Tax

• Administration of Troncs

• The long-running series of disputes between employers in the hospitality industry and HM Revenue and Customs (HMRC) concerning the taxation of employees tips and their National Insurance (NI) status seems to have been concluded by the issue of new...

• Advice on Acquisitions Deductible

• One common area of dispute between companies and the HM Revenue and Customs (HMRC) is that of deductibility of expenses. One of the hottest areas of dispute is often whether an expense is a trading expense (deductible as part of the day-to-day running costs...

• HMRC Change Policy on Fraud

• HM Revenue and Customs (HMRC) have announced that they no longer intend to follow the procedure laid out in Code of Practice 9 for investigating cases of civil evasion of taxes ( tax or VAT fraud ) where the sums of money involved are small. Code of...

• IHT and Small Business

• Inheritance Tax (IHT) is payable on a deceased person s estate at 40 per cent above 312,000 (2008/9) the current nil rate band. However, business property is treated differently from personal property and may qualify for Business Property Relief (BPR)....

• Making Training Costs Tax Deductible

• Most business owners and managers think that training costs aimed at improving skills or business profits automatically qualify for tax relief, but that is not necessarily the case. The complexities of the UK tax system mean that the availability of tax...

• Making Waivers of Dividends Work

• When a company is set up, it is common to divide the shares in it in approximately equal proportions amongst the subscribers. Whether or not this proves to be the most effective way to split them in the long run depends on a variety...

• Mobile Phones and Tax: Hands-Free Kits

• It is well known that when an employer provides a mobile phone to an employee, there is no benefit in kind charge as long as the phone remains the property of the employer. The same rule can apply when the employer pays for a mobile phone 'hands-free' kit...

• Paying for Employee Training

• It is well known that the rules regarding expenses that are allowed as deductions from income for tax purposes are far stricter for employees than they are for the self-employed. The relevant legislation gives a self-employed person the right to make a tax...

• Tax Disclosure Rules Tighten

• UK tax law is almost unique in that it contains regulations which require professionals to advise HM Revenue and Customs (HMRC) of information regarding tax avoidance schemes (TAS). Failure to comply can lead to a penalty of up to 5,000 plus other charges. ...

• Tax Free Perks

• The Government has continuously sought to limit the tax free perks that businesses can provide for their employees. However, there are some remaining. Here is an update on some of those still available. Childcare Childcare provision and childcare...

• VAT - Place of Supply of Services

• With different rates of value-added tax (VAT) applying throughout Europe, the place that a supply is made (and hence the VAT rate which is applicable) can be a very important matter. The basic 'place of supply' rule is that in normal circumstances (and...

• VATand Electronic Goods - Take Care

• In order to combat missing trader fraud, which is estimated to have cost the Exchequer hundreds of millions of pounds, HM Revenue and Customs (HMRC) have introduced measures which can, in some circumstances, make a supplier (or customer) responsible for its...