- : Year 11, issue 03

 
Change to refund claim process Publication date: 19.06.2024
Article database
The construction industry scheme (CIS) requires contractors to withhold tax from subcontractors. As this is at a flat percentage, overpayments are common. How has HMRC’s refund process changed recently?
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Moving property to a holding company: tax implications Publication date: 19.06.2024
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One of your clients has recently put a holding company in place for asset protection purposes and is about to transfer a trading premises to it. What price should the transfer take place at, and what taxes do you need to consider?
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How can clients side-step the OpRA rules? Publication date: 19.06.2024
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The optional remuneration arrangement (OpRA) rules have been around for several years. They aim to cancel the tax and NI advantages offered by salary sacrifice schemes. But how can clients still secure these advantages for their employees?
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Ending a trust tax efficiently Publication date: 19.06.2024
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Your client has had a discretionary trust for their children for many years. They are now adults, and following a ten-year charge the client wants to end the trust and distribute the assets to each of them. How can this be done without triggering a tax trap?
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VAT planning around registration Publication date: 19.06.2024
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One of your clients has left their job to start a new business and has asked you if they should register for VAT now, or wait until they have exceeded the compulsory registration threshold. What are the key issues to consider before reaching a decision?
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Was director’s loan correctly written off? Publication date: 19.06.2024
Article database
Was director’s loan correctly written off?..Plumpton v HMRC. Mr Plumpton (P) was a director and shareholder in a close company. His director’s loan account (DLA) had been overdrawn and the company had paid the s.455 charge accordingly. The company later submitted a claim to recover this on the basis that the outstanding amount had been written off...
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Can tribunal force HMRC to accept late claim? Publication date: 19.06.2024
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Can tribunal force HMRC to accept late claim?..Kalay v HMRC. Mr Kalay (K) purchased shares in a company in 2013. In 2020 he sold them, realising a significant gain. He claimed that enterprise investment scheme (EIS) disposal relief should apply. HMRC rejected the claim as K had not made a claim for income tax relief. K submitted a late claim but HMRC...
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What’s new for P11D filing? Publication date: 19.06.2024
Article database
You’ve been asked to help some of your clients with P11D reporting for the first time in several years. What recent change do you need to be aware of, and why might a change to your clients’ reporting going forward be useful?
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Should Scottish clients relocate? Publication date: 19.06.2024
Article database
In 2024/25, Scotland has a six-tiered income tax rate system with a top rate of 48%. Will Scottish taxpayers be significantly worse off, and what other factors do clients need to consider if they are looking at relocating?
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HMRC launches payment deferral scheme Publication date: 22.12.2020
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If your business deferred some VAT in 2020 due to coronavirus, you might be bracing to pay it back by 31 March 2021. How can a new VAT payment scheme help?
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