by Jessica Garbett | Mar 18, 2016 | ACCA, budget, business taxation
Van benefit charge for zero-emission vehicles remains at 20% rate. When a van is made available to an employee by reason of his employment and is also made available for private use (other than for restricted private use), then a benefit in kind will arise. The...
by Jessica Garbett | Mar 17, 2016 | ACCA, budget
The Chancellor is finally thinking small first ACCA gives its view on the Chancellor’s eighth budget Any bad news was kept to a minimum with the referendum so close, but there was a clear focus on small businesses and young people, although it is less clear where the...
by Jessica Garbett | Mar 16, 2016 | budget, business issues, business taxation, capital taxation, dividends, financial reporting, IR35, pension reform, pensions, personal finance, personal taxatation, property taxation, PSC
We’ve added a briefing on todays 2016 Spring Budget and other current technical issues 20136 03 technical briefing
by Jessica Garbett | Mar 16, 2016 | business taxation, dividends, personal finance, personal taxatation
We’ve added a new briefing to our website on Tax on Savings and Dividends, pertinent with the new Personal Savings Allowance, and the New Dividend Tax, both coming in this April. Tax on Savings and Dividends
by Jessica Garbett | Mar 16, 2016 | business issues, National Minimum Wage and National Living Wage
We’ve added a briefing to our website on National Minimum Wage and the New National Living Wage which comes in this April. National Living Wage/National Minimum Wage
by Jessica Garbett | Mar 14, 2016 | ACCA, business issues, property taxation
The government introduced further obligations on landlords and managing agents to check that tenants and lodgers are legally eligible to rent property in England. On 1 February 2016 the government introduced further obligations on landlords and managing agents to...
by Jessica Garbett | Mar 9, 2016 | ACCA, business taxation, fee protection, HMRC, personal taxatation
HMRC has introduced a new approach to handling repayment queries. The beginning of the calendar year has seen a flurry of enquiry letters issued by the HMRC Repayment Credibility Team. Typically the taxpayers receiving the letters have multiple streams of PAYE and...
by Jessica Garbett | Mar 7, 2016 | ACCA, business taxation, enquiries and tax disputes, HMRC, personal taxatation
Tax penalties and reasonable excuses. Practitioners are not under a duty to make enquiries to identify irregularities which are unrelated to the work they have been engaged by clients to undertake. Notwithstanding this, members may give clients information about how...
by Jessica Garbett | Mar 2, 2016 | ACCA, business issues, pension reform, pensions
The government will publish a response to the consultation on technical changes for auto enrolment in early March 2016 with a view to making the regulations in the same month. The regulations would come into force in April 2016 and would amend the existing...
by Jessica Garbett | Feb 29, 2016 | ACCA, business taxation, HMRC, personal taxatation
HMRC has published its myth buster which highlighted the chasm that exists between businesses and their advisers and HMRC. It has also been holding meetings around the country to further explain the policy. There is still very little detail on the proposal and this is...
by Jessica Garbett | Feb 29, 2016 | ACCA, pension reform, pensions, personal taxatation
Since April 2015 there has been greater choice about how to withdraw funds from defined contribution pension schemes. Flexi-access drawdown People over 55 years of age can now start to withdraw money from a pension scheme. The first 25% of any withdrawal is tax free...
by Jessica Garbett | Feb 25, 2016 | ACCA, capital taxation, personal taxatation
Guidance on how and when to use form 17 with regards to jointly owned property. Owning a property in joint names can be used as a tax planning tool as each joint owner can use the annual capital gains tax allowance when the property is sold. Purchasing a property in...
by Jessica Garbett | Feb 22, 2016 | ACCA, capital taxation, property taxation, residence and non residence
Guidance on calculating taxable gain or loss. From 6 April 2015, a non-resident individual needs to inform HMRC if they have sold or disposed of UK residential property. The return is due within 30 days of conveyance and must be done electronically. The disposal...
by Jessica Garbett | Feb 21, 2016 | dividends, personal finance, personal taxatation
We’ve added a page to our website with up to date guidance on how Savings and Dividend income is taxed, and changes relevant to 16/17 https://www.whitefieldtax.co.uk/tax-on-savings/
by Jessica Garbett | Feb 18, 2016 | ACCA, personal taxatation, property taxation
Overview of some of the common tax issues on rental expenditure. 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...
