Our 2023 range of Practical Tax Year-End and Accounting checklists cover individuals, in their private capacity and their business interests. They make essential reading for any business owner or adviser.

Hello,

Everyone that I have spoken to in the last couple of weeks has said that January has seemed busier than usual. Comparing notes, some of you have reflected that this was due to the knock-on effects of Covid, with many businesses and their owners struggling to get back to normality due to the combination of supply-side shortages, recruitment issues, and owner and staff sickness. Now that Self Assessment returns are all filed, there is, however, little time for introspection: it's time to start planning for the tax year-end. What do you need to consider?

Hello,

With so much news coverage on the former Chancellor of the Exchequer Nadhim Zahawi's tax settlement, we have created a case study, based loosely on the known facts of his tax penalty, to illustrate how tax-geared penalties are calculated and what might count as a 'reasonable excuse' for making an error on a tax return. We have also included some suggestions as to how, with the benefit of hindsight, penalties could be avoided.

A worked example of how HMRC might calculate penalties for undeclared offshore income.   How would HMRC calculate penalties in such a scenario? With the benefit of hindsight, what can be done to mitigate penalties?

In S&L Barnes Limited v HMRC [2023] TC08697, the First Tier Tribunal (FTT) applied the tests from Ready Mixed Concrete and found that Stuart Barnes provided his rugby punditry services to Sky as part of his own business, not as an employee.