This week we feature a NEW end of year tax planning checklist. We also have a collection of VAT and sports club cases which should interest those advisers who are dealing with football and golf clubs.
There is another new tribunal decision on travel follows hot on the heels of Dr Samadian and we summarise where we are now with the "wholly and exclusively incurred rule", as well as summarising all the recent changes to self-employed travel in our guide on that topic. These are my picks of essential reading this time.
Follow the links below for summaries and briefings.
Best wishes
Nichola Ross Martin FCA
Tax Director
Your online Virtual Tax Partner: practical support for accountants, tax advisers and their clients
News (Freeview)
New advisory fuel rates for company car drivers
Apply from 1 March 2014.
In Dr Kathleen Long v HMRC (TC 03339), it was held that a doctor's diary was not disclosable under a statutory information notice from HMRC.
No tax relief for travel to airflields
Hot on the heels of the Dr Samadian decision the tribunal follows similar steps to disallow travel between home and an flying instructor's airfields.
A little bit of VAT & sports
In West Dorset Golf Club Ltd (C-495/12) the European Court of Justice (ECJ) held that all golf 'green fees’ paid to members golf clubs are exempt from VAT. The ECJ also held that the exemption can be backdated for at least four years, which is likely to lead to a substantial VAT rebate being paid to member’s golf clubs by HMRC. HMRC has yet to update its guidance.
Following Goals Soccer Centres plc v HMRC (TC 02253), the charge made by suppliers of indoor and outdoor pitches for league and cup competitions (including managing and administering these) now constitutes two separate charges for VAT purposes.
In HMRC v Esporta [2013] UKUT 0173, it was held that late paid gym fees are subject to VAT even when the member was barred from using the facilities.
Updates and new guides for Subscribers
Editor's choice
NEW a handy aide memoire for "Private Clients", Directors, Employees and Self-employed individuals.
UPDATE: which journeys can be safely treated as being "wholly and exclusively incurred for the purpose of the trade" these days? Top tips, traps and a review of all the leading case law.
Essential reading
EIS: qualifying trades
At a glance: what trades qualify for EIS relief and under also the EMI share option scheme? Keep monitoring schemes to ensure that qualifying activities are still being undertaken.
Top Tips for directors
Converting part of a home into an office
How to create a tax-efficient home office.
Directors' tax planning toolkit 2013/14
Our rolling planner which is updated throughout the year
Employee Shareholder Status - tax & planning
NEW: the new measures introducing a new category of employee share owner are interesting for all sizes of companies. Our guide explains all.
Do I pay a salary or dividend? 2013/14
Check your figures for the current tax year: this is designed to save you having to do all these workings yourself. Don't worry, the 2014/15 guide is coming next week!
Disincorporation relief
New: a summary of the proposed rules. You may also sign up for our new Masterclass.
ABC or alphabet shares: directors & employees
UPDATE: essential reading for directors.
Essential basics
Purchase (repurchase) of own shares
Step by step guide to ensure Companies Act and tax compliance is met to allow a repayment to be treated as capital in the hands of the outgoing shareholder.
Working from home (directors)
UPDATE: the same rules apply to home working directors as other employees. However, a directors is more likely to be able to charge rent and there may be some additional issues and complications by virtue of their office.
Converting part of a home into an office
How to create a tax-efficient home office.
Can I charge my company rent for use of my home?
- Recharging the company, on the same basis as a conventional home working employee for a proportion of your bills and running costs. This is explained in Working from home (directors) or
- Formalising a licence agreement with your company in order to allow it to occupy part of your property. It then pays you rent and service charges and you then claim all your expenses under self-assessment...More
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