The employment allowance is increasing from £2,000 to £3,000 from 6 April 2016. However, restrictions are being placed on its availability. Who will this affect, and is there any advice you can give
your clients so they don’t miss out?
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Some organisations (such as universities) which provide educational services are exempt from having to charge VAT. What about your clients who offer private tuition? Can they claim the exemption too?
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A client has just told you that he has agreed with his company to work as a consultant on a freelance basis. Naturally you’re concerned about a possible challenge to his employment status by HMRC.
What tactics can you use to protect him from this?
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Too late to code out tax liability..Misunderstanding. In P Christovic v HMRC [2016] TC04854 , the taxpayer had filed his return for 2013/14 in January 2015 (on time). He had ticked the appropriate
box to have his tax liability coded out. However, he was unaware that the return needed to have been filed by 30 December 2014 to do this. Penalty. He was...
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From 6 April 2016, changes to the transactions in securities rules and new anti-avoidance provisions make it harder for certain company owners to extract funds as capital rather than income. How will
these changes affect your advice on distributions?
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The run up to Budget 2016 was very low key, but it actually turned out to be one of the most interesting in recent years. Why will the capital gains tax (CGT) announcements be of particular interest
to your clients?
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It’s estimated that £60 billion in notes and coins is in circulation in the UK. But HMRC reckons much of it is hidden. With its attention shifting to cash-based transactions, should your clients be
worried?
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VAT rule reversed for property transfers.. VAT exempt. HMRC has changed its policy in situations where a non-residential property rental business is transferred to a new owner. In a recent statement
HMRC accepts the tax tribunal’s view that where the transferor retains a small interest in the property, e.g. a head lease with little value, this will...
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Taxman updates app.. Update available. HMRC has recently updated its Tax calc program which can be accessed online or downloaded as an app for most smartphones, tablets, etc. If you had automatic
updates set for your device, the new version should already be installed. What’s new? The latest version lets you enter your tax code so you’ll receive...
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If you believe that you’ve been mis-advised or had your case handled badly, but the Taxman refuses to accept this, is it the end of the line for your complaint? What further steps can you take to get
justice and perhaps some compensation?
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