personal taxatation Archives - Page 35 of 52 - Whitefield Tax - Isle of Wight Accountants

Analysing the Autumn Statement

by Jessica Garbett | Dec 5, 2016 | ACCA, business taxation, capital taxation, personal taxatation

Infrastructure and digital economy The Chancellor provided the National Infrastructure Commission with a fiscal remit that the government intends to spend 1.2% of GDP on economic (physical and digital) infrastructure to 2020. There was also a significant comitment to...

Changes to tax relief for residential landlords

by Jessica Garbett | Nov 17, 2016 | ACCA, personal taxatation, property taxation

It is now only six months until the changes to tax relief start to be phased in. Here is a quick refresher on the impact of the new finance costs restrictions. What’s changed? In a nutshell, the tax relief that landlords of residential properties were able to claim...

When are pre-letting expenses allowed?

by Jessica Garbett | Oct 21, 2016 | ACCA, business taxation, personal taxatation, property taxation

A look, with working examples, at pre-letting expenses and the issue of whether repairs are a capital or revenue expense. Profits from UK land or property are treated, for tax purposes, as arising from a business. The broad scheme is that rental business profits are...

If the tax return is wrong, who is to blame?

by Jessica Garbett | Aug 26, 2016 | ACCA, HMRC, personal taxatation

Such situations can be complicated – as these two examples demonstrate. The case law involving ‘duty of care’ is extensive and detailed. Rather than wade through all of the historic precedents and try to apply them to ‘wrong tax returns’ it is more interesting to...

Change in end of year reconciliation letter

by Jessica Garbett | Aug 23, 2016 | ACCA, HMRC, personal taxatation

HMRC is testing a change with taxpayers. From 1 August some taxpayers due a refund may see a slight change to the end of year reconciliation letter they receive (P800). HMRC will be testing how this change works with the aim of getting taxpayers to use their Personal...

HMRC’s position on voluntary tax returns

by Jessica Garbett | Aug 9, 2016 | ACCA, HMRC, personal taxatation

HMRC has clarified its position on voluntary tax returns. ‘HMRC’s long-standing policy is to accept voluntary ITSA individual and partnership returns on the same basis as returns received pursuant to a s8 TMA1970 notice, where the clear intention of the person...

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Analysing the Autumn Statement

Changes to tax relief for residential landlords

When are pre-letting expenses allowed?

If the tax return is wrong, who is to blame?

Change in end of year reconciliation letter

HMRC’s position on voluntary tax returns

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