The team at www.rossmartin.co.uk are no strangers to positive feedback from subscribers using the subscriber-exclusive content, but what are the benefits of subscribing from the perspective of one of the editors of the website?
An essential resource
www.rossmartin.co.uk describes itself as “practical tax resources for accountants and advisers” and while it is just that, I would also say it's an essential resource.
Finding news and developments
The Rossmartin team trawl dozens (literally!) of information sources daily. These range from HMRC’s most recent publications to the latest court and tribunal decisions. This ensures we are able to provide readers with up-to-date guides and the hottest news.
This takes an extraordinary amount of time, but for the users of our website, it means they don’t have to do it themselves.
It also allows us to provide subscribers with a prompt analysis of important points, which they can take to their clients or apply in their daily work.
Highlighting the important stuff
In the last few months, one example which sticks in mind was the wider impacts of HMRC’s late filing and late payment penalty waiver for 2020-21 tax returns: there were a number of downsides which we quickly brought to the attention of readers.
Another was the Broader consequences of the 1.25% rise in National Insurance Contributions (NICs) and dividend tax from 6 April 2022, these weren’t immediately obvious when the changes were first announced.
One particular favourite was our analysis of HMRC’s manual changes in relation to Business Asset Disposal Relief (BADR) following the Assam Allam case. At first glance, the changes HMRC made may have seemed insignificant, but when taken with the comments made by the Upper Tribunal we were able to give a Fascinating insight into how future BADR cases may play out.
2022 has been a year which has seen four different Chancellors of the Exchequer. As a result, there have been a number of tax changes and announcements. Each time, we've delivered a digestible summary of the need-to-know points. One example was our Autumn Statement 2023: At a glance guide, which was published the same day as the announcements were made.
More than news
But, it’s not just news and updates. We have countless guides covering all manner of topics.
Taking just one example, incorporation is a commonly considered subject. Our guides can take readers through the Tax consequences and various options, which, together with an Incorporation checklist, should ensure that the i’s are dotted and t’s crossed, with nothing overlooked.
Goodwill on incorporation has seen countless changes over the last few years, both from the perspective of the individual, and the company. It’s hard to keep up-to-date and remember when each rule came in, but don’t fear; we’ve Got that covered too!
The Rossmartin team know that giving practical, real-world, advice to clients is essential when in practice. Guides such as Partnership agreements: What should be considered? allow advisers to do this with ease.
Common questions
In a similar vein, we have a guide considering whether to Hold a buy-to-let property personally, or via a company. This is one of those very common questions seen in practice, and this guide makes it easy to reply to a client with a considered and comprehensive overview of the issues.
Sometimes, what may seem a simple question, doesn’t have a simple answer. One such case is: What is an ordinary share?
Meeting this definition, or not, can have undesired tax consequences. This guide summarises a raft of evolving case law to give the answers.
Not-so-common questions
Naturally, we don’t just deal with the common questions. Perhaps you’re looking for something more unusual that many people have never encountered, such as the Herd basis rules?
Making your life easier
We see our job as trying to make life easier for our subscribers.
Perhaps the most common question asked by directors of owner-managed companies is “what salary do I pay myself?” Of course, the optimum answer changes most years. Guess what? We’ve got a guide for that too!
Many common questions asked by business owners don’t have a one-size-fits-all response; the best answer will be bespoke to circumstances. In cases like that, perhaps when thinking about Converting part of a home into an office, we provide the toolkit to give the necessary advice.
Flowcharts
Many subscriber guides include flowcharts to aid the user to navigate a set of complex rules with relative ease, saving time and angst in otherwise having to work from the ground up.
Personal favourite flowcharts, which have regular use include Capital allowances on four-wheeled vehicles and Loan relationships toolkit: Is a balance within the rules?.
Examples
Lots of our guides use worked examples to illustrate points made and to demonstrate how legislation operates. This makes difficult topics much more digestible.
Good examples of this are the Reorganisations zone, which includes seven comprehensive case studies, such as the Demerger of an investment business from a trading company.
Another favourite worked example is the calculation of the maximum National Insurance payable under the Annual maxima rules. These rules can be complex and many people are not aware of them.
Masses of useful information
We have countless guides containing invaluable information, which may not be needed every day. One which came up recently was Penalties in the Construction Industry Scheme. Try finding all of the information in this guide via Google... it’ll take some time!
It's not just tax
Between us, the team at Rossmartin have decades of practical experience in advising businesses and advising their advisers too. We draw on this experience and incorporate it into each and every guide making them practical and real-world.
Fingers on the pulse
Rossmartin advisers also spend time working for the sister-website Virtual Tax Partner. Here we provide support and advice to hundreds of accountants, advisers and their clients.
Not only does this mean we have our fingers on the pulse of topical issues, but if you’ve recently encountered a problem, we’ve probably seen it before! Why not reach out and ask us for assistance?
There's even more?!?
This is merely the tip of the iceberg of the www.rossmartin.co.uk content. We haven’t even got as far as mentioning Inheritance Tax Business Property Relief, Tax planning with trusts, Research and Development Relief, Family Investment Companies... the list goes on.
We provide regular CPD webcasts of between 10 and 30 minutes. These are great for keeping up-to-date over your lunch break. Our 2023-24 CPD programme can be found Here.
One last resource to highlight now is our regular What’s new? updates. Company Tax: What's New FY2023 is just one example.
Lastly...
Thinking about Subscribing? Honestly, it's a no-brainer.
If you like our content come and join us.
Thousands of accountants and advisers and their clients use www.rossmartin.co.uk as their primary TAX resource.
Register with us now to receive our receive our FREE SME Topical Tax Update & newletter