News and Comment - Page 97 of 101 - Whitefield Tax - Isle of Wight Accountants

Inheritance tax update

by Jessica Garbett | Jun 12, 2014 | ACCA, capital taxation

Recent developments in inheritance tax legislation and new guidance from HMRC have given rise to changes to the inheritance tax code. Nil rate provision in legacy In the case of Loring v Woodland Trust, the transfer and use of Mrs Loring’s husband’s unused nil...

HMRC P800s – Annual Reconcilliation for non Self Assessment cases

by Jessica Garbett | Jun 11, 2014 | personal finance, Tax Help for Old People

Summertime: but the living isn’t always easy Just like ladies’ hats at Royal Ascot and strawberries and cream at Wimbledon, summer would not be the same without some contact from HMRC. Now in their third year, HMRC’s annual tax calculations (P800) are being sent out...

Lords Select Committee on PSCs

by Jessica Garbett | Jun 10, 2014 | business taxation, HMRC, IR35, personal taxatation, PSC

The House of Lords Select Committee on PSCs has reported recently. There is nothing tremendously novel, but a report on their findings was published in Taxation magazine and is an interesting read. The Governments response, presumably written by HMRC, is here and is...

Samadian case – Travel costs – deductible or not deductible?

by Jessica Garbett | Jun 8, 2014 | ACCA, expense payments, personal taxatation

The Samadian case outlines the key considerations when considering what relief is available for travel and when travel to work is not travel to work. The Dr Samadian case, related to the tax deductibility of travelling expenses, went to the Upper Tribunal. He was...

HMRC Enquiry Centres closing this month

by Jessica Garbett | Jun 6, 2014 | Tax Help for Old People

The end of an era…. It’s true! HMRC’s enquiry centres are to close during June 2014. So, what do you do if visiting one of these centres was the way you dealt with you tax affairs? All is not lost, if you need to make contact with HMRC you must call their...

Tax credits: a new duty for payroll providers?

by Jessica Garbett | Jun 4, 2014 | ACCA, employer returns, personal finance, personal taxatation, RTI

With RTI being used to calculate renewal notices, how should employee queries be handled? During May and June HMRC is sending out renewal notices to those people claiming tax credits, but this year there will be a change in the procedure. For the first time HMRC will...

Proposed removal of the SRA’s ‘Accountants Report’

by Jessica Garbett | Jun 1, 2014 | ACCA, business issues

The Solicitors Regulation Authority (SRA) has launched a consultation proposing to remove the mandatory requirement that firms must submit an annual accountant’s report. The SRA proposal is part of its programme of regulatory reform that aims to remove unnecessary...

Lifting the veil of incorporation

by Jessica Garbett | May 30, 2014 | ACCA, business issues

Lifting the veil of incorporation is rare in practice; however the courts do permit it, as a recent case illustrates. Lifting the veil of incorporation is rare in practice; however the courts do permit it when the person or persons are using the incorporation of a...

Automatic enrolment into pension schemes

by Jessica Garbett | May 24, 2014 | ACCA, pension reform, pensions

A workplace pension is a way of saving for your retirement that’s arranged by your employer. Other names for workplace pensions are ‘occupational’, ‘works’, ‘company’ or ‘work-based’ pensions. Most new pension schemes...

Social investment tax relief

by Jessica Garbett | May 16, 2014 | ACCA, business issues, capital taxation, HMRC

Following a consultation last year, Finance Act 2014 introduces a new form of tax relief onto the statute books, called social investment tax relief. The legislation is intended to encourage individuals to invest in social enterprises and obtain attractive tax reliefs...

UK SMEs are neglected at the critical growth stage

by Jessica Garbett | May 8, 2014 | ACCA, business issues

Local enterprise partnerships not as effective as predecessor, say SMEs in new report. Initiatives aimed at helping the UK’s small and medium sized enterprises (SMEs) are failing at the critical growth stage of the business, with incentives loaded largely at the...

Employment Allowance

by Jessica Garbett | May 7, 2014 | business taxation, employer returns, personal taxatation

Employment Allowance is a new tax break to small businesses and has been in the media recently – we’ve produced a guide, including its impact on salary levels for directors of small companies and the salary / dividend mix. Our conclusion is that it changes...

New approach to resolving disputes between HMRC and taxpayers

by Jessica Garbett | May 1, 2014 | ACCA

New approach to resolving disputes between HMRC and taxpayers HMRC and taxpayers don’t always agree on the amount of tax due, but resolving these disputes doesn’t have to involve the appeals, tribunals and court hearings which can prove so lengthy and costly for both...

The transfer of a portion of personal allowances between spouses or civil partners has been announced

by Jessica Garbett | Apr 20, 2014 | ACCA, budget

Contributed by ACCA, in their own word The transfer of a portion of personal allowances between spouses or civil partners has been announced. In the Autumn Statement 2013, the government announced its intention to recognise marriage and civil partnership in the...

Artificial dual contracts of non-domiciles

by Jessica Garbett | Apr 15, 2014 | ACCA, budget

Contributed by ACCA, in their own words New measure will tax the overseas employment income of non-domiciles on the arising basis, rather than on the remittance basis, in the case of artificially arranged contracts with the same or associated employers. First...

« Older Entries

Next Entries »

Inheritance tax update

HMRC P800s – Annual Reconcilliation for non Self Assessment cases

Lords Select Committee on PSCs

Samadian case – Travel costs – deductible or not deductible?

HMRC Enquiry Centres closing this month

Tax credits: a new duty for payroll providers?

Proposed removal of the SRA’s ‘Accountants Report’

Lifting the veil of incorporation

Automatic enrolment into pension schemes

Social investment tax relief

UK SMEs are neglected at the critical growth stage

Employment Allowance

New approach to resolving disputes between HMRC and taxpayers

The transfer of a portion of personal allowances between spouses or civil partners has been announced

Artificial dual contracts of non-domiciles

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