business taxation Archives - Page 58 of 77 - Whitefield Tax - Isle of Wight Accountants

Overpayments from customers – VAT, Tax and Legal

by Jessica Garbett | Aug 30, 2017 | ACCA, business issues, business taxation

Don’t overlook the VAT, tax and legal implications of overpayments. A common scenario – a customer overpays you and you pick this up when preparing the year end accounts. You is not sure what action to take as the customer has not contacted them and seems oblivious to...

CGT loss relief when a taxpayer dies

by Jessica Garbett | Aug 29, 2017 | ACCA, business taxation, capital taxation, personal taxatation

What to consider when it comes to CGT losses, including worked example. Losses are always an area that requires consideration. The basic rules regarding capital gains tax are: no liability to capital gains tax arises on death. The personal representatives are...

Employee benefit trusts and tax avoidance

by Jessica Garbett | Aug 22, 2017 | ACCA, business taxation, enquiries and tax disputes, penalties

GAAR Advisory Panel issues significant conclusion in recent case. In a recent company and taxpayer case concerning employee rewards the GAAR Advisory Panel concluded that: ‘entering into the tax arrangements isn’t a reasonable course of action in relation to the...

Making Tax Digital Deferral

by Jessica Garbett | Jul 14, 2017 | business taxation, HMRC, politics

A bit of good news for a summer Friday morning. Yesterday – Thursday 13 July – the Government announced a deferral in the timescales for the ambitious Making Tax Digital programme – the one where businesses would have to submit quarterly figures...

Gift aid: small donations

by Jessica Garbett | Jun 26, 2017 | ACCA, business taxation

On 6 April 2017, some of the rules for the Gift Aid Small Donations Scheme (GASDS) were changed. These changes can be summarised as follows: The maximum amount of GASDS top up you can claim is 10 times the total amount of Gift Aid donations claimed on by the charity...

Tax efficient cash extraction from businesses

by Jessica Garbett | May 31, 2017 | ACCA, business taxation, personal taxatation

When to charge a company rent and mortgage interest. With the recently announced reduction of the tax free dividend allowance to a modest 2k next year, many practitioners will be interested to explore other avenues of tax efficient cash extraction still available to...

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Overpayments from customers – VAT, Tax and Legal

CGT loss relief when a taxpayer dies

Employee benefit trusts and tax avoidance

Making Tax Digital Deferral

Gift aid: small donations

Tax efficient cash extraction from businesses

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