SME Tax News

Oh, the devil IS in the detail: an interesting little case which shows just how important it is to read the small print.

Most "top-tips" avoid one essential piece of advice.

This winter, compliance is going to be the new black in the world of tax! Lots of firms are giving out advice in their newsletters, but is it a case of "can't see the wood for the trees?

The lawyers are plotting to avoid paying supertax in 2010/11...

With the onset of super tax in 2010/11, it has been reported that some of the big law firms are considering changing their year ends from 30 April 2010 back to March 2010. Whilst this measure may lead to some devilishly complex tax computations for partners (Health warning: do not try this at home without software), there is no guarantee that one rule will work for all.

IR35 for subbies? A new Treasury consultation will have far reaching effects for many builders and their workers…

A consultation paper was published on 20 July 2009 to consider the issue of "false self-employment" in the construction industry.

False self-employment occurs when the underlying relationship between engager and worker indicates employment, but the engagement is presented as self-employment. The result is that:

The 2009 Finance Bill received Royal Assent on 21 July 2009 and so it now called the Finance Act 2009.

When a dividend is also subject to NICs…

2010 UPDATE: This case subsequently went to appeal - see When a dividend is subject to NICs (Part 2)

This case is going to excite tax advisers because it is often argued that a dividend can only be taxed once – as a dividend, but no one has been particularly clear about the NICs aspect, until now. The decision has important ramifications for small companies who use dividends as part of the remuneration package, as well as for those designing share based incentive schemes.