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: Last Updated: 28 March 2014

My highlights are as follows (but scroll down for the full list). P11Ds: penalties We have prepared this refresher because HMRC's new penalty regime is, well, confusing. PAYE: late payment penalties Different penalties, more confusion, but this guide includes some key planning points that you will need to discuss with your clients. Cider House Rules Reprieve All change for FHLs and apple growers. Reasonable excuse: reliance on misleading advice from HMRC Who's confusing who? A tax case for modern times. Kind regards Nichola Nichola Ross Martin FCA Tax Director www.rossmartin.co.uk Your online Virtual Tax Partner: practical support for accountants, tax advisers and their clients
Free view news New notification when no P35 is due There is a new online facility for employers when no P35 is due. Reasonable excuse: reliance on misleading advice from HMRC Ignorance of the law is not normally a valid excuse for a tax adviser when things go wrong. However...More New fines for failure to register under MLR More fines! From 1 April 2010 HMRC is imposing new sanctions on businesses which have not registered under the Money Laundering Regulations. Capital Gains: post transaction valuation check New guidance for HMRC, handy advice on timings. Cider House Rules Reprieve The proposed changes to furnished holiday letting and cider have been dropped from the 2010 Finance Bill. Many Happy Returns In addition to the 2010 Finance Bill we have two new taxes acts: no further changes in tax law, but lots of new section numbers. Time limits for assessment and claims From 1 April 2010 the time limits for assessments and claims change. This may have a major affect on tax repayment claims. Tax Data More tax rates and allowances, all updated following the Budget. Updates, new tax guides and checklists For PAID subscribers only (because you're worth it :) Tax penalties: grounds for appeal We have updated this again following several recent sucessful and unsucessful appeals. Capital Gains Tax: Entrepreneur's Relief New updates, with (following subscriber queries) new examples to demystify the difference between disposing of a business asset and part of a business. Furnished Holiday Letting All change: special tax status is not being removed this year. We think this possibly makes little difference to CGT or IHT plannning. PAYE Tips and Links The Tax Geek summarises the key PAYE developments in the last month (with links). PAYE dispensations It is that time of year again: the process and what is covered has been changed. You MUST review and update existing ones. Wear and tear allowance and renewals basis A refresher. Buyer: should I elect to fix the purchase price of fixtures? Part 1 of our new step by step guide to capital allowances. Tax planner for 2010/11 & 2011/12 Our UNIQUE Budget tax planner for 2010/11 and 2011/12 has been updated with new links. Incorporating an existing business How to incorporate, examples, comparisons of relevant CGT, tax reliefs, SDLT and elections. Estate planning checklist Need a refresher? This checklist covers spouses, gifts and exemptions. Inheritance Tax Rates and Allowances A new addition to the Tax Data section. Surplus cash CGT & IHT Relief and ESC C16 Company has large cash surplus: how does this affect Entrepreneurs' Relief, Business Property Relief, and what if you try and dissolve the company? Updated: for Budget...More New and updated Practical Tax Toolkits Practical Tax Toolkits For companies How to value a business An introduction to the basics Unlawful, illegal and ultra vires dividends Updated following the Budget this illustrates the different tax treatment for different types of individual in connection with a close company. Recent FREE view guides & updates P11Ds: penalties How does HMRC's new penalty regime affect P11Ds? This guide will update you. PAYE: late payment penalties These are even worse than we thought. We add more practical considerations for businesses and advisers.
KEY reading this quarter (subscribers only) Employers' Quarterly Tax Briefing Top tips, tools, links and planning ideas for 2010/11 and beyond...More Quarterly Tax Refresher (for advisers only) This essential tax tool is an excellent source of online CPD. Download this onto your mobile, train staff, and of course brief your clients...More More FREE news, guides, notes and checklists You have to pay to subscribe to unlock the full content in www.rossmartin.co.uk. Here is some of our free material: Recommendations: what do our subscribers say about us? Free guides You have two options: 1. Explore the site (then click on the menus and you will soon see what is free) 2. See a small sample. Missed an edition? See Nichola's SME Tax News Archive. Subscribe to the Practical Tax Database to UNLOCK your internet Virtual Tax partner: What do you get? Open access to the entire Practical Tax Database which contains over 300 tax and legal guides packed full of essential know-how for advisers. Our regular Email update when there are new guides and tax issues that we think you MUST read. Nichola’s monthly SME tax news summary (we do the reading and cherry pick the best of the press, magazines and websites for you). NEW our Quarterly Tax Refresher (for advisers ONLY) + our Quarterly Employer Briefing. A 25% discount to our NEW tax webinar-update service). You can also commission guides and checklists for your own practice, post comments and upload your own articles. You can access the Virtual Tax Partner service for FREE quick calls, or just a chat.