HMRC is increasingly raising robust challenges to goodwill valuations provided by practitioners in respect of sole trader/partnership incorporations. If your client is in the firing line, how should
you respond?
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Service sector under scrutiny.. HMRC is increasingly looking at the service sector in relation to worker reclassification both in terms of whether “self-employed” subcontractors are direct employees
or an employment intermediary (“EI2) under s.44 ITEPA 2003 . HMRC has established dedicated units looking at out of hours doctors; car valeting; drivers;...
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Most enquiries will, at some stage, involve HMRC asking for a meeting. What should you and your client do? Should you agree to meet and if so, at what stage could it be most beneficial?
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You’ve just taken a frantic call from a client - HMRC is at the door demanding to come in and “check the VAT records”. Why has your client been selected for a visit and what should be your advice to
them?
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Q &A - rent-a-room exemption..Q. I’ve been renting a room in my house to a lodger for a few years. I’ve never declared this income to HMRC because I know it’s less than the £4,250 exemption. I
have heard that it might be worth me disapplying this if I’m making a loss. Is this correct? I have other let properties. A. It could be worth your...
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A director’s loan account is a record of transactions between you and your company. It’s important to keep track of these as there can be tax charges if you owe it money. How can our director’s
loan account template help you avoid them?
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Q &A - requesting closure of an enquiry..Q. I’ve reclaimed VAT on fuel used for employees’ business trips based on their expenses claims. Do I need garage receipts to back these up? A. Receipts
should always be kept to provide evidence that costs have been incurred, but for VAT it’s important to get the right type of evidence. In order to...
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Where your business provides pool cars for staff to make business journeys HMRC will usually try to show that a benefit in kind charge applies. How can our pool car status document help you counter
HMRC’s claim?
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As a registered business you can reclaim VAT on fuel costs incurred by you and your employees on business travel. There are three methods of calculating this and naturally you’ll want to use the one
that maximises your claim. How can our calculator help?
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