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: Last Updated: 28 March 2014

Excuse the title of this tax update, obviously a pun on treat/tweet. I am not really trying to produce this update in 140 characters, it is just shorter than normal as I have a broken thumb. Another settlement provision case has hit the headline, it is a bit like "Midsummer Murders"...can we really believe that there are so many cases on this topic? Key points from the judgment, DIY defences are probably not a good idea when you face such technical issues, and do stop issuing non-voting shares to spouses! Our full update service resumes in September. All the best Nichola Nichola Ross Martin FCA Tax Director www.rossmartin.co.uk Your online Virtual Tax Partner: practical support for accountants, tax advisers and their clients
NEWS A new 'settlements' case: with a twist An upset for HMRC, a new settlements case, husband and wife, different share classes and dividends, but who was the settlor? Valuation: new rules for employee cycles A new method of valuing second-hand cycles for benefits-in-kind purposes. The Spending Challenge: time to vote Win an iPod? - not a chance! Vote on over 44,000 ideas to reduce Government spending and waste. Proposed changes to furnished holiday lettings A new consultation proposes a tightening up of the tax rules for furnished holiday lettings. Taxman gains pounds with Weight Watchers? Tribunal deems 1,000 Leaders to be employees. The company appeals. Updates, New tax guides and checklists For PAID subscribers only (because you're worth it :) Salary sacrifice schemes UPDATED: reminder on restriction of relief for subsidised meals from 2011/12. How to avoid paying tax at 50% UPDATED: rewritten with new links and updates for the second Finance Act of 2010. Employer-Financed Retirement Benefits Scheme (EFRBS) NEW: considering retirement abroad or confused by UK pensions rules? Remember to discount for hidden costs (and the fact that HMRC is not a big fan). Purchase of own shares – out of capital NEW: this note provides a brief outline of the steps required under the new process of a repurchase out of capital. Tax Planning for 2010/11 and 2011/12 For advisers only: our UNIQUE CROSS TAX planner is updated as each Finance Act rolls off the press. Pensions: tax planning guides UPDATED: this also links to our Directors' guide which has also been updated. Agency Workers NEW: PAYE/NICs rules, travel, and who does what if tax is not deducted correctly. Enterprise Management Incentives (EMIs) FREE guide to tax-advantaged share options. EMI: checklist UPDATED: planning a share scheme? We provide a step-by-step checklist. Finance Act 2010: tax planner for tax advisers UPDATED: KEY reading this quarter planner with links to show what is new for 2010/11 and expected in 2011/12. Most popular Can I charge my company rent for use of my home? NEW: for Directors, a licence or a lease with planning points and a worked example, links to our Licence for non-exclusive use of a property Work related accommodation & hotels NEW: for Directors, can my company rent a flat without a BIK charge on me? Travel rules for owner-managers NEW: nothing to do with the Budget, but a new guide for Directors to celebrate HMRC's recent Employment Income manual updates. CGT: Entrepreneurs' Relief UPDATED: new examples and a new section to explain the consequences and interaction with CGT deferral using loan notes. Furnished Holiday Letting UPDATED: on current situation plus new rulings on VAT. Associated companies checklist - Free view UPDATED: added links to CIHCs and tax rates NEW Main Menu headings Private Client Our CGT and property guides (including FHL) are now located here. Penalties & Compliance The new home for our guides and summaries to penalties, disclosure regimes and compliance visits are now located here. Recent additions Enterprise Management Incentives (EMIs) FREE guide to tax-advantaged share options. EMI: checklist LOCKED (for subscribers) Planning a share scheme? We provide a step-by-step checklist. Tax penalties: P11Ds UPDATED to resolve queries about interaction of tax and NICs regs. Tax Avoidance Schemes Better the devil you know? We run through the top favourites (from HMRC approved to contrived and artificial) for Income Tax, Corporation Tax, Capital Gains Tax and SDLT. Converting part of a home into an office NEW for Directors: do you pay or does the company foot the bill? We examine the tax consequences. Converting part of a home into an office NEW for the Self-Employed: the tax position is interesting from CGT to SDLT to VAT.
Classics and favourites Accounts: tax health check (self-employed) A practical tax toolkit (think HMRC's toolkits but add planning, useful tips and tax know-how). Property profits and losses This essential tax tool is an excellent source of online CPD. Download this onto your mobile, train staff, and of course brief your clients...More Practical Tax Toolkits For companies, these are continuing to be updated. You have to pay to subscribe to unlock the full content in www.rossmartin.co.uk. Recommendations: what do our subscribers say about us? Free guides - take a tour... You have two options: 1. Explore the site (then click on the menus and you will soon see what is free) 2. See a small sample. Missed an edition? See Nichola's SME Tax News Archive. Subscribe to the Practical Tax Database to UNLOCK your internet Virtual Tax partner: What do you get? Open access to the entire Practical Tax Database which contains over 350 tax and legal guides packed full of essential know-how for advisers. Our regular Email update when there are new guides and tax issues that we think you MUST read. Up to 50% off the Virtual Tax Partner helpline. Nichola’s monthly SME tax news summary (we do the reading and cherry pick the best of the press, magazines and websites for you). NEW our Quarterly Tax Refresher (for advisers ONLY) + our Quarterly Employer Briefing. A 25% discount to our NEW tax webinar-update service). You can also commission guides and checklists for your own practice, post comments and upload your own articles. You can access the Virtual Tax Partner service for FREE quick calls, or just a chat.