business taxation Archives - Page 42 of 80 - Whitefield Tax - Isle of Wight Accountants

Budget 2020: Corporation tax rate unchanged

by Jessica Garbett | Mar 13, 2020 | ACCA, budget, business taxation

Expected cut to an already low rate did not happen. Since 2010 the government has cut the headline rate of CT from 28% to 19%, giving the UK the lowest headline rate in the G20. The expected cut to corporation tax did not take place and to ‘provide support for vital...

R&D expenditure credit increased to 13%

by Jessica Garbett | Mar 13, 2020 | ACCA, budget, business taxation

Consultation announced on data and cloud computing expenditure qualifying for R&D tax credits. Research & Development tax credits This objective will be supported by increasing the Research & Development Expenditure Credit (RDEC) rate from 12% to 13% from...

Averaging profits for farmers – a refresher

by Jessica Garbett | Feb 27, 2020 | ACCA, business taxation

A refresher from ACCA on how farmers and market gardeners in the UK may obtain relief by averaging the profits of consecutive years. Farm subsidies The Direct Payments to Farmers (Legislative Continuity) (DPLC) Bill provides governments across the UK powers to...

Independent review into loan charges

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

Have you seen HMRC’s response to the review’s outcomes? You may have already received HMRC’s communication highlighting its advice around the independent review into loan charges where it signalled it will refund voluntary payments. HMRC stated in its update:...

Benefits in kind: employee-used assets

by Jessica Garbett | Jan 27, 2020 | ACCA, business taxation, employer returns, personal taxatation

There’s a lot to consider when it comes to employees using assets other than a car or van for private use. What is the taxable benefit in kind to an employee or director when the employer allows the employee to use an asset for private use? The employee will have a...

Tax cases and CEST

by Jessica Garbett | Jan 20, 2020 | ACCA, business issues, business taxation, IR35

A recent tax case could prove key when using CEST (Check Employment Status for Tax service) Check Employment Status for Tax (CEST) is a tool from HMRC to determine if an individual, or a worker on a specific engagement, should be classed as employed or self-employed...

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Budget 2020: Corporation tax rate unchanged

R&D expenditure credit increased to 13%

Averaging profits for farmers – a refresher

Independent review into loan charges

Benefits in kind: employee-used assets

Tax cases and CEST

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