by Jessica Garbett | Oct 25, 2014 | ACCA, VAT
The latest changes to VAT rates from countries within the European Union. Denmark From 1 January 2015 the Danish authorities will allow companies 100% input VAT recovery on hotel accommodation costs. This applies uniformly to resident and non-resident companies as...
by Jessica Garbett | Oct 22, 2014 | ACCA, personal finance, personal taxatation, residence and non residence
In August changes took effect around how money brought into the UK or used in the UK under a loan facility secured by foreign income or gains is treated. A taxpayer who is resident but not domiciled in the UK can elect to pay tax on the remittance basis, ie he is...
by Jessica Garbett | Oct 19, 2014 | ACCA, business taxation, enquiries and tax disputes
Offshore loan schemes used by contractors are under attack by HMRC, following the successful outcome of Philip Boyle v HMRC at the First-Tier Tribunal. HMRC is giving the 16,000 or so users of these schemes the opportunity to bring their affairs up to date on...
by Jessica Garbett | Oct 16, 2014 | ACCA, business taxation, employer returns, enquiries and tax disputes, personal taxatation, RTI
Few taxpayers win reasonable excuse appeal cases. These examples buck the trend. Reasonable excuse continues to be important; recent cases have shown many instances where the taxpayer has lost. However, it is possible to win, particularly where there has been an...
by Jessica Garbett | Oct 13, 2014 | business taxation, VAT
A query from a client, “Do I need a receipt for a payment by contactless card, eg a travel ticket?” To clear up a myth, you don’t need recipts to claim an expense. However you should have evidence of that expense. Obviously recipts are good evidence,...
by Jessica Garbett | Oct 13, 2014 | ACCA, accountancy regulation, business issues, financial reporting
The government is consulting on the implementation of the EU Accounting Directive proposed changes to the audit exemption provisions in Companies Act. The Department for Business, Innovation and Skills (BIS) has launched a consultation on the implementation in the UK...
by Jessica Garbett | Oct 10, 2014 | ACCA, VAT
HMRC has had a change of policy following the First Tier Tribunal (FTT) decision in Robinson Family Ltd [2012] UKFTT 360 (TC). The changes are three-fold and are discussed here policy change by policy change. Surrender of a property lease HMRC has changed its policy...
by Jessica Garbett | Oct 9, 2014 | pensions, personal finance, personal taxatation, Tax Help for Old People
There can be a mountain of paperwork to deal with after a bereavement, and everyday matters like dealing with banks, council departments and utility companies can become overwhelming. One area which needs attention in the majority of bereavements is tax. It is also...
by Jessica Garbett | Oct 7, 2014 | ACCA, business issues
The quick guide to IP protection Intellectual property may be the most valuable asset a business owns. Here’s how to protect it. Intellectual property may be the most valuable asset a business owns. Here’s how to protect it. When it comes to setting up and running a...
by Jessica Garbett | Oct 4, 2014 | ACCA, pensions
Statement of Recommended Practice will bring clarity, but lobbying of DWP is important in achieving this. Statement of Recommended Practice will bring clarity, but lobbying of DWP is important in achieving this. A proposed new Statement of Recommended Practice (SORP)...
by Jessica Garbett | Oct 1, 2014 | ACCA, pension reform, pensions
By August this year, more than 21,000 employers had automatically enrolled more than four million staff into a workplace pension, but even bigger numbers are still to come. More than one million small and micro employers with between 1 and 50 staff will need to...
by Jessica Garbett | Sep 25, 2014 | IR35, PSC
Minutes of the May HMRC IR35 forum are now out https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/356504/140721_IR35_Forum_Minutes_-7_May_Final__4_.pdf Useful background for our PSC clients. Nothing revolutionary.
by Jessica Garbett | Sep 24, 2014 | business issues, employer returns, psc guide, VAT
No one likes the idea of getting a penalty from HMRC or Companies House. In our new guidance on this topic, we explain the common penalties and how to avoid them.
by Jessica Garbett | Aug 30, 2014 | ACCA, business issues, VAT
It has been mandatory for businesses to file online VAT returns from 1 April 2012 – but not every business agreed. L.H. Bishop Electrical Co. Ltd was the business that first had an issue with online filing and contacted HMRC, which lead to a first-tier tribunal,...
by Jessica Garbett | Aug 27, 2014 | ACCA, business issues, enquiries and tax disputes, HMRC
HMRC has updated the following three VAT toolkits: VAT partial exemption VAT input VAT output. The toolkits help complete client returns and all toolkits have been updated to include a new facility that allows reference notes to be added and saved or printed. The...
