ACCA Archives - Page 111 of 193 - Whitefield Tax - Isle of Wight Accountants

HMRC crack down on abuse of rent-a-room relief

by Jessica Garbett | Aug 28, 2018 | ACCA, personal taxatation, property taxation

Concerns that original purpose is being abused. The rent-a-room scheme is a relief which provides that the rent received by an individual from a lodger (currently £7,500) can be exempt from income tax. This limit is halved if another person is also entitled to the...

Dividend vs Distributions in Specie

by Jessica Garbett | Aug 23, 2018 | ACCA, business issues, business taxation

Looking at in species in relation to company law and reporting. Where a dividend is declared in cash, but satisfied by a transfer of assets, it is called ‘dividend in specie’. This type of dividend falls under Article 34 of model articles for private companies limited...

Employment benefits

by Jessica Garbett | Aug 20, 2018 | ACCA, business taxation, employer returns, personal taxatation

A refresher on the treatment of benefits, form P11D and relevant deadlines. Employment benefits fall into the following broad categories: Salary, which is taxed through to payroll when the money paid to the employee is usually monthly or weekly. Taxable benefits in...

The potential benefits of open banking

by Jessica Garbett | Aug 16, 2018 | ACCA, business issues

Understand how open banking could benefit you What is open banking? Open banking is part of a piece of European legislation known as the Second Payment Services Directive, or PSD2. This requires banks to open up their data to third parties, designed to boost...

Filing deadlines for limited companies

by Jessica Garbett | Aug 13, 2018 | ACCA, business issues, business taxation, employer returns

Ensure you understand your filing deadlines. Private limited companies have filing deadlines for accounts and tax returns. ACTION DEADLINE First accounts with Companies House 21 months after date...

ATED reliefs and filing deadlines

by Jessica Garbett | Aug 6, 2018 | ACCA, property taxation

Following on from last month’s ATED update the available reliefs are considered alongside filing deadlines. The reliefs available are: Property rental business relief Property is used in a commercial property business to generate taxable profit, or steps are being...

HMRC crack down on abuse of rent-a-room relief

Dividend vs Distributions in Specie

Employment benefits

The potential benefits of open banking

Filing deadlines for limited companies

ATED reliefs and filing deadlines

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