- : Year 08, issue 04?issue=04&offset=2&volume=08

 
Dealing with assets when closing down a company Publication date: 26.08.2021
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You are closing a company which your client is the sole shareholder of. The company has some cash and a van. Would it be more efficient to sell the van from the company or transfer it to your client and have her sell it?
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Tax-free pensions advice Publication date: 26.08.2021
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One of your clients is keen to take advantage of the exemption for up to £500 of pensions advice for their employees, but they only want to offer it to those approaching retirement. How can your advice ensure the employees don’t end up with a tax bill?
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How to treat compensation payments? Publication date: 26.08.2021
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One of your clients will shortly receive a compensation payment in respect of an asset they own. They have heard that this might be taxable as a capital gain and have asked you to clarify the correct treatment. What do you advise?
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HMRC confirms workaround for CGT Publication date: 26.08.2021
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HMRC confirms workaround for CGT..Problem. A problem arises where there has been a return made using the UK Property Reporting Service in the relevant tax year. Where a UK-resident client makes a disposal of a UK residential property and there is likely to be tax to pay (based on the facts available at the time), they must report this to HMRC and make...
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Share HMRC’s warning page Publication date: 26.08.2021
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Share HMRC’s warning page..Update. In the July 2021 edition of its Agent Update (see Follow up ), HMRC encourages accountants and tax advisors to share its campaign page “Tax avoidance - don’t get caught out” (see Follow up ) with their clients. The page is essentially designed to simultaneously warn of the potential consequences of participating...
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Private residence relief for gardens and subsidiary buildings Publication date: 26.08.2021
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A client would like to sell a property that is set in substantial grounds with a number of outbuildings. It has been occupied as her only residence, but she is unsure whether private residence relief (PRR) will apply to the grounds and other buildings. What do you need to consider when advising?
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Will the new 12.5% VAT rate affect your clients? Publication date: 26.08.2021
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From 1 October 2021 a new VAT rate of 12.5% will apply to most sales made by a hospitality business. What does this mean for your clients either buying or selling these goods or services, and what VAT savings can be made?
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Trade and asset sale - tax free? Publication date: 26.08.2021
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A company client has received an offer for the sale of one of its trading subsidiaries, proposed as a trade and asset sale. As this would trigger a large tax bill for your client, is there a more tax-efficient corporate sale structure you could suggest?
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When is input tax non-deductible? Publication date: 05.02.2018
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Your business will incur input tax when it purchases goods and services. Being registered for VAT and making taxable supplies allows much of this to be reclaimed, but when are you prevented from recovery?
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Mehaffey Ltd v HMRC TC/2015/04906. Deliberate inaccuracy. Publication date: 05.02.2018
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Mehaffey Ltd v HMRC TC/2015/04906. Deliberate inaccuracy...The case. Mehaffery Ltd (M) appealed against a penalty for deliberate inaccuracies of £156,162.72 relating to EU supplies. HMRC concluded that M had not followed correct procedures, and had not kept the required evidence to show that the goods had been sold to a VAT-registered customer in the...
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