Article Database - Tips & Advice Tax: Year 20, issue 01

 
Don’t let business property relief disappear Publication date: 02.10.2019
Article database » Inheritance tax » Business property relief
Business property relief shelters the value of your business from the Taxman. The trouble is when you retire from your unincorporated business the relief disappears immediately. How can you preserve it?
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New review of loan charge announced Publication date: 02.10.2019
Article database » Anti-avoidance » Disguised remuneration
HMRC’s deadline for reporting disguised remuneration involving loans was April 2019. However, the government has ordered a new review. How might this affect you and your business?
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Selling your business - tax traps to avoid Publication date: 02.10.2019
Article database » Capital gains tax » Earn-outs
You’re selling your business and as part of the deal you’ll stay on in a managerial role for three years. You’ll then be paid an additional sum based on the profits made over that period. How should you structure the payment to avoid tax traps?
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Children, shares and long-term tax planning Publication date: 02.10.2019
Article database » Gifts » Children
Your long-term plan is for your children to take over the family company but they are far too young at the moment. Nevertheless, is it worth giving them shares in the business now as a tax-saving measure?
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Tax deductions for personally owned equipment Publication date: 02.10.2019
Article database » Capital allowances » Plant and Equipment
If you own IT or other equipment primarily for personal use you might also use it for work from time to time. Despite it being a personally owned asset, are you entitled to claim a tax deduction for it?
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Car leasing - how much VAT can you reclaim? Publication date: 02.10.2019
Article database » VAT » Input tax
With a few exceptions, reclaiming VAT paid on the purchase of a car is notoriously difficult. By comparison, the VAT position for leasing and similar contracts is more relaxed, but what exactly are you entitled to reclaim?
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Maximising terminal loss relief Publication date: 02.10.2019
Article database » Corporation tax » Losses
Your company has ceased trading. In the last couple of financial periods it has made losses. Taking account of the changes made to the rules for company losses in 2017, what tax relief is available?
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Changes to VAT MOSS - what’s the latest? Publication date: 02.10.2019
Article database » News » VAT
Changes to VAT MOSS - what’s the latest?..UK MOSS. Currently, if you sell digital services to customers in the EU and charge VAT you must account for it in one of two ways. Either by submitting returns to the tax authorities in EU states where your customers are or by making VAT MOSS returns to HMRC. After Brexit the second method will cease to be...
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Deadline for 2018/19 PAYE settlements Publication date: 02.10.2019
Article database » PAYE » PSA
Deadline for 2018/19 PAYE settlements..Employee benefits. If you’ve agreed to settle the tax bill for benefits provided in 2018/19 to your employees using a PAYE settlement agreement with HMRC, you must complete and submit details to it on Form PSA1 by 19 October 2019 (see The next step ). You must also pay the tax and Class 1B NI contributions by...
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Last updated: 11.10.2019
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