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Capital gains exemptions and reliefs

by | Feb 10, 2020 | ACCA, capital taxation

A quick refresher from ACCA on the various exemptions and reliefs available on CGT transactions? Capital gains tax (CGT) is charged when there is a chargeable disposal of a chargeable asset by a chargeable person. All forms of property are chargeable assets unless...

Missing our Newsletters?

by | Feb 3, 2020 | administration, WhitefieldNews

Wondering why you haven’t received a newsletter from us for a while? Don’t worry – we always take a December break, and we’ve combined our January and February newsletters for 2020 to allow for Budget 2020 on Tuesday 11 February.  Expect a...

Reimbursement or disbursement

by | Jan 30, 2020 | ACCA, VAT

Knowing the difference is important in getting the right VAT treatment. The difference between reimbursement and disbursement is significant from the VAT point of view as reimbursements are subject to VAT, while disbursements are outside the scope of VAT. If a...

Tax cases and CEST

by | 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...

Corporation tax loss relief changes

by | Jan 9, 2020 | ACCA, business taxation

ACCA provide this comparison table following the 2017 reforms.  The legislation Reform was introduced in schedule 4 of the Finance (No.2) Act 2017. It applies from 1 April 2017. Accounting periods that begin before and end after 1 April 2017 follow commencement...