- : Year 09, issue 01

 
Paying more than HMRC’s advisory rates Publication date: 20.04.2022
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HMRC recently updated its advisory fuel rates for company cars. However, the new rates don’t even come close to reflecting the current pump prices. What can you advise clients on how to pay employees a more realistic rate?
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Advising clients on tax-efficient share investments Publication date: 20.04.2022
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A client has enjoyed a windfall and wants to make some tax-efficient investments. They are asking for some advice on the tax breaks offered by investing in either enterprise investment scheme (EIS) or venture capital trust (VCT) shares. What are the key differences?
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Taxpayer wins tribunal case involving “duality of purpose” Publication date: 20.04.2022
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One of your clients has a number of entries for legal fees paid from the business bank account. You are concerned that these may not be deductible if they relate to individuals, rather than the business. How might a recent Tribunal decision help here?
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£6 million settlement was taxable Publication date: 20.04.2022
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£6 million settlement was taxable..Mathur v HMRC. The taxpayer, M, worked for a bank. Her employment was terminated following alleged misconduct. M started employment tribunal proceedings but accepted a settlement of £6 million after mediation. PAYE was applied to all but the first £30,000. The taxpayer appealed on the basis that the payment was...
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How do the NI changes affect 2022/23 planning? Publication date: 20.04.2022
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The 2022 Spring Statement increased the NI threshold, however the way this has been done is not straightforward. How does the change affect small company clients’ profit extraction planning for 2022/23?
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FRS changes for imported goods? Publication date: 20.04.2022
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If you have clients that use the flat rate scheme (FRS) and import goods under postponed VAT accounting you will need to inform them of crucial changes to their VAT reporting from 1 June 2022. What is changing, and what else do you need to advise them of?
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Tax on termination payments Publication date: 20.04.2022
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One of your clients has suffered a significant downturn in trade and they have taken the difficult decision to make a number of staff redundant. What are the key points regarding termination payments?
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Income debits were deductible Publication date: 20.04.2022
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Income debits were deductible..HMRC v NCL Investments Ltd & Anor. The taxpayer, N, used an employee benefit trust to provide shares in a holding company to employees. Under the share scheme, the employees paid to acquire share options at fair value. The balance was paid to the holding company on a monthly basis. N prepared its accounts and claimed...
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HMRC clarifies its view on multiple completion buybacks Publication date: 20.04.2022
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A purchase of own shares carried out with multiple completion stages is often a neat solution for a shareholder exit when cash flow is tight. But how could a recent change of view by HMRC affect your clients and what alternative could you suggest?
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How to avoid a MOSS registration for digital services Publication date: 06.11.2018
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Having to register under the VAT mini one stop shop (MOSS) can be an administrative burden for any small business. How can using a simple trick mean you can avoid it?
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