personal taxatation Archives - Page 47 of 52 - Whitefield Tax - Isle of Wight Accountants

Tax return white space

by Jessica Garbett | Jan 28, 2015 | ACCA, enquiries and tax disputes, HMRC, personal taxatation

The tax return white space is the innocuous looking ‘any other information’ space at box 19 of the main SA100 tax return. It is more important than it looks, as the case of Charlton and Others v HMRC illustrates. In the case of Charlton and Others v HMRC the taxpayers...

High income child benefit charge – an ACCA refresher

by Jessica Garbett | Jan 24, 2015 | ACCA, HMRC, personal finance, personal taxatation

The high income child benefit tax charge is a unique tax, in that it seeks to claw back a state benefit, namely child benefit through the self-assessment tax system. This tax applies where one of the parents/guardians has income in a tax year of more than £50,000. The...

Clamping down on tax avoidance

by Jessica Garbett | Jan 23, 2015 | ACCA, business taxation, enquiries and tax disputes, ethics, HMRC, personal taxatation

The Finance Act 2014 contains a number of measures to minimise tax avoidance. In recent years the government has clamped down significantly on tax avoidance schemes, in particular introducing the Disclosure of Tax Avoidance Schemes (DOTAS) which obliges promoters and...

Ten common tax elections and claims

by Jessica Garbett | Jan 22, 2015 | ACCA, business taxation, capital taxation, HMRC, personal taxatation

How to make claims under common tax elections. Main residence nomination s222 (5a) Taxation of Chargeable Gains Act 1992 (TCGA 1992) Taxpayers with two or more residences may choose which property is to be treated as their main residence for capital gains tax purposes...

Common tax issues on rental expenditure

by Jessica Garbett | Dec 19, 2014 | ACCA, business taxation, personal taxatation

The general rule when calculating rental business profits is that expenses will be treated as revenue expenditure provided they are incurred wholly and exclusively for the purposes of the business and are not of a capital nature. Expenditure incurred before a property...

A New Year and some New Changes to Tax

by Jessica Garbett | Dec 18, 2014 | HMRC, personal taxatation, Tax Help for Old People

Following changes announced in the Chancellor’s Autumn Statement and the last Budget we thought we would highlight some points of interest for the ordinary taxpayer. If you would like more details, please don’t hesitate to contact us. The Personal Allowance (PA), the...

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Tax return white space

High income child benefit charge – an ACCA refresher

Clamping down on tax avoidance

Ten common tax elections and claims

Common tax issues on rental expenditure

A New Year and some New Changes to Tax

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