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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 Department for Work and Pensions (DWP) and Home Office 2020-21 accounts reveal that their failure to test employment status of workers and to apply the public sector Off-Payroll Working rules cost them £117m. HM Revenue & Customs (HMRC) also charged the Home Office a 4million penalty for error. This was later suspended.

HMRC have released notes from their Wealthy External Forum conference call which covered the conclusions to their research into the use of Family Investment Companies. The research was undertaken with a view to better supporting taxpayers understand and comply with their tax obligations.

Hello,

This week we briefly stray away from tax to summarise the government’s five-year review of the Women in Finance Charter as it’s such an important topic. Although more women are being employed at the executive and board level than in 2016, with an average 50% increase, the review estimates that it is still going to take until 2033 for financial services to achieve gender parity. On the government’s timetable, we will all be driving electric cars before there is a gender balance in financial institutions.

HMRC have released a new tool ‘Check if you might need to pay Inheritance Tax’ to allow those dealing with deceased estates to work out the approximate value of the estate to help decide whether any Inheritance Tax (IHT) is likely to be due or not.

Hello,

This time we report on HMRC's proposals on reforming the tax basis year provisions, we review the other draft proposals for the next Finance Bill, there is another Agent Update and news of a new R&D fund, and for subscribers, a very timely 'What's new' for Capital Allowances.

A set of draft legislation, together with policy papers and consultations were published on 20 July 2021, for inclusion in Finance Bill 2021-22. These are our edited highlights of the proposed new legislation.

  1. Nichola's SME Tax W-update 15 July 2021
  2. Another consultation on Probate Fees
  3. Nichola's SME Tax W-update 8 July 2021
  4. Poll Result: Should we change the tax year-end?
  5. When to amend tax returns for SEISS: HMRC guidance

 

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