Welcome 

This is a Practical Tax Database - your online tax partner. This web-service aims to answer your key tax FAQs and is packed with useful and practical tax and business know-how, tools, examples and checklists. 

Register to receive our FREE news update service, Subscribe to UNLOCK all the content. Our Terms & Conditions  apply to you if you use our material.

Check out our sister site: Virtual Tax Partner® support service for advisers and their clients.

"We find it a really useful tool for day to day reference and appreciate the plain English terminology that a lot of other sites seem to miss! Keep up the good work"..."An immensely useful resource"... "My only question is - why did we not subscribe before..." "Stunning" ...Read More Reviews

Hello

Following research and consultation, HMRC is consulting on new proposals for tackling PAYE non-compliance by ‘Umbrella companies’. Quite why we need more new rules when we could surely just sweep up any stragglers by broadening the Agency rules in Chapter 7 Part 2 ITEPA 2003 is beyond me. We will keep following the consultations for you and see what comes out.

Hello

There is news that the EU is going to introduce a new €7 visitor fee, yet another thing to slow us down at its borders! It has got me wondering just how long it will be before a British government can't resist a similar measure. In terms of administration, surely all anyone needs is a secure QR code at the border?

Hello

We have a diverse collection of news items for you this week. We pondered as to whether your average SME owner or adviser would be interested in 'Tonnage Tax'. At least one of us had seen this apply to a client of a small practice and we concluded that as this is something of a rarity: a new election to apply this tax, it was better to mention it than to stay silent on the matter.

HMRC is urging employees that they can claim for employment-related expenses directly from the Gov.uk website each year. Currently 70% of claimants are using repayment agents, who often take a hefty cut of any tax refund due.

The Institute of Chartered Accountants in England & Wales (ICAEW) is moving away from the Continuing Professional Development (CPD) 'output-based' model, where members self-assess their needs to complete an amount of CPD appropriate to their role, to a model which sets a minimum number of hours including a minimum number of hours that are 'verifiable' depending on your role as an accountant.

HMRC have released statistics showing an increase in the number and amount of investments made under the Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS) and Social Investment Tax Relief (SITR) scheme. 

  1. Nichola's SME Tax W-update 18 May 2023
  2. Nichola's SME Tax W-update 11 May 2023
  3. Nichola's SME Tax W-update 4 May 2023
  4. Nichola's SME Tax W-update 27 April 2023
  5. Nichola's SME Tax W-update 20 April 2023

 

We hope you are enjoying this amazing Practical Tax Database here at www.rossmartin.co.uk.

Sign up now to receive our unique FREE Newsletter full of Tax Planning Tips & Know-How.

.Squirrel ad