Hello

We have some stunning new content this week for you, including new online calculators and indispensable new tax planning guides. We also have another HMRC Agent Update, we have two IR35 appeals and the curious case in which HMRC was unable to make a discovery assessment because the agent filing the tax return was not authorised by the taxpayer.

For subscribers, I am really pleased to be able to launch yet another of our ‘new generation’ of online tax calculators. Want to pay a salary or a dividend or some kind of combination? What happens if you claim the Employers’ Allowance or not? Want to instantly know what is best to do with your profit? Our first batch of new calculators are aimed at company owners and the self employed, and they are included at no extra cost with our subscription package. They will save you hours and hours of time calculating the Income Tax and National Insurance liabilities in a range of scenarios.

Also this week we bring you our new season 2022-2023 guides for directors, including our 'Directors' Tax Planning Toolkit',  and for early birds, our guide to what's new in preparing the 2022 tax return.

More guides and updates below. New online CPD lectures are in progress.

Back soon, 

Nichola Ross Martin FCA CTA (Fellow)
Tax Director

www.rossmartin.co.uk

Your Virtual Tax Partner® online PRACTICAL support for accountants, tax advisers BY accountants and tax advisers.

Quick News (Freeview) 

Agent update: April 2022 
HMRC have issued their Agent Update for April 2022. We have summarised the key content for you with links to our detailed guidance on the topics covered. 

Consultation on Income Tax for low-income trusts and estates
HMRC have opened a new consultation ‘Income tax: Low-income trusts and estates’ which considers whether trusts and estates with small amounts of income should be removed from Income Tax.

Elite fraud squad to track COVID lost billions
£25 million will be spent on a new Public Sector Fraud Authority (PSFA) taskforce that will enlist an elite team of experts to crack down on fraudsters who took advantage of the government's Covid support schemes.

COVID-19 Grant funding for business
30 April 2022 is the deadline for applications for the COVID-19 Film and TV Production Restart Scheme.

Editor's Pick (subscribers)

Tax Calcs
NEW: Our tax calculators instantly calculate income tax on any combination of salary v. dividend v. salary +dividend, claim the Employer's Allowance or not. We also have a self employed tax calculator and a day counter.

Do I pay a salary or dividend? 2022/23 
NEW: This guide explores the tax-planning points and pitfalls of using dividends to create a tax-efficient pay package.

Tax-efficient extraction of profits: Toolkit (2022/23)
This toolkit is designed to help a company and its owner decide how company profits are to be extracted. 

Directors: Tax planning toolkit for 2022/23
NEW: This planner for the new tax year looks at a range of director tax issues, including company profit extraction.

Overseas & Residence 

Business Investment Relief
UPDATE: Non-statutory clearance address for advanced assurance of qualification updated.

Employers 

Auto-enrolment: Workplace pensions (subscriber guide)
UPDATE: This guide looks at the key features of auto-enrolment, who is affected, what employers need to do, and the relevant timescales.

Private Client & Estate Planning  

2021/22 Self Assessment tax return toolkit 
NEW: A tax return toolkit for the year ending 5 April 2022. 

Savings income: How interest is taxed
UPDATE: What is savings income? How is savings income taxed? What allowances are available? 

Tax Cases (freeview)

No discovery due to unauthorised agent  
In Shaun McCumiskey v HMRC [2022] TC08459, the First Tier Tribunal (FTT) upheld the appeal against a discovery assessment regarding a fraudulent SEIS claim made by a sub-agent, deciding that as the appellant had not authorised the sub-agent, they were not acting on his behalf, and as such the discovery conditions were not met

Kaye Adams: IR35 rules outfox Upper Tribunal
In HMRC v Atholl House Productions Limited [2022] EWCA Civ 501, the Court of Appeal (COA) remitted the appeal to the Upper Tribunal (UT) to reconsider. The First Tier Tribunal (FTT) and UT had erred in considering the terms of the contractual relationship and in applying the relevant case law.

TalkSPORT presenter’s IR35 appeal kicked out
In Kickabout Productions Limited v HMRC [2022] EWCA Civ 502, the Court of Appeal agreed that a TalkSPORT presenter was an employee subject to IR35. There was sufficient mutuality of obligation and control and any other factors considered added little to the case.

VAT Cases & Guides 

Cars & Vans: VAT
UPDATE: What is a car for VAT? What is a van for VAT? What VAT can be recovered on a car that is bought? Leased? What about fuel? Or mileage reimbursements? 

Tax Tools 

Tax Tools
Be a winner with our game-changing tax diagnostics tools for Business Asset Disposal Relief, SDLT & annexes/subsidiary properties, Company reorganisations, R & D Zone and TAAR on winding up. Sign up now!

Tax Queries?

Virtual Tax Partner© Support
Have a tax query? Need a second option? Open a ticket and ask a question. A team of tax experts with a very wide range of expertise: covering direct and indirect tax, as well as accounting, R&D claims, reorganisations and much more. 

CPD for lunch 

Byte-sized chunks of CPD for subscribers

More at CPD Index

Missed last time's Web-update?

Nichola's SME Tax W-update 21 April 2022

  • Employer Bulletin: April 2022 
  • Consultation response: Corporate re-domiciliation 
  • Concerns over Welsh Tax Act proposals
  • Fuel scale charges (VAT)
  • Finance Act 2020 changes not retrospective for Top Slicing Relief  
  • Partial exemption: standard method replaced 
  • Partial exemption & input VAT
  • Margin scheme
  • Input VAT: What constitutes a valid claim (& VAT invoice)
  • Sole trader v. limited company: Tax differences & savings (2022/23)
  • Basis Period reform
  • Insolvency FAQs for boards
  • Theatre Tax Relief: Tax relief for theatrical productions
  • Groups
  • Non-Domiciles Tax Toolkit
  • Payrolling of benefits
  • Dividend tax (subscriber guide) ...More 

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