ACCA Archives - Page 133 of 193 - Whitefield Tax - Isle of Wight Accountants

IHT changes on the horizon

by Jessica Garbett | Jun 1, 2017 | ACCA, capital taxation

Inheritance tax threshold increased to £1m by 2020-21. From 6 April 2017, a new inheritance tax Residence Nil Rate Band (RNRB) is available (in addition to an individual’s own nil rate band (NRB) of £325,000), conditional on the family home being passed down to...

Tax efficient cash extraction from businesses

by Jessica Garbett | May 31, 2017 | ACCA, business taxation, personal taxatation

When to charge a company rent and mortgage interest. With the recently announced reduction of the tax free dividend allowance to a modest 2k next year, many practitioners will be interested to explore other avenues of tax efficient cash extraction still available to...

FRS 102 simplifications will help small companies

by Jessica Garbett | May 29, 2017 | ACCA, financial reporting

The triennial review of FRS 102 has taken place and the FRC is proposing a number of changes. This review takes into account stakeholder feedback on the implementation of FRS 102. Of particular interest are the proposed simplifications to accounting for directors’...

Employers beware – expect an increase in coding notices

by Jessica Garbett | May 24, 2017 | ACCA, employer returns

Understanding HMRC’s plans to address tax under/over payments during the tax year. On 10 April HMRC published a policy paper ‘Helping customers pay the right amount of tax on time’. The paper aims to address tax under/over payments during a tax year which historically...

Recent reporting changes for charities

by Jessica Garbett | May 22, 2017 | ACCA, business issues

Recent changes for charities include around model accounts and audit/examiner reporting requirements. Model accounts The Charity Commission has updated its accounts pack for charitable companies. CC17 Charity accounting templates: accruals accounts (CC17) SORP FRS 102...

VAT partial exemption

by Jessica Garbett | May 17, 2017 | ACCA, VAT

A review of the potential pitfalls. When a business that is registered for VAT makes exempt supplies it will normally fall within the scope of partial exemption. This creates two problems: output VAT cannot be charged on exempt supplies – sounds obvious but the...

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IHT changes on the horizon

Tax efficient cash extraction from businesses

FRS 102 simplifications will help small companies

Employers beware – expect an increase in coding notices

Recent reporting changes for charities

VAT partial exemption

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