personal taxatation Archives - Page 34 of 47 - Whitefield Tax - Isle of Wight Accountants

Jointly owned property and form 17

by Jessica Garbett | Feb 25, 2016 | ACCA, capital taxation, personal taxatation

Guidance on how and when to use form 17 with regards to jointly owned property. Owning a property in joint names can be used as a tax planning tool as each joint owner can use the annual capital gains tax allowance when the property is sold. Purchasing a property in...

New Guidance: Tax on Savings and Dividends 16/17 onwards

by Jessica Garbett | Feb 21, 2016 | dividends, personal finance, personal taxatation

We’ve added a page to our website with up to date guidance on how Savings and Dividend income is taxed, and changes relevant to 16/17 https://www.whitefieldtax.co.uk/tax-on-savings/

Rental expenses

by Jessica Garbett | Feb 18, 2016 | ACCA, personal taxatation, property taxation

Overview of some of the common tax issues on rental expenditure. The general rule when calculating rental business profits is that expenses will be treated as revenue expenditure provided they are incurred wholly and exclusively for the purposes of the business and...

Accrued income scheme

by Jessica Garbett | Feb 10, 2016 | ACCA, personal finance, personal taxatation

De-mystifying the accrued income scheme. The accrued income scheme was originally introduced to counteract a practice known as bondwashing – converting income into capital gains by disposing of securities when the price obtained reflects a significant element of...

Benefits in kind loans to directors and employees

by Jessica Garbett | Feb 8, 2016 | ACCA, employer returns, personal taxatation

What happens when benefits in kind loans are not exempt from reporting. If the loans are not exempt from reporting they should have been included on the P11d of the employee. The normal method of calculation is to take the average for the year: Take the average of the...

Reasonable excuse – tax returns

by Jessica Garbett | Feb 5, 2016 | ACCA, HMRC, personal taxatation

You can remove tax return-related penalties if there is a reasonable excuse for not submitting the return on time. You can remove tax return-related penalties if there is a reasonable excuse for not submitting the return on time. HMRC does not require supporting...

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Jointly owned property and form 17

New Guidance: Tax on Savings and Dividends 16/17 onwards

Rental expenses

Accrued income scheme

Benefits in kind loans to directors and employees

Reasonable excuse – tax returns

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