- : Year 07, issue 09?issue=09&offset=2&volume=07

 
Secondary threshold or personal allowance? Publication date: 08.03.2022
Article database
Secondary threshold or personal allowance?..Q. I am looking to optimise my salary for 2021/22. I am currently planning to vote £8,840 to my director’s loan account on 31 March 2022, as this is equal to the secondary NI threshold, and this produced the best result last year. I am the only shareholder and director of my business. There are no...
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Have I lost the relief for costs? Publication date: 08.03.2022
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Have I lost the relief for costs?..Q. I have been letting out two rooms in my house to student lodgers for several years. For 2021/22 I have increased the rent as I was being made redundant, and the total income will be over £7,500. Unfortunately, I haven’t been keeping receipts etc. so am I stuck paying tax on the gross rents? A. There is another...
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Postponed VAT accounting: practicalities Publication date: 21.01.2021
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Since 1 January 2021 your clients have been required to pay import VAT on goods brought into the UK from the EU. Postponed VAT accounting can help with cash flow, but what two key things must your clients do before they can use it?
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The effect of coronavirus on year-end planning Publication date: 21.01.2021
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The end of 2020/21 is in sight so it’s time to start thinking about your clients’ year-end planning exercise. However, in what areas might the “coronavirus effect” mean some additional thought is needed?
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Private residence relief: using case law to support claims Publication date: 21.01.2021
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Claims for private residence relief can become complex. Tribunal cases involving disputed claims are becoming more common. How can you use two recent cases to support a client’s claim for relief?
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How soon can your clients claim to deduct bad debts? Publication date: 21.01.2021
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One of your company clients is approaching its year end. Despite coronavirus, it expects to make a modest profit - but to have significantly increased bad debts in the accounts. What do they need to do before you can claim for these?
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Information notice penalty was unlawful Publication date: 21.01.2021
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A recent Tribunal case held that a penalty relating to an information notice issued by HMRC was unlawful after it tried to refresh the time limit for raising it. Why did the decision go the taxpayer’s way, and what should you look out for with your own clients?
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Advising clients on near-retirement pension planning Publication date: 21.01.2021
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The director of one of your company clients is approaching retirement and has asked for advice on the tax implications and benefits of making large pension contributions before retirement, as they have minimal savings. What are the key points to raise?
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Are your clients ready for the new reverse charge? Publication date: 21.01.2021
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After two previous delays, the new reverse charge for builders rules for construction services will take effect from 1 March 2021. What has changed in this third iteration of the rules, and what might benefit any affected clients?
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Welsh land tax rate changes Publication date: 21.01.2021
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Welsh land tax rate changes..Devolved. Land transaction tax (LTT) has been devolved to the Welsh government since 2018. LTT operates in a similar way to stamp duty land tax, but the rates and thresholds are different to reflect the generally lower land prices in Wales. Change 1. In December 2020 two changes were made to the LTT that you should make...
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