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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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Subscribe to UNLOCK the full site*.

Tax advice? Contact the Virtual Tax Partner® support service for advisers and their clients.

The contents of the site are subject to T & C & Copyright © 2021.

* The R&D & Patent Box zone is premium content and available separately.

Welcome to our Virtual Tax Partner ® Tax Tools and calculators.

These original tax diagnostic tools aim to help you solve some really complicated tax questions in a matter of minutes.

Each tool is designed to save you approximately two to six hours of time. They are written for non-experts.

Virtual Tax Partner Tax Tools: At a glance

Tax calculators

  • Self Employed profits
  • Salary v dividend
  • Low salary & dividend v dividend

Legislation checkers/calculators: 

  • BADR*: sole trader sale of business & asset disposals
  • BADR*: share disposals
  • BADR*: share disposals up to 2019
  • POS*: substantial reduction & connection tests
  • TAAR*: distributions on liquidation
  • SDLT*: buying a property with an annex

Step by step guides with templates & examples

  • R & D Zone
  • Reorganisations Zone*

You can buy all tools separately, the ones with a STAR* are included in a subscription to www.rossmartin.co.uk!

Once you have purchased see: How to access the tools? 

Click to learn more & purchase

What does it do?

 Quick access from list below
Income tax & NICS  
Self Employed tax* Calculates Income tax, Class 2 and Class 4 National Insurance Self Employment Calc
Salary v Dividend* Calculates income tax and National Insurance payable on a salary, compared to income tax & corporation tax paid on a dividend Salary v dividend: tax calc
Salary (low) & Dividend v Dividend* Calculates income tax, National Insurance and corporation tax payable on a range of salary sizes, plus dividend combination, compared to income tax & corporation tax paid on a dividend Salary or salary plus dividend combinations calc
     
Capital Gains Tax (CGT)  

Business Asset Disposal Relief:  business & asset disposals

Capital Gains Tax: this tool checks the Business Asset Disposal Relief qualifying conditions for the disposal of the whole or part of a business, or assets used by the business when it ceases.

 BADR Sole Trader
 

 Business Asset Disposal Relief : share disposals

CGT: this tool checks whether you meet the Business Asset Disposal Relief conditions for the disposal of your shares in a private company.

There are two versions of this tool: one for disposals on or after 6/4/2019, and one for disposals made in earlier tax years.

BADR Shares from 6/4/19

BADR Shares to 5/4/19
*Purchase of own shares* (POS) Company purchase of own shares, use this tool to work out the results of the substantial reduction & connectons tests for full purchase or phased buy-back. Purchase of own shares (POS)
 

* TAAR* tool for distributions

CGT/Income Tax: will you trigger the Targeted Anti-Avoidance Rule (TAAR) on a distribution made in respect of shares on winding up a company?

  TAAR Tool
Stamp Duty Land Tax (SDLT)  
*SDLT *Multiple Dwellings & Annexes

Stamp Duty Land Tax (SDLT: if you are buying two or more properties in a single transaction use this tool to see if you meet the qualifying conditions and you may be able to claim both Multiple Dwellings Relief and relief from the Higher Rate Charge

 SDLT MDR Annex Tool
Corporation tax: Research & Development reliefs  
R & D Zone

R&D Zone provides the tools to help you work through and make your own R&D claim directly with HMRC.

If DIY is not your thing, why not sub-contract the problem (it will be financially advantageous) via the Virtual Tax Partner support service at super-discounted rates.

 R & D Zone 
Companies & shareholders: CGT, Corporation Tax, Income Tax, Stamp Duty  
 *Reorganisations*

 

These tools help company owners to resolve difficult company problems and then provide worked-through case studies, with step-by-step analysis and tax clearance templates. These cover 7 different company reorganisation situations:

  • Case Study 1: Tradeco, demerger of two trades
  • Case Study 2: Tradeco, demerger of its investment business
  • Case Study 3: Tradeco demerger of investment subsidiary
  • Case Study 4: Investco: Demerger of trading subsidiary
  • Case Study 5: Management Buyout via newholdco
  • Case Study 6: POS, buyout retiring shareholder
  • Case Study 7: Creating a group

 

 Reorganisations
VAT  
VAT Penalties When does the new (points based) late filing and penalty system apply to you? VAT penalty checker
VAT Making Tax Digital When does a VAT registered business have to join MTD for VAT VAT MTD start checker

 

* Starred* tools come FREE if you are already a full subscriber to the www.rossmartin.co.uk webservice.

Any guides on this site as well as the tools in the our Tax Toolkit above can be purchased on their own, with or without a subscription to www.rossmartin.co.uk, on a Pay-As-You-Go basis. 

If you are a tax novice, or not very confident in some areas of tax, all Tax Tools all work best with a www.rossmartin.co.uk subscription as then receive the full benefit of all interactive guidance.

To buy a tool: follow the link above (left-hand column)

Any queries? Contact us:

  • For multi-office pricing
  • For any enquiries or suggestions

  

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Happy New Year everyone,

We hope that you all had a relaxing break. Although we are starting 2021 in our third national lockdown, we hope to provide you with as much support and assistance as we can.

In January 2021 the Chancellor announced a new £4.6bn package of support for the retail, hospitality and leisure sectors. Businesses forced to close due the latest Coronavirus lockdown will be able to access grants of up to £9,000 per property.

Hello

As a frightful year comes to a close, I hope you enjoy some of our seasonal content in this our 2020 Tax Annual bumper edition.

The Chancellor, Rishi Sunak, has announced that Budget 2021 will be held on 3 March 2021.

Hello

This week we have a new Agent and Trusts update, along with updates on a range of other guides; however, as it is tax return time, we also revisit some old classics. We review some tribunal decisions which illustrate just why you need to be extremely careful with dates and deadlines in tax.

  1. Nichola's SME Tax W-update 10 December 2020
  2. 100% FYA extension for zero emission cars
  3. Employer Bulletin: December 2020
  4. Nichola's SME tax W-update 3 December 2020
  5. SME Tax Monthly Summary Nov 2020

 

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