ACCA Archives - Whitefield Tax Limited - Isle of Wight Accountants

Are all trusts subject to IHT?

by Jessica Garbett | Mar 25, 2021 | ACCA, capital taxation

A basic understanding of wills and trusts can help an executor to consider the options available and questions to ask when looking after the wealth of the family. Settlements in trusts are taxable for IHT purposes as if they are trusts without an interest in...

Seeking to improve cashflow via a director’s loan?

by Jessica Garbett | Mar 18, 2021 | ACCA, business issues

Seeking to improve cashflow via a director’s loan? ACCA share this helpful guide around Issues to consider around directors’ loans when advancing funds to help improve business cashflows. Due to the effect of Covid, directors of an owner-managed company might be...

Don’t miss the 1 April tax payment deadline

by Jessica Garbett | Mar 15, 2021 | ACCA, business taxation, Covid19, HMRC, personal taxatation

If you benefited from HMRC’s filing extension, make sure you avoid the 5% penalty Around 1.8 million individuals benefited from a hard-fought campaign which encouraged HMRC not to charge a late filing penalty – provided that returns were submitted online by 28...

Preference shares – equity or liability?

by Jessica Garbett | Mar 11, 2021 | ACCA, financial reporting

Many businesses will be looking at ways of strengthening balance sheets with the introduction of equity. One solution is a share issue but it is important to ensure that they are classed as equity. The classification of preference shares in the financial statements of...

Employers of ex-military get national insurance holiday

by Jessica Garbett | Mar 8, 2021 | ACCA, budget, business issues

Relief applies to recruitment of former members of the UK regular armed forces The Chancellor announced the introduction of a national insurance contributions (NIC) holiday for employers that hire former members of the UK regular armed forces. The relief is available...

Plastic packaging tax will be introduced this year

by Jessica Garbett | Mar 8, 2021 | ACCA, budget, business issues, business taxation

New regulations could lead to 200,000 tonnes of carbon savings in 2022-23 and increase use of recycled materials by 40% Legislation will be introduced in Finance Bill 2021 to establish a plastic packaging tax. This new tax will apply to plastic packaging manufactured...

« Older Entries

Are all trusts subject to IHT?

Seeking to improve cashflow via a director’s loan?

Don’t miss the 1 April tax payment deadline

Preference shares – equity or liability?

Employers of ex-military get national insurance holiday

Plastic packaging tax will be introduced this year

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