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Income and expenses helpful hints for tax return

by Jessica Garbett | Dec 13, 2016 | ACCA, business taxation, personal taxatation

Taxable and non-taxable receipts Income tax is charged on the profit of a trade, profession or vocation. In order to be taxable the receipt must represent ‘the profits of’ the trade under S5 ITTOIA 2005. An incoming payment is not necessarily a trade...

Autumn Statement: Shareholder agreements

by Jessica Garbett | Dec 7, 2016 | ACCA, business issues, business taxation

Details of when income tax and CGT reliefs will no longer be available. The Chancellor announced that income tax and CGT reliefs are no longer available for companies making new employee shareholder agreements and individuals who have been offered – but have not...

Autumn statement: Restrictions coming on salary sacrifice regime

by Jessica Garbett | Dec 6, 2016 | ACCA, business issues, business taxation

Chancellor announces plans to restrict salary sacrifice benefits. In 2015 the government embarked on an evidence gathering exercise on the cost to the Exchequer of salary sacrifice schemes. In a consultation document which closed on 19 October 2016, the government...

Analysing the Autumn Statement

by Jessica Garbett | Dec 5, 2016 | ACCA, business taxation, capital taxation, personal taxatation

Infrastructure and digital economy The Chancellor provided the National Infrastructure Commission with a fiscal remit that the government intends to spend 1.2% of GDP on economic (physical and digital) infrastructure to 2020. There was also a significant comitment to...

Badges of trade

by Jessica Garbett | Nov 11, 2016 | ACCA, business taxation

A side by side comparison of badges of trade between circumstances pointing to trade or investment. HMRC and taxation sources on the interpretation of badges of trade are many and extensive. With a view to summarising them and providing a quick reference concerning...

HMRC launches R&D advance assurance scheme

by Jessica Garbett | Nov 10, 2016 | ACCA, business taxation

Research & Development (RD) tax relief is a valuable help for many UK companies, usually involving a reduction in their corporation tax liability. The rules have been around for a long time in various forms but one element that has not changed is the complexity of...

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Income and expenses helpful hints for tax return

Autumn Statement: Shareholder agreements

Autumn statement: Restrictions coming on salary sacrifice regime

Analysing the Autumn Statement

Badges of trade

HMRC launches R&D advance assurance scheme

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