- : Year 11, issue 01

 
Are clients using payback and clawback rules? Publication date: 01.05.2024
Article database
The decision to claim or not claim input tax usually depends on the business purpose and intended use of the expense when it is incurred. The payback and clawback rules are an exception where your clients might need to claim or repay input tax to HMRC on a future return. What should you advise them to be aware of?
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Did paddock mean property had “mixed usage”? Publication date: 01.05.2024
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Did paddock mean property had “mixed usage”?..Case. Harjono and Santoso (H&S) bought a converted barn with a paddock and paid stamp duty land tax (SDLT) at the “mixed use” rates on the basis that the paddock was used for commercial purposes, namely a grazing agreement. HMRC disagreed and imposed the (more expensive) rates applying to residential...
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Was coronavirus scheme assessment valid? Publication date: 01.05.2024
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Was coronavirus scheme assessment valid?..Case. Mr Ellis (E) incorporated a business he had operated as a sole trade. He mistakenly claimed under the self-employment income support scheme (SEISS), and HMRC issued an assessment to recover this. Law. Entitlement to support under the SEISS was dependent on an individual being self-employed during a prescribed...
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New guidance on penalties for volunteers Publication date: 01.05.2024
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Making Tax Digital for Income Tax Self Assessment is still two years away, but some of your clients may have signed up early on a voluntary basis. HMRC has now published guidance regarding how these testers will be subject to penalties. What are the key points?
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HICBC charge eased, but not scrapped Publication date: 01.05.2024
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In the 2024 Spring Budget, the Chancellor raised the thresholds and scaled back the taper rate for the high income child benefit charge (HICBC). What does this add up to for your clients, and should they consider restarting a claim?
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Loss restrictions after a change of ownership Publication date: 01.05.2024
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Your client has an opportunity to acquire a company that has been loss-making for some time, with a view to reviving it. He wants to know if usage of the company’s losses will be restricted. What can you advise?
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Tribunal considers CGT relief claim by trustees Publication date: 01.05.2024
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Business asset disposal relief (BADR) can be claimed by trustees as well as individual taxpayers. However, as with most trust-related tax matters, there are additional considerations. What did a recent Tribunal case consider in this area?
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Do clients have to operate pensions for seasonal staff? Publication date: 01.05.2024
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According to The Pensions Regulator, some employers who take on seasonal or other temporary workers aren’t following the workplace pension rules correctly. If your clients are hiring short-term workers what steps should they be taking?
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New letting business: is a company worth using? Publication date: 01.05.2024
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One of your clients has inherited a considerable amount of cash, and wants to invest in properties to let out. She has considered buying these through a company, but isn’t sure of any tax advantages. If she opts to buy the properties personally, could forming a company still help in a different way?
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VAT on EU purchases: what’s happening next year? Publication date: 29.10.2020
Article database
You make a lot of business visits to an EU country and have purchased some equipment that will be used there. The supplier charges 23% domestic VAT. Can it be reclaimed after the end of the transitional period in December 2020?
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