This week we have a new client briefing on the changes to dividend tax, with worked examples for director-shareholders, an updated guide to the Social Investment Tax Relief, and a new guide to the IHT exemption for normal expenditure out of income.

As expected ahead of the Autumn Statement next week, the Summer Budget Finance Bill received Royal Assent on 18th November and is now the Finance (No 2) Act 2015.

HMRC have come under fire again from a First Tier Tribunal judge for continuing to hold inappropriate views as to the meaning of reasonable excuse. Our editor's choice this week is a guide to all the grounds for appealing penalties where they may have been incorrectly issued.

We have also created an at a glance guide to VAT on common transactions involving land and property.

Back soon

Nichola Ross Martin FCA Tax Director


Your Virtual Tax Partner®: online PRACTICAL support for accountants & tax advisers BY accountants & tax advisers

Quick News

Help to Buy ISA 
A quick reference guide to the new account which launches on 1st December aimed at helping first time buyers to save up for their deposit.

Tax Credit Changes
A summary of the controversial proposed changes to working tax credits and child tax credits which were announced in the Summer Budget.

HMRC's interpretation of reasonable excuse inappropriate
In Nigel Barratt v HMRC the First Tier Tribunal (FTT) once again found that HMRC's interpretation of reasonable excuse was 'inappropriate'.

FREEview Guides 

The Common Reporting Standard 
The UK is committed to implementing this global standard for the automatic exchange of information.  This guide summarises the potential impact for UK residents and their advisers. 

Beneficial Ownership Transparency 
The government has set out the steps it will take to make it easier for authorities to identify the beneficial owners of corporate entities and combat their misuse; these steps include changes to Company Law and Money Laundering regulations, and the creation of a publicly accessible central register.

For subscribers only

ALL NEW: CPD for Lunch

Click here for our new range of 30 minute webcasts available on:

  • Capital taxes update Part 1: Entrepreneurs' Relief  & topical cases
  • Capital taxes update Part 2: CGT and UK Residential Property
  • IHT update: New Residence Nil Rate Band & Trusts

NEW Practical Tax Guides & Updates

Social Investment Tax Relief (SITR) 
UPDATE: SITR is an income tax and capital gains tax investment scheme relief similar to the Enterprise Investment and Seed Enterprise Investment schemes. Our extended guide details the reliefs available and qualifying conditions.

Dividend Tax: client briefing
NEW: a briefing note to go over with your clients to explain and illustrate the new rules for the taxation of dividends from 2016/17.

IHT: exemption for normal gifts out of income 
NEW: a review of the qualifying conditions for this exemption.


Editor's Choice 

How to appeal a penalty
Our comprehensive review of all grounds for appeal, with links to relevant cases and further guidance.

VAT: Land and property at a glance 
NEW: Bookmark this guide as a useful first reference when dealing with land and property transactions.


Missed last time's update?

Nichola's SME Tax Update 12 November 2015

Features updates on:

  • Pensions
  • Pension planning for directors
  • Buy to let: restricting relief for finance charges
  • Home Loan schemes
  • Carried interest

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