business taxation Archives - Page 69 of 77 - Whitefield Tax - Isle of Wight Accountants

Farmers’ averaging profits

by Jessica Garbett | Feb 12, 2016 | ACCA, business taxation

Guidance and examples for how farmers may obtain tax relief by averaging the profits of consecutive years. The rules relating to the averaging of profits relating to farmers and creative artists are in Income Tax (Trading and Other Income) Act 2005 (ITOIA 2005), Part...

Self assessment tax returns – useful HMRC links

by Jessica Garbett | Jan 26, 2016 | ACCA, business taxation, personal taxatation

A list of relevant HMRC links. How to fill in your tax return Residence, remittance basis etc. notes Capital gains summary notes UK property notes Additional information notes Tax-free and taxable state benefits Rent a room in your home Income tax relief –...

Self Assessment: What determines whether HMRC issues a statement and payslip?

by Jessica Garbett | Jan 11, 2016 | ACCA, business taxation, HMRC, personal taxatation

HMRC will issue a paper statement and a payslip (providing the person has not opted for digital only communications from HMRC) to individuals who file a self assessment return before midnight on 31 December. They will not be issued for returns filed after this date....

Dividend waivers and settlement legislation

by Jessica Garbett | Jan 7, 2016 | ACCA, business taxation, personal taxatation

Dividend waivers can be an effective tool in tax planning – if executed correctly. A dividend is a payment from a limited company’s profits to its shareholders. The amount each shareholder receives will depend on the percentage they own in the company. When a...

Deducting Interest on Qualifying Loans

by Jessica Garbett | Jan 6, 2016 | ACCA, business taxation, personal taxatation

Under Income Tax Act 2007 (ITA) s383, interest paid on ‘qualifying loans’ is deductible in the tax computation. Interest is deducted first from non-savings income, then from interest on income and the remaining amount will be set against any dividend income. Relief is...

Autumn Statement

by Susan Albest | Nov 25, 2015 | budget, business issues, business taxation, capital taxation, HMRC, IR35, personal finance, personal taxatation, property taxation

Please note this content was written contemporaneously, and may well now be superseded Nothing stunning came out of the Chancellor’s Autumn statement. A few bits that will affect some clients : * Stamp Duty Land Tax (SDLT) to be increased by 3% on all buy to let...

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Farmers’ averaging profits

Self assessment tax returns – useful HMRC links

Self Assessment: What determines whether HMRC issues a statement and payslip?

Dividend waivers and settlement legislation

Deducting Interest on Qualifying Loans

Autumn Statement

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