From 1 April 2023, companies with profits in excess of £50,000 will see their corporation tax liabilities increase. This also means that relievable expenses will be more valuable, so what
can clients look at to save as much as possible?
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Your client is sending an employee overseas for several months to complete a job. They have asked what the tax and NI position will be if they pay for family visits during this period. What do you
advise?
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It’s important that your clients do not charge or pay 20% VAT on their builder services instead of 5%, especially if input tax cannot be claimed. Which jobs qualify for the reduced rate and what are
the potential pitfalls?
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Your client occasionally provides entertainment to employees. They want advice to ensure they correctly report anything that is taxable, and to take advantage of any exemptions to minimise the
liability. What can you advise?
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New property not “main residence”..Cohen v HMRC. Mr Cohen (C) was a property investor. He purchased a property (A) which was in need of renovation. He lived in the property for ten days at the end of
August 2018. He paid a deposit for a new build property (B) at around the same time. He sold A to his parents in October 2018, and when he...
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HMRC ordered to close enquiries..Hitchens & Ors v HMRC. Mr Hitchens and two other taxpayers (collectively H) were subject to enquiries by HMRC in respect of offshore income. H and their advisors
had provided all of the evidence HMRC required, but the officer persisted with the enquiries for over eight years. Law. A taxpayer can make an application...
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The Budget scrapped the lifetime allowance for pension savings. But there were also further changes in the fine print for your clients to be aware of. What are the key points?
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Your client is a tenant in a block of flats. The leaseholders are buying the freehold of the building via a newly formed management company, but should they also extend their leases at the same time?
Are there tax issues if they do?
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One of your clients is planning to gift his daughter some valuable AIM shares. The daughter is planning to sell them quickly to raise funds. However, your client thinks there may be tax issues. Is
there a business property relief (BPR) issue here?
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Since 1 September 2019 you need to be aware of a rule change which affects how you use credit notes to account for price changes. How might the changes affect your business?
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