business taxation Archives - Page 43 of 80 - Whitefield Tax - Isle of Wight Accountants

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...

Corporation tax loss relief changes

by Jessica Garbett | Jan 9, 2020 | ACCA, business taxation

ACCA provide this comparison table following the 2017 reforms. The legislation Reform was introduced in schedule 4 of the Finance (No.2) Act 2017. It applies from 1 April 2017. Accounting periods that begin before and end after 1 April 2017 follow commencement...

Top tips when using provisional figures in self-assessment tax returns

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

A tax return containing provisional figures should only be submitted if it becomes clear that a more accurate figure will not be available before the filing date. HMRC will not accept a return containing estimated or provisional figures when the client did not provide...

Entrepreneurs’ relief – the importance of trading activities even when suspended

by Jessica Garbett | Nov 28, 2019 | ACCA, business taxation, capital taxation

A must read case for entrepreneurs’ relief. Entrepreneurs’ relief (ER) reduces the rate of capital gains tax (CGT) on disposals of certain business assets from 20% to 10%. The recent first-tier tribunal case of Potter [2019] UKFTT 0554 (TC) re-emphasises the...

Challenges of capital allowances

by Jessica Garbett | Nov 12, 2019 | ACCA, business taxation

Establishing the primary function of an asset can be hugely important. The distinction between plant and building is an important one from a tax perspective. When made incorrectly, it will have a significant tax cost in either lost or incorrectly claimed capital...

Taxation of shares transferred to a director or employee

by Jessica Garbett | Oct 11, 2019 | ACCA, business taxation, capital taxation, personal taxatation

Understanding how to account for employee securities and shares. Shares in companies are commonly used by employers to remunerate directors and employees. These are sometimes transferred under a formal plan which may have written rules which specify when and how many...

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Tax allowances available when working from home

Corporation tax loss relief changes

Top tips when using provisional figures in self-assessment tax returns

Entrepreneurs’ relief – the importance of trading activities even when suspended

Challenges of capital allowances

Taxation of shares transferred to a director or employee

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