The following caught my attention today: Growing businesses to benefit from expert tax support A new service to directly help mid-sized businesses as they expand and grow, has been launched today by HM Revenue and Customs (HMRC). There are around 170,000 mid-sized businesses registered in the UK. Businesses with either a turnover of more than… Continue reading Are HMRC setting up as tax advisors?
There is a temptation when speaking with clients to confuse information with advice. A client may open-up over a pint or glass of wine, telling you about a problem that they may have. The problem may be one that you have dealt with many times before, with other clients, and before you realise what you… Continue reading Hasty opinions – lost fees
Welcome back. Summer holidays are over for most of us, perhaps a half-term break to look forward to, and then Christmas, and then January! I rested my daily/weekly blog posts for most of August and invested time researching the GDPR. Next year, the end of January will bring short relief, as the need to comply with… Continue reading Back to school already?
I have found a really useful page on the GOV.uk site that displays a fairly comprehensive list of “connected persons” definitions. I have reproduced in full below. The relevant page is here. Appendix 19: connected persons – rules and definitions for taxation purposes The Valuation Office Agency’s (VOA) technical manual used to assess Capital Gains… Continue reading Connected persons
I have now produced a client information video regarding the current state of play of the MTDfB changes announced late last month. The video has a professionally recorded sound track, animated text and graphics, and provides a short but clear explanation of the revised roll-out from April 2019. Feedback has been encouraging. I really do… Continue reading MTDfB Video now available
I have been in discussion with Locktons recently, they are the PI insurers recommended by the ACCA, about the impact of GDPR claims: will they be covered by PI insurers? The present opinion, is that if a claim is brought against a firm by a third party for failure to look after or handle their… Continue reading PI cover for GDPR
Tax practitioners will be alarmed to hear that HMRC have set up a new online tax forum. Their press release says: A new online tax forum and dedicated webchat service for small businesses and the self-employed has been launched today (1 August 2017) by HMRC. The Small Business Online Forum is a quick and easy way… Continue reading HMRC offering advice!
Further guidance on the contents of the second finance bill for 2017 have been published on Gov.uk today. Download a copy here.
I wasn’t in my bath when I had this particular Eureka moment, I was actually discussing the MTDfB changes with HMRC’s implementation team following the annoncements made last week. In a nut-shell, it occurred to me that with a few changes (inexpensive changes!) the humble VAT return, which is already filed online, could be changed… Continue reading Transforming the VAT return into an MTDfB Tax Return
Directors are considered to be office holders and therefore not entitled to the NLW. Directors with a service contact, even if the terms are implied in some way, will be entitled to the NLW. Entitlement means that they must be paid at least the NLW or the employer (their company in most cases) will be… Continue reading Directors and the National Living Wage