Welcome

"An immensely useful resource"... "My only question is - why did we not subscribe before..." "Stunning" ...Read More Reviews

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.

Register to receive our FREE news update service.

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.

Hello

After a bit of a lull in tax news during the general election we are now going into overdrive. As usual we have cherry picked the best bits for SME advisers. I must apologise about the length of this time's edition, but stay with it: there are a lot of top tips, tax traps and tax cases reported this time which are worth a quick read through.

A community amateur sports club (CASC) is not a person under tax law, so it cannot be charged a tax penalty under section 98A TMA 1970. 

In Tim Healy v HMRC [2015] TC04425 an actor was unsuccessful in claiming tax relief for renting a flat when working away from home. His admission that he wanted a spare room to accommodate potential guests meant that the expense was not "wholly and exclusively incurred" for the purpose of his business.

Following reports that a recruitment company has been caught out promoting a scheme to abuse the Employer's NICs allowance. HMRC has published a new anti-avoidance Spotlight, "Employment Allowance Avoidance scheme - contrived arrangements caught by existing rules".

HMRC says that it will not challenge a self assessment late filing penalty in cases where the taxpayer has a reasonable excuse for not filing their tax return on time and has made an appeal.

Hello,

This time we look at a couple of tax penalty cases where companies have failed to realise that they have a requirement to file returns under the Annual Tax on Enveloped Dwellings (ATED) regime. We also look at directors' entitlement to redundancy pay.

  1. Can a sole director claim redundancy pay?
  2. Penalties: Annual Tax on Enveloped Dwellings (ATED)
  3. Nichola's SME Tax Update 19 May 2015
  4. Summer Budget for working people, announced by chancellor
  5. Employers: What's On - April 2015

 

Enjoying the Practical Tax content on www.rossmartin.co.uk? 

Sign up now to receive a unique FREE Tax Planning Tips and Advice Guide & our FREE Newsletter.

.Squirrel ad