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Top tips when using provisional figures in self-assessment tax returns

by Jessica Garbett | Jan 6, 2020 | ACCA, business taxation, personal taxatation

A tax return containing provisional figures should only be submitted if it becomes clear that a more accurate figure will not be available before the filing date. HMRC will not accept a return containing estimated or provisional figures when the client did not provide...

Dividend treatment in the accounts – commonly asked questions around dividend and its disclosures in the accounts

by Jessica Garbett | Dec 18, 2019 | ACCA, business issues

Commonly asked questions around dividend and its disclosures in the accounts. A dividend is a payment made by the company to its shareholders, usually as a distribution of profits. Part 23 The Companies Act 2006 (section 829 to 853) details all the provisions for...

Don’t forget the state pension!

by Jessica Garbett | Dec 9, 2019 | ACCA, pensions, personal finance

A handy guide to help you review your state pension provision. An overhaul in April 2016 replaced the old two-tier system with a flat-rate state pension, which is now (in 2019/20) £168.60 per week. However, the amount a person is entitled to depends on their National...

How to save IHT on a property portfolio

by Jessica Garbett | Dec 2, 2019 | ACCA, business issues, capital taxation, property taxation

We examine legislation which allows you to save money when making inheritance tax provision on properties. It is a well-known saying that ‘inheritance tax is a tax that you choose to pay’. This is because you elect not to take any action while you are able to,...

Entrepreneurs’ relief – the importance of trading activities even when suspended

by Jessica Garbett | Nov 28, 2019 | ACCA, business taxation, capital taxation

A must read case for entrepreneurs’ relief. Entrepreneurs’ relief (ER) reduces the rate of capital gains tax (CGT) on disposals of certain business assets from 20% to 10%. The recent first-tier tribunal case of Potter [2019] UKFTT 0554 (TC) re-emphasises the...

Doing business in a foreign country

by Jessica Garbett | Nov 25, 2019 | ACCA, business issues

Let’s explore the risks and benefits of investing or expanding outside of the UK. When considering business options it is important to look at the options, opportunities and any constraints. This will inevitably include: the type of entity (typically an agency,...

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Top tips when using provisional figures in self-assessment tax returns

Dividend treatment in the accounts – commonly asked questions around dividend and its disclosures in the accounts

Don’t forget the state pension!

How to save IHT on a property portfolio

Entrepreneurs’ relief – the importance of trading activities even when suspended

Doing business in a foreign country

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