business taxation Archives - Page 39 of 76 - Whitefield Tax - Isle of Wight Accountants

R&D expenditure credit increased to 13%

by Jessica Garbett | Mar 13, 2020 | ACCA, budget, business taxation

Consultation announced on data and cloud computing expenditure qualifying for R&D tax credits. Research & Development tax credits This objective will be supported by increasing the Research & Development Expenditure Credit (RDEC) rate from 12% to 13% from...

Averaging profits for farmers – a refresher

by Jessica Garbett | Feb 27, 2020 | ACCA, business taxation

A refresher from ACCA on how farmers and market gardeners in the UK may obtain relief by averaging the profits of consecutive years. Farm subsidies The Direct Payments to Farmers (Legislative Continuity) (DPLC) Bill provides governments across the UK powers to...

Independent review into loan charges

by Jessica Garbett | Feb 6, 2020 | ACCA, business taxation, personal taxatation, PSC

Have you seen HMRC’s response to the review’s outcomes? You may have already received HMRC’s communication highlighting its advice around the independent review into loan charges where it signalled it will refund voluntary payments. HMRC stated in its update:...

Benefits in kind: employee-used assets

by Jessica Garbett | Jan 27, 2020 | ACCA, business taxation, employer returns, personal taxatation

There’s a lot to consider when it comes to employees using assets other than a car or van for private use. What is the taxable benefit in kind to an employee or director when the employer allows the employee to use an asset for private use? The employee will have a...

Tax cases and CEST

by Jessica Garbett | Jan 20, 2020 | ACCA, business issues, business taxation, IR35

A recent tax case could prove key when using CEST (Check Employment Status for Tax service) Check Employment Status for Tax (CEST) is a tool from HMRC to determine if an individual, or a worker on a specific engagement, should be classed as employed or self-employed...

Tax allowances available when working from home

by Jessica Garbett | Jan 10, 2020 | ACCA, business taxation, personal taxatation

The reliefs employees and those who are self-employed can claim when they work from home will depend on a number of conditions. Employees working from home It is a condition for tax relief under section 336 ITEPA 2003 that the expenses must be incurred ‘wholly and...

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R&D expenditure credit increased to 13%

Averaging profits for farmers – a refresher

Independent review into loan charges

Benefits in kind: employee-used assets

Tax cases and CEST

Tax allowances available when working from home

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