We are back this time with a range of updates on Employment Status following the Autoclenz v Belcher & Others [2011] UKSC 41 judgment. You will be wanting to talk to clients about reviewing agreements with self-employed contractors.

We have a mini-guide on freeview for Furnished Holiday letting and a major rewrite of our highly popular practice note on this topic. This covers the Finance Act 2011 changes, as well as recent developments in VAT and notes on IHT treatment. Furnished Holiday letting is particularly valuable: it enables you to store domestic properties in your pension pot.

Finally, the Treasury has announced that the Chancellor will be presenting his Autumn Statement in November.

We also have lots of interesting news items this time (on FREEVIEW) and subscribers, please scroll down to see an update summary.

Best wishes


Nichola Ross Martin FCA
Tax Director

Your online Virtual Tax Partner: practical support for accountants, tax advisers and their clients


Furnished Holiday Lettings: new rules
Summary of Finance Act provisions

Are your ready for the new CIS penalties?
Less than one month to go...

Disclosure of Tax Avoidance Schemes (DOTAS)
In August HMRC updated its guidance for the April 2011 changes.

Employment status: contracts must reflect reality
A summary of Autoclenz employment status case with tax analysis

Delaware LLCs: company or partnership?
A private equity boss tests HMRC's interpretation of LLCs. Tribunal evolves new test for proprietory rights.

Guides and updates

For PAID subscribers (because you are so special :)

Recent new guides and updates

Employment status checklist
UPDATE: following the Autoclenz decision clients may wish to review their working relationships with self-employed subcontractors.

Employment status: directors
UPDATE: the difference in treatment of office holders under tax and employment law.

Employment status: partners
NEW: this guide considers considers some of the key the issues facing professional firms.

Furnished Holiday Letting
UPDATE: and major rewrite to include 2011 FA provisions including examples on Averaging and Period of grace reliefs.

Business Property Relief: holding companies
UPDATE: following recent queries we have included further examples to deal with mixed trading groups.

Repairs and renewals
UPDATE: resurfacing a farm track, revenue or capital?

Joint property: legal v beneficial ownership
NEW: what is the difference and why is it important for tax? We summarise HMRC's latest guidance.

Joint property elections
UPDATE: new links, following new guidance from HMRC.

Goodwill: trade related properties
UPDATE: new tabs, clearer guidance on valuation with new links

Salary sacrifice schemes and VAT
UPDATE: from 1 January 2012 employers must account for Output VAT on salary sacrificed in return for taxable benefits.

Pensions: tax rules and planning
UPDATE: HMRC has recently amended its pensions guidance for 2011/12 this guide explains the complicated changes in recent years.

Pensions planning for directors
UPDATE: this looks at contributions in specie and various other planning aspects.

The remittance basis (overseas income)
UPDATE: the US now confirms that the Remittance basis charge is an income tax for which foreign credit is allowable against US tax.


Recent additions and updates:

Interest: paid on loans from directors
NEW: mini-guide. Is interest paid gross or net? At what rate? Tax relief when irrecoverable.

Capital Gains Tax: Entrepreneurs' Relief
UPDATE: new sections including planning points and pitfalls for private company shares

Valuation (of goodwill) on incorporation
UPDATE: new examples for small & lifestyle businesses.

Our favourite summer topics:

Capital allowances
2011/12 updated: take a tour of the section.

ABC shares: family companies
A guide that examines the tax consequences of creating new share classes.

UPDATE: a section of the site with guides on valuation of goodwill, tax avoidance issues, and worked examples.

Accounts health check (self-employed)
UPDATED: a general re-write with more interactive links.

Directors: tax-efficient remuneration
These guides consider the different methods available for extracting funds from a company.



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