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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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The government department, Business Innovation & Skills (BIS) has published a response to a consultation document relating to greater transparency and trust in UK business and included a proposal to prohibit corporate membership of LLPs.

Hello

A short Web-update this week, but there is a lot packed into it. Of great interest is the result in the Wildin case. This concerned a capital gains tax dispute over the method of valuing a small accountancy practice.

The case of Graham Michael Wildin v HMRC [2014] TC03586, involved a dispute on the correct method for valuing goodwill in an accountancy practice. HMRC favoured an assets-basis and the accountant, the appellant, a multiple of Gross Recurring Fees (GRF).

As part of the ground breaking tax agreement between the UK and Switzerland, Swiss banks will inform HMRC by May 31st of the top 10 destinations to which money removed from suspect bank accounts in Switzerland has been sent, says Pinsent Masons, the international law firm.

Hello

This week we have an interesting new guide: the DIY Small Self-Administered Scheme (SSAS). This will be of great interest to owner managers, so read on for links.

Hello

In this update can I draw your attention to an issue that may well affect a lot of directors: the PAYE implications of allowing the company to make improvements to a home so that it may run its business from there.

  1. HMRC Direct Recovery of Debts: a 'terrifying' prospect
  2. Wrong PAYE code? Email HMRC
  3. Swiss sign up to end banking secrecy
  4. Filing VAT by telephone
  5. Nichola's SME Tax W-update 29 April 2014

 

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