The Budget is next week so I am keeping this web-update short.

Scroll down for essential reading (FREEVIEW) and then for Subscribers, we have been reviewing the output of the First Tier Tax Tribunals concerning the self employed and travel claims. It makes fascinating reading and I have summarised the key points in our updated guides to Travel and Subsistence.

Best wishes


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

Essential reading

Directors' NICs and payrolls
Check your payroll is calculating correctly.

Advisory fuel rates (company car drivers)
New rates for diesel drivers from 1 March 2012

Tax Credits: urgent action required
HMRC is removing families from tax credits before 2011/12 figures are in. As the backdating rules are changing this could lead to a loss of benefits.

News and views

OTS: share schemes simplification
Review of approved schemes and EMI reveals that the CSOP scheme could be merged with the EMI rules.

For subscribers

Editor's choice:

Travel (self-employed)
UPDATE: we have a complete rewrite and comparing and contrasting recent FTT decisions.

Subsistence (self-employed)
UPDATE: rewrite and update.

Capital allowances case: plant or buildings?
If you missed this last time, look again: have your clients claimed capital allowances on all they should?

Year-end tax planning

Tax planning for the 2011/12 year end
Private clients - (PAID subscribers)

Directors' loan accounts: toolkit
Companies - (FREEVIEW)

Property profits & losses: toolkit
Property - (PAID subscribers)

Associated companies checklist (new rules)
Companies - (PAID subscribers)

AIA: rules where there is a change of rate
If a business has a year end other than 31 March.

All about employees

Employee homeworking allowance rises in 2012/13
Those generous folk at HMRC have increased the rate by is now £4 per week...More

Tax-free benefits in kind and perks
UPDATE: a quick guide.

Overarching contracts, travel & salary sacrifice
Reed v HMRC: a cautionary tale for agencies and umbrella companies. A salary sacrifice will not work if you can opt out again and watch the wording of overarching employment contracts...More

How to check your 2012/13 PAYE Code
New guidance from the Low Income Tax Reform Group.

Bonuses paid via EBT don't avoid PAYE
Case review: a reminder that dressing up employee cash bonuses using offshore company share plans fails to change nature of payment - PAYE is due.

Buying from Germany? New tax requirements
If you have any clients who buy goods from Germany they will need to comply with these new rules.

Technical support

Stuck on a technical query?
Have you tried our Virtual Tax Partner support service? ...More

Subscriber essentials

Do I pay a salary or dividend?
UPDATE: ensure that basic rate bands are maximised.

Dividends: index
Worried about formalities or the consequences of an unlawful dividend, start here.

Transactions in securities (TiS)
UPDATE: capital treatment of a Companies Act 2006 capital reduction may well be counteracted under the TiS rules.

Finance Bill 2012: tax planner
Refresher on 2011/12 and what to expect in 2012/13 - pending announcements made in the Budget on 21 March.

ABC or Alphabet shares: employees
What are the tax and NICs consequences of issuing different classes of shares?

Pensions: carry forward of unused allowances
The mechanics of the carry-forward of deemed allowances from 2008/09.

Collecting Tax Debts through PAYE
From April 2012 debts of up to £2,999 will be added to codes. These will be issued from now on.

When a dividend is subject to NICs (Part 3)
A contrived bonus scheme is taxed as employment earnings (may yet appeal to Supreme Court).

Use of home for business purposes
Tax treat mini guide for your staff.

Plug in car and van grants
NEW: the fleet vehicle of the future?

More Subscribers' Guides

Don't miss:

Capital expenditure allowances - signpost
Quick guide to alternative allowances to plant and machinery capital allowances.

Fixtures: overview
Confused about late claims for Fixtures and changes in 2012? Start here.

Disappearing tax reliefs
UPDATE: tax reliefs and changes that will affect your clients in the next 12 months.

Legal or unlawful dividends: Companies Act 2006
A mini-guide.


Tax planning for directors
Index to guides and updates

Retirement: a purchase of own shares
A menu and summary

VAT: a whole new section
Toolkits, practical guides, current reclaim opportunities and updates

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