmartin.co.uk webservice.

Any guides on this site as well as the tools in the our Tax Toolkit above can be purchased on their own, with or without a subscription to www.rossmartin.co.uk, on a Pay-As-You-Go basis. 

If you are a tax novice, or not very confident in some areas of tax, all Tax Tools all work best with a www.rossmartin.co.uk subscription as then receive the full benefit of all interactive guidance.

To buy a tool: follow the link above (left-hand column)

Any queries? Contact us:

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  1. Nichola's SME Tax W-update 7 January 2021
  2. COVID-19: £4.6bn new grants
  3. Nichola's Tax Annual 2020
  4. Budget 2021 date announced
  5. Nichola's SME Tax W-update 17 December 2020

 

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