News and Comment - Page 86 of 101 - Whitefield Tax - Isle of Wight Accountants

Anti-money laundering: cutting red tape

by Jessica Garbett | Oct 9, 2015 | ACCA, business issues

BIS has launched a review around anti-money laundering and counter terrorist finance. The BIS review seeks evidence of the impact on business of the current anti-money laundering and terrorist finance regime, and specifically the role of supervisors in that regime....

A guide to the statutory residence test

by Jessica Garbett | Oct 5, 2015 | ACCA, HMRC, personal taxatation, residence and non residence

How to determine status under the statutory residence test. A Statutory Residence Test (SRT) was introduced with effect from 6 April 2013, the aim of which is to provide more certainty in determining whether a person is regarded as resident or non-resident for UK tax...

Boosting retirement income with state pension top up

by Jessica Garbett | Oct 2, 2015 | ACCA, pension reform, pensions

The Department for Work and Pensions (DWP) outlines a new way of increasing retirement income. State pension top up offers an opportunity to boost retirement income. In exchange for a lump sum payment, those who have already reached state pension age, or are reaching...

The pensions cash trap for parents

by Jessica Garbett | Sep 7, 2015 | pension reform, pensions, personal taxatation, Tax Help for Old People

Do you or your partner claim Child Benefit? Are either or both of you aged 55 or over and considering taking cash out of your pensions? Then read on – you could face a hefty tax bill, lose your tax credits and lose your Child Benefit. Since 6 April 2015, taking cash...

Buy to Lets and Corporate Ownership

by Jessica Garbett | Sep 1, 2015 | budget, business issues, business taxation, capital taxation, dividends, personal taxatation, property taxation

A question: Last time I asked about “should I own my BTL personally or through a company” the advice was that owning personally was better. Is this still expected to be the case entering 2016? But regardless, what are the rules/issues if one I did buy one...

Helping vulnerable people in crisis with their tax – Bridge The Gap

by Jessica Garbett | Aug 24, 2015 | ACCA, Tax Help for Old People

Whitefield already support Tax Help for Older People with some case work, this article contributed from ACCA InPractice explains some more about the work they do In May, we introduced the work of Bridge the Gap, a charity which helps vulnerable people in crisis with...

FRC introduces changes in response to EU Accounting Directive

by Jessica Garbett | Aug 17, 2015 | ACCA, accountancy regulation, financial reporting

UK GAAP: reporting options for micro, small and medium/large companies The Financial Reporting Council (FRC) has issued a suite of changes that are largely in response to the implementation of the new EU Accounting Directive, and include: a new standard, FRS 105 The...

Employers Liability Insurance and the family business

by Jessica Garbett | Aug 10, 2015 | business issues

We’ve had some questions recently about Employers Liability Insurance and family businesses. We’ve put some new guidance in our help and guidance section about this: Practical: Employers Liability Insurance

Summer Budget: wear and tear allowance

by Jessica Garbett | Aug 10, 2015 | ACCA, budget, business taxation, personal taxatation, property taxation

Wear and tear allowance to be replaced with a new relief. Landlords can currently claim a wear and tear allowance when they rent out furnished residential property to cover the cost of replacing furnishings. This wear and tear allowance is calculated as 10% of the...

So Many Changes! Looking at recent personal tax changes

by Jessica Garbett | Aug 7, 2015 | budget, personal taxatation, Tax Help for Old People

The most recent budget announced some interesting changes; combine them with those announced earlier in the year and also in 2014, and we can all be forgiven for becoming confused. Here, we look at the ones that affect most of us, not exhaustive, along with the dates...

Changes to VAT treatment for prompt payment discounts

by Jessica Garbett | Aug 6, 2015 | ACCA, VAT

Changes to the VAT treatment of prompt payment discounts for all supplies of goods and services came into effect from 1 April 2015. A Prompt Payment Discount (PPD) is an offer by a supplier to their customer of a reduction in the price of goods and/or services...

Is fundamental reform of IR35 on the horizon? HMRC consultation

by Jessica Garbett | Aug 3, 2015 | ACCA, budget, IR35, PSC

The government has no plans to abolish IR35. Instead, you have an opportunity to comment on how to reform the legislation. Intermediaries Legislation (IR35): discussion document highlights that the abolition of IR35 is not considered to be an option for the government...

ACCA head of taxation, responds to George Osborne’s summer Budget

by Jessica Garbett | Aug 1, 2015 | ACCA, budget, politics

Chas Roy-Chowdhury, ACCA head of taxation, responds to George Osborne’s summer Budget. Inheritance tax The Chancellor should have been bolder in his first Budget in a Conservative majority government. The change to inheritance tax is a positive step, although he could...

Summer Budget: tax treatment of interest paid on property income

by Jessica Garbett | Jul 30, 2015 | ACCA, budget, personal taxatation, property taxation

New measure will restrict relief for finance costs on residential properties to the basic rate of income tax. This measure will restrict relief for finance costs on residential properties to the basic rate of income tax and will be introduced over four years from 6...

ACCA on 2015 Budgets (so far)

by Jessica Garbett | Jul 27, 2015 | ACCA, budget

In ACCAs own words A guide to the 2015 Budgets This is a basic guide, prepared by ACCA’s Technical Advisory team, for members and their colleagues or clients. It is an introduction only and should not be used as a definitive guide, since individual...

« Older Entries

Next Entries »

Anti-money laundering: cutting red tape

A guide to the statutory residence test

Boosting retirement income with state pension top up

The pensions cash trap for parents

Buy to Lets and Corporate Ownership

Helping vulnerable people in crisis with their tax – Bridge The Gap

FRC introduces changes in response to EU Accounting Directive

Employers Liability Insurance and the family business

Summer Budget: wear and tear allowance

So Many Changes! Looking at recent personal tax changes

Changes to VAT treatment for prompt payment discounts

Is fundamental reform of IR35 on the horizon? HMRC consultation

ACCA head of taxation, responds to George Osborne’s summer Budget

Summer Budget: tax treatment of interest paid on property income

ACCA on 2015 Budgets (so far)

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