It is midsummer and it is sunny. 'I know a bank where the wild thyme blows...' and I am looking forward to a bit of gardening later. In the meantime let's talk some tax.

We have some looming reporting deadlines.Time to report employer provided benefits and expenses (form P11D and P11D(b)) and my least favourite return: Employment Related Securities.

We have also been over the highlights of HMRC's new Employer bulletin and we are worried about the Stamp Office. More signs of HMRC being overworked and possibly under resourced.

We continue building our new Virtual Tax Partner © Toolkit. This time we have added our 'Salary or Dividend, or a bit both, calculator'. A special thanks to Sammy who worked on the start of our Tax Artificial Machine Intelligence 'TAMI' research project.

Also this time, we can now offer you our TaxKeepApp. This is now tried and tested and is proven to assist the digitally inexperienced with their bookkeeping. We estimate that 99% of your clients will benefit from this. If they can turn on a phone and add a phone number to a contact, they will be able to use this. The phone then sends their data to the lucky accountant who then does all the really useful stuff that accountants do.

On signing up for Making Tax Digital for VAT, thank you for your feedback and do please keep commenting on my 'blog'. I am still waiting to see what the Agent Services Account 'ASA' will do. It's not showing any clients yet. I have found that when going to my new VAT area as a business I cannot change my email address. Annoying.

I am heading to the tribunal for a really unusual PAYE/VAT case next week; once that is done I am going to crack the MTD for VAT issues.

If you have tax queries contact the Virtual Tax Partner support portal at www.VtaxP.co.uk.

Enjoy the guides and updates and the news is below. Subscribe now!

Back soon 

Nichola Ross Martin FCA CTA (Fellow) Tax Director


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

Quick news (freeview)

Employer bulletin: June 2019
HMRC have published their Employer Bulletin for June 2019. We summarise the key content for you, with links to our detailed guidance on the topics covered.

Have changes to SDLT deadlines flooded the Stamp Office?
Recent experiences with the HMRC Stamp Office suggest that they are struggling to keep up with the current volume of transactions following recent changes to the SDLT filing and payment window.

Employees and paying the loan charge
HMRC have released additional guidance explaining how taxpayers using employment related disguised remuneration schemes can pay their loan charge direct.

Structures and Buildings allowance: consultation responses
At Budget 2018 a new Structures and Buildings Allowance was announced and a consultation opened about it. Draft legislation was issued for consultation in March 2019. Responses to the consultations have now been published.

MTD: VAT blog
The story so far: the latest instalment on trying to sign up for Making Tax Digital for VAT.

Editor's Choice (subscribers)

Directors: can my company build my house?
UPDATE: FAQs: what are the tax consequences if you company builds you your house?

Management Buyout: what are your options?
What are the simplest options for an MBO? Week eight in our tour through out new Reorganisation Zone. A series of super practical tax guides provide an outline of the tax treatment together with step guides and tax clearance templates.

Virtual Tax Partner Toolkit (freeview)

Virtual Tax Partner © Tax Toolkit© Tax Toolkit
NEW: be a winner with our game-changing tax diagnostics tools:

  • Entrepreneurs' Relief: Sole traders: sale of a business, incorporation, sale of assets
  • Entrepreneurs' Relief: Company owners: rules for sales pre 29 October 2018, sales between 29 October 2018 and 5 April 2019 and after.
  • TAAR: closing your Personal service company? Will your final dividends be taxed as income?
  • Salary or dividend, or a mixture of both. Better to claim the Employers' Allowance?
  • Making Tax Digital for VAT: when do you need to join.

TaxKeep Apps
NEW: these Apps are currently free for subscribers. For a small fee they can be customised with your logo and then distributed to your clients. Complete the form to sign up for your own App.

Tax Guides & Updates (subscribers)

P11Ds: top tips tool kit
Top Tips for employers on preparing form P11D together with a checklist. This guide combines HMRC tips, tool kits and various other resources.

Employment related securities: reporting issues
UPDATE: Our guide to common reporting issues and problems with employment related securities returns.

Case Update (freeview)

No excuse for late filing of ERS returns
In Talkative Limited v HMRC [2019] TC07172 the FTT dismissed an appeal against late filing penalties for an employment related securities return; ignorance of the law and reliance on an adviser were not reasonable excuses

The price of an appeal: Unrepresented taxpayer must pay HMRC’s costs
In Paul Wheeler v HMRC [2019] TC07164 the FTT awarded costs against an unrepresented taxpayer for unreasonable behaviour; to be enforced in the future when he has sufficient funds.

VAT (subscribers)

Land & Property: Relevant residential & relevant charitable purpose
UPDATE: For changes to the VAT rate on energy saving materials from October 2019. Get your solar panels now!

International goods
UPDATE: If Brexit does go ahead it may be sensible to brush up on the VAT rules for import and export.

CPD for lunch 

Byte sized chunks of CPD for subscribers

Understanding PAYE tax codes
NEW: what, why and how

Structures and Buildings Allowance (SBA)
NEW: Will the SBA prove to be a useful allowance?

Extracting Profits from an Owner-Managed Business
NEW: How can an owner extract profits from a company?

Reasonable Excuse
NEW: What is reasonable when it comes to filing failures?

Missed last time's Web-update?

Nichola's SME tax W-update 14 June 2019


  • Agent Update
  • Refunds for HICBC penalties
  • Reorganisations case study 7: making a group for a MBO
  • Blog: Trying to sign up to Making Tax Digital for VAT
  • Virtual Tax Partner © Toolkit 
  • Tax scheme and company residence
  • VAT and welfare
  • VAT partial exemption attribution, mixed supply and building
  • and much more..

Catch up with last month in tax 

May 2019: the month in summary
NEW: a summary of the newswires for the last month

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