Missed our SME Tax Web-updates in July? Here is a summary of the month.

Nichola's SME Tax W-update 29 July 2021

Freeview

  • Responses to clampdown on tax avoidance promoters consultation  
  • HMRC tool: Check if you might need to pay Inheritance Tax
  • Responses to stamp taxes call for evidence
  • Women in Finance Charter: Five-year review
  • Working from home: Update 
  • HMRC give clarity on employment status within the entertainment industry  
  • Claim for relief on offshore trust distributions is out of time 
  • Schedule 36 appeal does not extend to underlying tax issue 
  • VAT group membership cannot be backdated 
  • VAT best judgement assessments upheld by UT  

Subscriber CPD/specials

  • Private client: What’s on? July 2021
  • Freeports: tax breaks 
  • SRT: Statutory Residence Test
  • Motor expenses (self-employed)
  • Creating an office at home or in your garden
  • Loan relationships
  • Valuation: Companies
  • Employment status & detailed checklist
  • Employers' NICs allowance
  • ISA guide

Read More...


Nichola's SME Tax W-update 22 July 2021

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  • Finance Bill 2022
  • Agent update: July 2021
  • Consultation: Income Tax Basis Period reform 
  • New £375m Future Fund open to R&D companies 
  • Third-party information notice hearing must remain private
  • Upper Tribunal upholds £1 million NIC liability on bonus payments
  • Failure to notify VAT option to tax not acceptable
  • VAT and value shifting: Summary of responses
  • GAAR Panel concludes loan arrangements unreasonable course of action 
  • HMRC focuses on debt as winding-up moratorium ends 

Subscriber CPD/specials

  • Capital allowances: What's new 2021 
  • Directors' Tax Planning Toolkit 2021-22
  • Ceasing trading: What are your options?
  • Top Slicing Relief: How you slice it
  • Tax Returns: To-do list before/after 5 April 2021
  • SDLT: First-time buyers' guide to Stamp Duty Land Tax
  • NEW CPD: Agricultural Property Relief
  • NEW CPD: IHT: Transferable Nil Rate Band

Read More...


Nichola's SME Tax W-update 15 July 2021

Freeview

  • Another consultation on Probate Fees
  • Consultations on UK's future listings regime
  • CGT: HMRC issue FAQs on UK property reporting service
  • Capital Reduction Index: (Freeview)
  • FTT determines value of shares  
  • Lack of awareness of High-Income Child Benefit Charge is not a reasonable excuse
  • Sour taste to Candy’s £48m SDLT amendment
  • No FTT error; no qualifying annexe, no MDR  
  • EU Advocate General rules that VAT deductions require a VAT invoice 
  • Sole director personally liable for VAT penalties

Subscriber CPD/specials

  • What constitutes a valid VAT invoice?
  • Disposal values & rules
  • Losses, trading and sideways
  • Leaving payments and directors
  • Valuation: Companies 
  • Construction Industry Scheme Penalties
  • Investment bonds: A tax guide
  • Pensions: Tax rules and planning

Read More...


Nichola's SME Tax W-update 8 July 2021

Freeview

  • SDLT: End of the holiday
  • When to amend tax returns for SEISS: HMRC guidance
  • Companies: Claim form for extended loss carryback
  • Non-domicile loan collateral: HMRC changes guidance on remittance
  • Poll Result: Should we change the tax year-end?
  • Farm property renovation: Capital, not revenue
  • Trapped in a tax investigation
  • MVD: New points-based penalties system
  • Receipt of subsidies did not restrict VAT recovery 

Subscriber CPD/specials

  •  Students & Tax
  • High-Income Child Benefit Tax Charge
  • Interest paid to directors and individuals
  • SEIS & EIS: Share issue checklist
  • Salary sacrifice & optional remuneration schemes (OPRA)
  • Trusts & Estates: Ten-year charge reporting requirements 
  • Advisers guide to Property Profits & Losses
  • CPD: Trading Loss Relief: Individual                                                                              

    Read More...


Nichola's SME Tax Update 1 July 2021

Freeview

  • Investigations into COVID-19 support schemes: 12k and counting
  • September enforcement deadline for bad debt collection
  • COVID-related tax fraud costs us billions says PAC
  • New Checklist for making Statutory Clearance applications
  • CGT: reporting & payment
  • An Index to Reorganisations, Demergers & Share transactions 
  • HICBC is not income under the Discovery rules
  • Costs of claiming against an employer are not taxable earnings
  • COVID-19: Option to tax deadline extended
  • R & C Brief 10 (2021): Repayment of VAT to overseas businesses not established in the EU and not VAT registered in the UK 

Subscriber CPD/specials

  • New build: no planning permission no VAT zero-rating
  • Reorganisations & Reconstructions
  • MTD: Toolkit for accountants
  • Employer's What's On: June 2021
  • An index to Capital Gains Tax reliefs
  • NEW: CPD: VAT: Land and Property

Read More...

Missed last time's monthly web-update? Get it here...

SME Monthly Summary June 2021


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