Missed our SME Tax Web-updates in June? Here is a summary of the month.

Nichola's SME Tax W-update 29 June 2023

Freeview

  • It's P11D time: are you reporting all your Car Benefits?
  • 99% increase in additional rate Income Tax payers
  • Interest rates: HMRC's further rises
  • Behind on complaints handling 
  • UK domicile of choice acquired, no evidence of a move to India
  • No automatic adjustment for loss carryback
  • Unexplained property transactions result in Schedule 36 Information Notice
  • Tax Rules for A-Z of different trades, professions and vocations

Subscriber CPD/specials

  • Employment-Related Securities: Reporting UPDATE
  • Associated companies & test for control UPDATE
  • Annual accounting UPDATE
  • P11Ds: Employers' checklist & top tips
  • Directors' loan accounts: Toolkit (subscribers)
  • Making a tax disclosure (Digital Disclosure Service)
  • Salaried members: When is a partner taxed as an employee? 
  • CPD: Maximising Expense Deductions for Businesses

Read More...


Nichola's SME Tax W-update 22 June 2023

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  • Agent Update: June 2023
  • Complex tax system obstacle to economic dynamism 
  • Key HMRC services are out of action over Glastonbury weekend
  • COVID-19: Tax Appeals
  • Reasonable excuse claim fails due to unreasonable payment delays
  • Software issue invalidated CJRS claim
  • Ceased trading: No SEISS
  • Plastic Packaging Tax: At a glance
  • Free Covid PPE in part a 'business activity' for Input VAT

Subscriber CPD/specials

  • Cash or accruals accounting toolkit
  • Close company loans toolkit (loans to participators)
  • Family Investment Companies
  • SDLT: Residential property & dwellings UPDATE
  • Trust Registration Service UPDATE
  • Partnerships: What's new 2022-2023?
  • Starting in business: VAT UPDATE
  • Annual accounting UPDATE
  • Assessments: Best judgement & time limits UPDATE

  Read More...


Nichola's SME Tax W-update 15 June 2023

Freeview

  • Oops! MTD costs 400% more than HMRC estimated
  • Survey shows limited impacts of the Off-Payroll Working rules
  • HMRC drops SA helpline bombshell
  • HMRC acts on Pandora Papers leak
  • Scottish Deposit Return Scheme
  • NI devolution of tax powers condoc responses
  • Pension: Check National Insurance records by 5 April 2025
  • Accountant's CJRS claim documents edited
  • VAT direct debit does not change VAT due date  
  • R&C Brief 6 (2023): VAT liability of digital publications

Subscriber CPD/special

  • Employer’s What’s On: 2023/24
  • Sole Trader v Limited Company 2023-24
  • Employer Bulletin: June 2023
  • Purchase (repurchase) of Own Shares UPDATE
  • Furnished Holiday Letting UPDATE
  • Welsh Land Transaction Tax (LTT) UPDATE
  • LBTT: Land and Buildings Transaction Tax UPDATE
  • Full expensing & First Year Allowances UPDATE

  Read More...


Nichola's SME Tax W-update 8 June 2023

Freeview

  • Agent Update: May 2023
  • Spotlight 62: Dividend diversion scheme used to fund education fees
  • HM Treasury review of SAYE and SIP schemes  
  • Named tax avoidance schemes, promoters, enablers
  • Restructuring did not change commercial reality of loans
  • Lack of knowledge not reasonable excuse for late ATED
  • Wider business purpose prevents £34 million P&L deduction
  • Pony paddock not residential for SDLT
  • Reoganisations Index: Start here

Subscriber CPD/specials

  • Capital Allowances: What's new 2023-24
  • Agency Workers
  • Reasonable care: How do you pick a tax agent?
  • Employee Ownership Trusts: An exit route for owner-managers UPDATE
  • Structures & Buildings Allowance (SBA) UPDATE
  • Estates: Income Tax and Capital Gains Tax UPDATE
  • Scottish Income Tax: Am I a Scottish taxpayer? UPDATE
  • Energy-Saving Materials
  • UPDATE: CPD: Non-Resident CGT: UK Property

 Read More...


Nichola's SME Tax W-update 1 June 2023

Freeview

  • Agent Update: May 2023
  • Gift Aid one-to-many letter
  • Europe introduces tourist tax
  • Private equity leaders earn £2.7bn in carried interest
  • Social media posts invalidated CJRS claims 
  • Lack of loan relationship accounting entries means no tax relief
  • No reversal of ‘evil’ artificial tax avoidance scheme

Subscriber CPD/specials

  • Is it a trade, a business, or an investment activity?
  • Full expensing & First Year Allowances NEW
  • What expenditure qualifies for plant & machinery allowances? UPDATE
  • Trust Registration Service UPDATE
  • Non-domicile status, deemed domicile & tax
  • UPDATE: CPD: Non-Resident CGT: UK Property

 Read More...


Missed last time's monthly web update? Get it here...

SME Monthly Summary May 2023


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