The Budget was as expected, a bit dull.

Note that the Close Companies: Transactions in Securities proposals have been brought forward to 24 March.

Struggling to keep up to date in tax? Try our 2010/11 and 2011/12 Tax Planner.

Many new guides and checklists have been added to the site this week too.

Kind regards


Nichola Ross Martin FCA
Tax Director
Your online Virtual Tax Partner: practical support for accountants, tax advisers and their clients

Free view content

Budget 2010 highlights
High on politics but also stuffed full of anti-avoidance measures.

Close Companies: Transactions in Securities
Budget 2010: the Transactions in Securities (TiS) rules are being expanded with the aim of targeting Close Companies (including overseas companies).

Tax planner for 2010/11 and 2011/12
Can't keep up with all the changes? Add this handy planning guide to your Favourites.

Time limits for assessment and claims
From 1 April 2010 the time limits for assessments and claims change. This may have a major affect on tax repayment claims.

Tax Data
Tax rates and allowances

Updates, new tax guides and checklists

For PAID subscribers only (because you're worth it :)

We have updated the incorporation guides and checklists and added a new guide to cessation.

Cessation (followed by incorporation)
How to draw up accounts and make the right elections and tax computations to close down an existing business.

Incorporation checklist
How to evaluate exactly what you want to transfer into the new company.

Incorporating an existing business
How to incorporate, examples, comparisons of relevant CGT, tax reliefs, SDLT and elections.

Estate planning checklist
Need a refresher? This checklist covers spouses, gifts and exemptions.

Inheritance Tax Rates and Allowances
A new addition to the Tax Data section.

Surplus cash CGT & IHT relief and ESC C16
Company has large cash surplus: how does this affect Entrepreneurs' Relief, Business Property Relief, and what if you try and dissolve the company? Updated: for Budget...More

How to value a business
A guide for clients. It explains how to start measuring up, and provides an overview of the most practical methods for valuing a small private company. Updated: more examples and notes on EBITDA...More

CGT: Entrepreneurs' Relief
Updated for Budget: guide with 2010/11 examples, links to guide on incorporation and ESC C16...More

Tax planning for the 2009/10 year end
Close savings accounts now? Last minute tips and know how.

New and updated Practical Tax Toolkits

What expenses can I claim?
Summaries for the self-employed

Employee expenses
Summaries for employees

Tax-efficient extraction of profits
An interactive checklist

Company year-end planning
An inclusive checklist for the company and its owners ahead of the year-end.

Tax penalties: grounds for appeal
A handy little resource for you to bookmark.

Unlawful, illegal and ultra vires dividends
A worked CASE STUDY illustrates the different treatment for different types of connected persons.

Recent FREE view guides & updates

Wrongful Dismissals
This claim can be made in a wide range of circumstances.

How to avoid paying tax at 50%
Updated links and guidance.

KEY reading this quarter (subscribers only)

Employers' Quarterly Tax Briefing
Top tips, tools, links and planning ideas for 2010/11 and beyond...More

Quarterly Tax Refresher (for advisers only)
This essential tax tool is an excellent source of online CPD. Download this onto your mobile, train staff, and of course brief your clients...More

Job vacancies

Jobs in tax: Tax Consultants, Writers & Editors
We are recruiting tax consultants and writers to come and work with us in our world of Virtual Tax...More

More FREE news, guides, notes and checklists

You have to pay to subscribe to unlock the full content in Here is some of our free material:

Recommendations: what do our subscribers say about us?

Free guides
You have two options:
1. Explore the site (then click on the menus and you will soon see what is free)
2. See a small sample.

Missed an edition? See Nichola's SME Tax News Archive.

Subscribe to the Practical Tax Database to UNLOCK your internet Virtual Tax partner:

Our special introductory rate ENDS on 31 March. We are offering a single user subscription from £255 + VAT per year (that is a mere £21.25 (+ VAT) per month).

What do you get?

  • Open access to the entire Practical Tax Database which contains over 300 tax and legal guides packed full of essential know-how for advisers.
  • Our regular Email update when there are new guides and tax issues that we think you MUST read.
  • Nichola’s monthly SME tax news summary (we do the reading and cherry pick the best of the press, magazines and websites for you).
  • NEW our Quarterly Tax Refresher (for advisers ONLY) + our Quarterly Employer Briefing.
  • A 25% discount to our NEW tax webinar-update service).
  • You can also commission guides and checklists for your own practice, post comments and upload your own articles.
  • You can access the Virtual Tax Partner service for FREE quick calls, or just a chat.