As its Hallowe'en we have a feast of unpleasant tax tricks and a treat or two...

Gothic horrors: as you may have noticed, the 2016 Finance Act has created a whole new batch of tax penalties. We are in the progress of updating our guides in this area and this week we have a gruesome guide detailing the different penalties and sanctions that can be applied to tax advisers.

Things that go bump in the night: we are also looking at sanctions for Promoters of Tax Avoidance schemes, the proposals for Enablers of Tax Avoidance schemes and we have a real life horror story in which an accountant was fined for failing to take his obligations under the Money Laundering Reporting seriously

As our special treats we have new toolkits for the Statutory Residence Test and Split Year Treatment and one for Incorporation together with new CPD 'for lunch', this time on CGT and IHT. 

Enjoy the guides and updates. Don't forget to respond the Making Tax Digital consultations, as there is only one week left to respond.

Hope you like our special Hallowe'en banner, I am looking forward to fireworks at the end of the week!

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 (freeview)

Hallowe'en & Bonfire Night Tax Deadlines
A reminder of upcoming filing deadlines

Making Tax Digital index
You have one week left to respond to the different consultations: we have summaries here with all the questions to make responding easier for you.

Case Update (freeview)

Accountant fined for anti-money laundering failures
In N Bevan Limited v HMRC [2016] TC 05404 the First Tier Tribunal (FTT) upheld a HMRC penalty imposed on a small accountancy firm for not keeping up with their anti-money laundering obligations. 

Practical Tax Guides and Updates (subscribers)

Incorporation of an existing business

Capital allowances: on incorporation
NEW: A guide to the impact and options for capital allowances when transferring assets to a company on incorporation.

Incorporation checklist
This toolkit accompanies our very practical tax guide to Incorporating an Existing Business.


SRT Toolkit
NEW: our interactive toolkit to determine residence status.

SRT: Split Year Toolkit
NEW: our Split Year Treatment flowchart.

SRT Day Counting Toolkit
Our guide to day counting and links to our day counting calendars.

Editor's Choice

Penalties: Accountants, Advisers & Agents
NEW: A summary of penalties which can apply to accountants, advisers and agents, with links to detailed guidance for each.

Promoters of Tax Avoidance Schemes (POTAS)
NEW: Who is a Promoter? What are the Promoters of Tax Avoidance Scheme rules?  What does this mean for promoters, intermediaries and clients?

Penalties: Corporation Tax
A handy summary of the different penalties which can apply.

Money Laundering Regulations: Accountants' Registration (freeview)
NEW: Do I need to register my business with a Supervisory Body or with HMRC?

CPD Webinars

Land and Property Update: Capital Gains Tax
NEW: A summary of the recent CGT developments for land & property

Land and Property Update: Inheritance Tax
NEW: A summary of the recent IHT developments for land & property

Missed last time's update?

Nichola's SME Tax Update 20 October


  • VAT special: new guides on registering for VAT, the Capital Goods Scheme, opting to tax, partial exemption and more.
  • Small and micro-entity accounts filing requirements.
  • Act by 31 October to get disguised remuneration transitional relief.
  • HMRC's latest Agent and Employer updates.
  • CIOT and ATT Making Tax Digital survey results

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