February 2016 - Page 3 of 4 - Whitefield Tax Limited - Isle of Wight Accountants

Accrued income scheme

by Jessica Garbett | Feb 10, 2016 | ACCA, personal finance, personal taxatation

This Content Was Last Updated on February 9, 2017 by Jessica Garbett De-mystifying the accrued income scheme. The accrued income scheme was originally introduced to counteract a practice known as bondwashing – converting income into capital gains by disposing of...

Benefits in kind loans to directors and employees

by Jessica Garbett | Feb 8, 2016 | ACCA, employer returns, personal taxatation

What happens when benefits in kind loans are not exempt from reporting. If the loans are not exempt from reporting they should have been included on the P11d of the employee. The normal method of calculation is to take the average for the year: Take the average of the...

Reasonable excuse – tax returns

by Jessica Garbett | Feb 5, 2016 | ACCA, HMRC, personal taxatation

This Content Was Last Updated on February 9, 2017 by Jessica Garbett You can remove tax return-related penalties if there is a reasonable excuse for not submitting the return on time. You can remove tax return-related penalties if there is a reasonable excuse for...

February 2016 Newsletter

by Jessica Garbett | Feb 4, 2016 | newsletter

This Content Was Last Updated on April 4, 2020 by Jessica Garbett This month’s newsletter includes the following articles: the introduction of the right to rent obligations, Capital Gains Tax planning, tax payments due 31 January 2016 and the introduction of the...

Statutory residence test

by Jessica Garbett | Feb 3, 2016 | ACCA, personal taxatation, residence and non residence

This Content Was Last Updated on February 9, 2017 by Jessica Garbett UK residence and domicile status is important in order to determine an individual’s liability to UK taxes. As a general rule taxpayers who are resident in the UK in a tax year are subject to UK tax...

Accrued income scheme

Benefits in kind loans to directors and employees

Reasonable excuse – tax returns

Statutory residence test

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