Just to remind you of the deadline for filing P11Ds and also the P11D(b) NI declaration next week. Also if you have issued or transferred shares to an employee or director, the employment related securities (ERS) reporting deadline is 6 July.

HMRC have also changed the 64-8 authorisation process for some taxpayers who are seconded to the UK.

We have updated our 'wholly and exclusively' toolkit for subscribers to hopefully make it a bit easier to decide whether an expense is allowable or not, or whether a proportion of it may be allowed or not. How or why this became such a problematic topic is down to the way that we write and make our law. Its difficult enough for advisers and impenetrable for most taxpayers. Whilst HMRC's manuals can be helpful to provide a pointer on this kind of topic, often they do not tell the whole story. You need to know your case law, and hopefully this is where our guides can be really useful and save you hours of research.

The First Tier Tax Tribunal continues to hear cases on the late filing penalties for non-resident CGT returns. I was reading one and the conveyancing solicitor apparently considered that they did not advise on tax and so had not mentioned the requirement to file a CGT return. Some of my clients are currently selling and guess what? Still no mention by the conveyancer. Sounds like the Law Society needs to send out an urgent memo to conveyancing firms: your clients would really appreciate a reminder even if you don't do direct tax.

If you have any tax queries please do try out our Virtual Tax Partner support portal at www.VtaxP.co.uk: subscribers you are entitled to free quick queries so do ask.

Enjoy the guides and updates and the news is below. 

Back soon

Nichola Ross Martin FCA CTA (Fellow) Tax Director


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

Quick news (freeview)

Filing deadlines on 6 July 2018 for:

  • Form P11D
  • Employment related securities (share schemes and share option schemes returns)

Form 64-8
NEW guidance for secondees from overseas

Case Update (freeview)

Unrepresented taxpayer fails on all counts
In John McFarlane v HMRC [2018] TC06512 the First Tier Tribunal (FTT) dismissed appeals by an unrepresented taxpayer; he did not discharge the burden of proof, had acted carelessly and his agent had acted deliberately.

Unmarried couples to get spousal reliefs
In R (on the application of Steinfeld and Keiden) v Secretary of State for International Development [2018] UKSC 32, the Supreme Court held the bar on different-sex couples entering civil partnerships breached Human Rights. This will have a significant impact on tax law.

Tax Guides and Updates (freeview) 

P11D forms
Quick links to the 2017/18 forms if you are not filing online this year.

Editor's Choice (subscribers)  

Wholly and exclusively...toolkit
UPDATE: a tool to help you help your clients work through what is allowable for tax purposes and when to apportion for business or private use.

Giving shares to a director or employee
UPDATE: you cannot simply give away shares to a new director or employee: there may be far ranging tax consequences beyond mere CGT and IHT. You will have Employment Related Securities and onerous reporting obligations and potentially large fines if you fail to comply with these difficult and confusing rules.

ABC shares: setting different share classes for employees and directors
UPDATE: a guide to setting up different share classes in order to restrict share rights

Tax Guides and Updates (subscribers) 

Rectification of trustee mistakes
UPDATE: for a recent Guernsey Court of appeal decision in which the Hastings-Bass principle was clarified.

P11Ds: top tips tool kit
UPDATE: As the P11D deadline is now just a week away we have updated our handy tool kit.

Employment related securities
The annual ERS return is due by 6 July.

UK trusts
UPDATE: Following several recent enquiries we have added further details to our guide covering the implications of the surrender of a life interest.

Non-resident CGT: UK residential property
UPDATE: We have added 3 more recent cases on late filing penalties for non-resident CGT returns. This makes 9 cases heard in less than a year!

VAT (freeview)

Retention of share discounts is a supply
In Redwood Birkhall Limited v HMRC [2018] UKUT 0189, the Upper Tribunal (UT), concluded that the share of a group discount negotiated, and retained in part, by a company on behalf of multiple companies, was a VAT supply of services to those companies.

Set-off is not a payment by taxpayer
In The Rank Group PLC v HMRC [2018] TC06483, the First-Tier Tribunal (FTT) found that where input VAT overclaimed is set-off against output VAT overpaid, that input VAT has not been 'paid' back to HMRC.

Law Society issues guidance on electronic searches
The Law Society has issued interim guidance to its members on property search fees and when these should be disbursements. This follows the decision in Brabners, which suggested the fees could never qualify as disbursements.

VAT (subscribers)

UPDATE: more case law added.

CPD Webinars

New CPD click here

How to run the most tax efficient accounting practice...ever Part 3
Slides from a talk by Nichola Ross Martin from Accountex 2018

Missed last time's update?

Nichola's SME Tax w-update 22 June 2018


  • Agent Update
  • Crowdfunding & Tax
  • IR35 & employment status
  • Company Tax: what's new?
  • VAT & Education
  • and much more..

Come and join our Cloud

Subscribe (and UNLOCK the whole site) A single user annual subscription is £365 (+ VAT). 

What do you get?

  • We keep YOU up to date in SME tax.
  • FULL access to www.rossmartin.co.uk: your firm's personal TAX INTRANET containing over 2,500 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 & our NEW webcasts provide you with structured CPD at your desk.
  • 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.