The highlights in this edition are our Autumn SME update, a review of the first published Tribunal decision on PAYE penalties, and a new Penalty Buster's guide which should interest clients.
Still thinking about Tribunals, we have a couple of Close Investment Holding Company cases to compare and an Entrepreneurs' Relief case: that makes a change.
The draft clauses for the 2011 Finance Bill are out more on that next time.
Nichola Ross Martin FCA
Your online Virtual Tax Partner: practical support for accountants, tax advisers and their clients
Autumn Tax Update
Click here for our rolling summary of interesting tax tips and news
News and FREEVIEW
PAYE late payment: HMRC 1 taxpayer 0
The first published Tribunal decision leaves many facets of the new Sch 55 Penalty regime unanswered
Gift Aid: CIOT lauches new resources
New guides to help advisers assist their local charities and sports clubs
New teams to check direct tax avoidance schemes
HMRC is starting new compliance checks on SME scheme users
Chancellor's Autumn Statement: highlights
The important measures will appear later today though when the draft legisation is published
New General Anti-Avoidance Rule (GAAR)
Proposals published by QC set to cull anti-avoidance legislation
Tax Apprenticeship program takes off
ATT combines with PWC to create a new professional route into tax
Guides and updatesPAYE late payment penalties buster
NEW: top tops for employers
Close Investment Holding Companies
UPDATE: two recent reports from the Tribunals indicate how easy it is to overlook these rules
Employment status checklist
UPDATE: three new cases add new dimension to the existing tests
Capital Gains Tax: Entrepreneurs' Relief
UPDATE: comparing the disposal of part of a business and its assets
Furnished Holiday Letting
UPDATE: a major rewrite to include 2011 FA provisions including examples on Averaging and Period of Grace reliefs.
Fees and subscriptions (professional bodies)
UPDATED: no tax deduction against employment income if not on HMRC's list.
NEW: these continue to attract unlimited exemption from tax and NICs
PAYE: late payment penalties
UPDATE: further guidance for mitigation by clients, with examples
Bona Vacantia & striking off
Our summary of the key issues for advisers to watch out for and advise clients
Retirement: a purchase of own shares
A menu and summary
VAT: a whole new section
Toolkits, practical guides, current reclaim opportunities and updates
Joint property: legal v beneficial ownership
This guide explains the differences, looks at transfer of beneficial ownership, issues for spouses and Declarations of Trust
Capital reduction with a purchase of own shares
UPDATE: this is a very complicated combination, so we have created this checklist
Capital reduction: tax treatment
UPDATE: this guide examines the position where a capital reduction is used and trading is ongoing.
Broadband (Employer's guide)
NEW: our at a glance guide summarises the different combinations and their tax treatment.
Can I back-claim capital allowances on residential property?
UPDATE: a rewrite of this guide with improved links.
Running an LLP in tandem with a company
UPDATE: in tandem or corporate partners? Lots of plusses and minuses for professional practices.
Employment status: directors
UPDATE: the difference in treatment of office holders under tax and employment law.
Employment status: partners
NEW: this guide considers a problem for some professional firms.
Business Property Relief: holding companies
UPDATE: following recent queries we have included further examples to deal with mixed trading groups.
Interest: paid on loans from directors
NEW: mini-guide. Is interest paid gross or net? At what rate? Tax relief when irrecoverable.
Valuation (of goodwill) on incorporation
UPDATE: new examples for small & lifestyle businesses.
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