It has been some time since our last update; the new Finance Act has become law. In keeping with past general election years we will be expecting another Finance Act soon after May's general election so all in all a difficult year for advisers.
This time we have some of our regular updates for Employers, our Capital Taxes and Land and Property update together with our Finance Act (and other legislation) rolling tax planning, so that you can see all the latest developments in tax especially capital taxes.
Next time we have our Directors Tax Update together with our new webcasts to top up your structured CPD.
Nichola Ross Martin FCA Tax Director
Your online Virtual Tax Partner®: practical support for accountants, tax advisers and their clients.
How to pay HMRC?
Is it really that difficult? Here is a useful page to bookmark.
- HMRC refused to repay an overpayment of tax following late filing of a tax return, claiming that the four year limit prevented repayment. The Upper Tier Tribunal decided that no time limit applied in those circumstances.
- We consider whether this case will affect your clients, looking at the different time limits for assessment, overpayment relief and self assessment.
EIS and a reverse takeover
In a very long running saga Gregory Finn, Averil Finn, Andrew Cornish and Robin Morris v HMRC a group of Enterprise Investment scheme (EIS) investors had yet another visit to the tribunal which again confirmed that they lost their relief when their company was acquired by another company in a reverse takeover.
Essential reading I (freeview)
Essential reading II (subscription content)
Nichola's Capital Taxes (warning also contains Land and property) Update
Following the latest Finance Act we provide a handy update to all the new rules that may affect your clients, complete with examples...more
Pensions: what's new?
Our tracker summarises the various changes made over the last couple of years as well as the new announcements.
Finance Bill 2015: tax update and rolling planner
Visit this regularly in order to avoid feeling overwhelmed by the huge volume of new tax rules and regulations: our rolling tax update and planner sets out all the key measures, dates and deadlines for you.
Incorporating a business
If CGT Entrepreneurs' Relief is no longer available on transfers of goodwill on incorporations made on or after 3 December 2014, what are the alternative options? This practical tax guide takes you, asset by asset, through the steps of incorporation with worked examples to illustrate the interactions of different CGT and income tax relief.
Employers' NICs allowance
UPDATE: new 2015/16 rates and salary tables to show what salary to pay to maximise your allowances.
What expenses can I claim?
Come and visit this section: ideal for staff training. Expense by expense with top tips, examples and case law updates.
CGT: the different ways of taxing property in the UK
There some surprisingly different ways of taxing gains made on the disposal of UK residential property. A handy summary.
Come and join our Cloud
Subscribe (and UNLOCK the whole site) A single user annual subscription is £325 (+ VAT)
What do you get?
- We aim to keep YOU up to date in SME tax.
- FULL access to www.rossmartin.co.uk: this acts as your firm's personal TAX INTRANET containing over 1,200 actively maintained tax guides, briefings, toolkits and checklists.
- Want to know more? Commission your own articles and checklists.
- 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.
- Nichola’s regular SME tax news web-update: we do the reading and cherry pick the best of the taxpress, magazines and websites for you.
- You can also commission guides and checklists for your own practice, post comments and upload your own articles.
- Access to the Virtual Tax Partner ® service provides subscribers with access to one to one support with a discount of up to 25% on phone, email and tax support and mentoring.