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This Practical Tax Database and Virtual Tax Partner® Toolkit is your online tax partner. It answers all your key tax FAQs, is packed with useful and practical tax and business guidance.

The information gathered here is split into tax planning guides, FAQs, know-how and tools. With worked examples and tax compliance checklists.

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Hello,

We have a varied and interesting selection of news and cases for you this week, plus we feature Question & Answers from our recent tax conference hot topics, and summaries of the best bits of the latest Employer and Agent Bulletins from HMRC.

Our Virtual Tax Partner practical tax conference ran this week and the first session concentrated on ‘How to run the most tax-efficient accounting practice…ever!'. Speaker, Nichola Ross Martin CTA (fellow) FCA, looked at ways that an accountant can 'Preach what you practice!'

Hello,

If you were starting out again in practice, how would you plan your business? If you're in the process of selling up, with the benefit of hindsight is there any advance planning you would have done differently? And, what, if anything, are you doing about Inheritance Tax (IHT) planning?

Hello,

Research prepared for HMRC on the 'Impact of Making Tax Digital for VAT' seems to have been buried on HMRC’s website. Published in July 2021, it reveals something of a mixed picture regarding benefits that Making Tax Digital (MTD) for VAT can offer businesses.

In Dukeries Healthcare Ltd and Ors v Bay Trust International Ltd, HMRC and Ors [2021] EWHC 2086 (Ch), the High Court dismissed claims to set aside Remuneration Trust arrangements using the equitable doctrine of mistake. There was insufficient evidence of serious mistake and the claimants had accepted the risk the schemes would fail.

Hello,

The introduction of Making Tax Digital for Income Tax (MTD for ITSA) for individuals has been postponed yet again. It will now commence on 6 April 2024. General partnerships will not be mandated to join until 2025. The date at which all other types of partnerships will be required to join will be confirmed later. The Financial Secretary to the Treasury, Lucy Frazer, made the announcement to parliament this morning.

  1. Are football referees employees? Court of Appeal lets FTT decide
  2. Nichola's SME Tax W-update 16 September 2021
  3. Nichola's SME Tax W-update 9 September 2021
  4. Ouch! NICs and Dividend Tax rises hit wider than first thought
  5. Build Back Better: the government's tax plans for Health & Social Care

 

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