In this web-update we feature a cautionary tale of clogged CGT losses and have one of our Adviser Essentials covering...losses.
I know that losses don't sound that interesting, but trust me on this and read on. I am not exaggerating when I suggest that 2013/14 will be a minefield for advisers and a crystal ball (should such a thing exist) would surely be this season's must have tax App.
Please read on for news, toolkits, briefings, and updates.
Nichola Ross Martin FCA
Your online Virtual Tax Partner: practical support for accountants, tax advisers and their clients
High Income Child Benefit Tax Charge
Only two new questions to go on the 2012/13 tax return & HMRC is making a new calculator
Mansion tax(es) - at glance
Plans to tax individuals (and unsettle the coalition) may have been thrown out, but new annual tax charges apply on higher value property for corporate owners and other non-natural persons from April
Fees and subscriptions (professional bodies)
HMRC updates List 3: have all employees claimed tax relief yet?
CGT Top tips: losses & connected persons
Think twice before selling property to your company at a loss; a cautionary tale of clogged losses
for paying subscribers only
Adviser planning update: losses
READ THIS and don't trip up: navigating the new losses minefield in 2013/14
Annual Investment Allowance
NEW: a handy summary with planning points
Property Sales campaign
Top tips on HMRC's latest disclosure opportunity
Capital Taxes round-up - March 2013
Topical tips and case law on CGT main residence relief and elections, CGT hold-over relief, Furnished Holiday Letting, timing Time to Pay agreements and IHT relief
Do I pay a salary or dividend? 2013/14
UPDATE and re-write of last year's highly popular guide and is designed to save you having to do all these workings yourself
Tax masterclass: running an LLP & Co structure
UPDATE: this guide is for trading companies and professional practices: we see many different structures
New: a summary of the proposed rules. You may also register now for new Masterclass
ABC or alphabet shares: directors & employees
UPDATE: essential reading for directors
ABC or alphabet shares: family companies
UPDATE: issues for the family
Employment status checklist
UPDATE: three new cases add some dimension to the existing tests
Distributions & striking off
NEW: this guide explains the rules now that ESC C16 has been legislated and notes potential planning points and pitfalls
High Income Child Benefit Tax Charge
The new charge explained with helpful flow charts to decide who pays and when
Accountancy & tax fees
What is allowable and what is not
Employer pension contributions
Last chance for income tax and NICs relief for pension contributions made on behalf of an employee's family
Disappearing tax reliefs
Tax reliefs that are disappearing in April 2013
Tax planning for income at marginal tax rates
Strategies to avoid unexpected tax charges such as the High Income Child Benefit Tax Charge (HICBC)
Private Client tax planning for the 2012/13 year-end
Topical tips on dealing with proposed changes in 2013
Directors' tax planning toolkit 2012-13
Read this in conjunction with the Private Client tax planning checklist above
Property profits & losses: toolkit
Our toolkit covers the points made in HMRC's version but adds a great deal more information about what you can and can't claim
Controlled Foreign Companies (CFC)
NEW: an introductory summary for SME owners and advisers
AIA: rules where there is a change of rate
Guides to dividends: minutes, warrants and tax on unlawful distributions
What is the minimum level before NI becomes due?
Tax-free benefits in kind and perks
UPDATE: last chance for a cyclists breakfast!
Directors' loan accounts: toolkit
HMRC's instruction to its staff is that they examine directors' private expenditure during the course of an enquiry into a close company's books and records
Tax penalties: RTI (Real Time Information)
Tax penalties: SA late filing & payment
Guide plus examples: don't overlook the late payment provisions
Avoiding marginal rates of tax
Tax planning tips and examples
Tax-efficient profit extraction checklist (companies)
A new checklist and briefing too for companies and their owners
Relevant earnings for pensions purposes
A useful page to bookmark
Here is a small selection of our guides (there are now over 900 guides and checklists available to paid subscribers)
Come and join usSubscribe (and UNLOCK the whole site)
A single user annual subscription is £295 (+ VAT)
What do you get?
- Open access to the entire Virtual tax database together with bonus material.
- Structured CPD our detailed SME tax updates "for Advisers Only" provide topical summaries and planning notes.
- Regular client tax briefings: these cover the latest business and employment tax issues and are designed to assist you plan meetings and improve your client services.
- A regular Email update when there are new guides and tax issues that we think you MUST read.
- Nichola’s monthly SME tax news summary (we do the reading and cherry pick the best of the press, magazines and websites for you).
- A 20% discount on our Tax Masterclasses.
- You can also commission guides and checklists for your own practice, post comments and upload your own articles.
- The Virtual Tax Partner service provides subscribers with FREE quick calls and a discount of 25% on phone, email and tax support and mentoring.