business taxation Archives - Page 41 of 76 - Whitefield Tax - Isle of Wight Accountants

Deferral to VAT domestic reverse charge on building and construction services

by Jessica Garbett | Sep 6, 2019 | business issues, business taxation

HMRC have announced today – 6 September 2019 – a one year deferral in the new VAT Domestic Reverse Charge on Building and Construction services. It was due to come in from 1 October 2019, it will now be 1 October 2020. Read about the deferral Read more...

Ruling Against HMRC Policy on Partial Closure Notices

by Jessica Garbett | Aug 16, 2019 | ACCA, business taxation, enquiries and tax disputes, personal taxatation

Individual wins battle with HMRC over a partial closure notice around overseas income and domicile. The First-tier Tribunal has held, in Embiricos v HMRC [2019] UKFTT 236 (TC) (9 April 2019), that a partial closure notice which was introduced in 2017 could be issued...

Understanding Registration Obligations with HMRC and Companies House

by Jessica Garbett | Aug 9, 2019 | business issues, business taxation, HMRC, personal taxatation

Knowing what taxes to register for, and when, can be confusing – not in the least as most taxes need separate registration. Here’s a handy guide: Business Taxes on Profit Sole Traders – register with HMRC for Self Assessment. No later than 5...

Post-cessation expenses

by Jessica Garbett | Jul 5, 2019 | ACCA, business taxation

A close look at post-cessation expenses claims can save traders money. Post-cessation receipts are taxable income of the person when they receive them, similarly relief may be available for post-cessation expenses. To make a successful claim for an allowable...

The tax cost of extracting a property from a company

by Jessica Garbett | Jun 25, 2019 | ACCA, business taxation, capital taxation, property taxation

Extracting a property from a company back into private beneficial ownership may be a costly affair. Buying an investment property via a limited company is commonly used to mitigate the impact of s24 finance cost restriction affecting landlords of residential...

VAT: Building and Construction Services Reverse Charge – detailed guidance

by Jessica Garbett | Jun 17, 2019 | business taxation, VAT

Edit – September 2019 – these measures deferred until 1 October 2019 Edit June 2020 – deferred to 1 March 2021 Further to our post last week on the Building and Construction Services Domestic Reverse Charge coming in from 1 October (the backstop date...

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Deferral to VAT domestic reverse charge on building and construction services

Ruling Against HMRC Policy on Partial Closure Notices

Understanding Registration Obligations with HMRC and Companies House

Post-cessation expenses

The tax cost of extracting a property from a company

VAT: Building and Construction Services Reverse Charge – detailed guidance

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