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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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Rangers wins its 'big tax case', its EBT appeal. Loans made to players were genuine loans.

Good morning

Well to be honest I am slightly gutted to find that even the Arctic Monkey's took part in a tax avoidance scheme (the Liberty scheme, as leaked by the Times), but I doubt that the effect of the newspapers naming and shaming celebrities will have any effect on downloads by my teenage daugher and her friends. What will change future tax compliance is HMRC's new Accelerated Payment regime. This is expected to be a 'game changer' in the words of Jim Harra, HMRC's Director General of Business Tax.

If salaried members of LLPs have agreed to increase their capital contribution in order to disapply the new Finance Act 2014 rules, they must pay by 5 July or be treated as employees. 

A speculative landfill and land consultancy counts as a business for capital gains tax (CGT) section 162 incorporation relief.

HMRC produce a helpcard for companies who are Construction Industry Scheme (CIS) subcontractors together with its Top Ten tips in making a successful repayment claim from HMRC.

HMRC has started sending out P800s as part of the 2013/14 end-of-year reconciliation process for individuals in PAYE. This compares the tax paid with the tax which is due, according to the information on HMRC’s records. All P800s should be checked for accuracy.

  1. Fines: No tax relief allowed on non-statutory fines
  2. Nichola's SME Tax w-update 17 June 2014
  3. Mansworth v Jelley loss claims
  4. Nichola's SME Tax W-update 5 June 2014
  5. HMRC's definition of 'reasonable excuse': too narrow

 

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