Tax newsletters
Tax Advice Network newsletters are written specially for accountants in general practice. You'll receive your full complimentary copy each week once you register your name and email address with us.
Each of the 'articles' below contains a summary of our most recent weekly email newsletters. You will find further articles in our TANK by clicking on the TANK link button above.
Full professional members of the Tax Advice Network receive full copies of our newsletters. These can also be accessed through this link if you have upgraded and are logged in to your account.
Articles
Tax Newsletter 02 Sept 10This week we focus on key elements of the information so far released about the proposed NIC holiday which was announced in the Budget on 22 June. We also have advice concerning VAT on internet advertising and about important emails from ChRIS.
Tax Newsletter 26 Aug 10Tax compliance is about getting the right figures and payments to HMRC at the right time. We have a sad tale this week of a publican who struggled to get a VAT refund claim in on time. Excess NI contributions can also be reclaimed and we demonstrate how to identify a potential repayment. We also have a warning about delays for tax registration forms.
Tax Newsletter 19 Aug 10Any tax exemption will eventually be twisted to achieve the maximum benefit for employees and employers, and so it is with the cycle to work scheme. If you have clients that use this scheme check out the new HMRC views referenced below. We also have news of new guidance on VAT relating to financial services, and a welcome development in online filing for LLPs.
Tax Newsletter 12 Aug 10The terrible floods in Pakistan have thrown a spotlight on the work of charities who provide relief in such remote areas. If you act for a charity you need to understand the new fit and proper persons test for charity managers, which we outline below. HMRC have also updated their guidance on what qualifies as a van as opposed to a car, and have expanded the free training courses available to taxpayers and agents, which you may want to take advantage of.
Tax Newsletter 05 Aug 2010
After the practical points below I have put the Spotlight on one of our tax adviser members, offered a new item for the Tax Fun spot and provided another 'Did you know...?' thought about the Tax Advice Network. You are welcome anytime to join us. Simply check out the list of membership benefits on this one page chart and choose the option that best suits you. --> Chart
Many businesses have made time to pay arrangements with HMRC, but this may not be the end of their tax debt problems, as we outline below. We also try to answer some of your clients' questions about the proposed NIC holiday and have news about the refund scheme for VAT incurred in other EU countries.
Tax Newsletter 15 July 2010The full version of this weekly newsletter always has a clear focus on practical, timely and commercial practical tax tips and advice. Sadly you are no longer eligible to receive complimentary copies of the full newsletter. Find out how to secure your weekly entitlement here. This will also enable you to access full copies of this and all previous newsletters too.
Tax Newsletter 8 July 2010The second Finance Bill for 2010 was published on 1 July, and it contains two nasty surprises for taxpayers who have, or are about to, exchange shares for qualifying corporate bonds (QCBs). We explain the traps below so you can advise your clients without delay. We also alert you to the dangers of HMRC Business Assurance visits.
Tax Newsletter 1 July 2010Many young people will be leaving school or college around now to take their chances in the jobs market. Parents of those young adults need to inform HMRC for tax credit and child benefit purposes, so we have summarised what needs to be done so that you can help your clients do the necessary. We also have updates on the new HMRC guidance concerning non-statutory business clearances, and the continuing issues with the NIC and PAYE service (NPS).
Tax Newsletter 25 June 2010Unless you're very unlucky or a sadist your inbox probably receives fewer Budget updates than mine. As long time subscribers will know I work on the assumption that most recipients of our newsletters have enough pre-existing access to budget summaries. So we don't publish one ourselves.
Online filing is gradually becoming compulsory for more types of tax forms. The first deadline for filing VAT returns online is almost here, so this week we examine some practical issues with online filing for both VAT and CTSA returns. We also have news about payslips for the 31 July income tax payments.
And further to previous news, the Chancellor's Budget next week is now to be at the more usual time of 12.30 rather than 3.30 as originally announced by the Treasury.
We are now into the P11D season, so we have two practical points relating to benefits that must be reported even if your client does have a dispensation. One of these includes reference to a new HMRC disclosure opportunity announced earlier this week. We also update you on the new PAYE payment warning letters.
After the practical points below I have put the Spotlight on one of our tax adviser members, offered a new item for the Tax Fun spot and provided another 'Did you know...?' thought about the Tax Advice Network.
Tax Newsletter 02 June 2010Welcome to this abbreviated version of our full professional members' newsletter
It pays to be on top of the latest HMRC view of the CGT reliefs and exemptions, so this week we include updates on recent changes in the areas of private homesand share for share deals. We also set out the new advisory fuel rates, with a word of caution of when these rates can and cannot be used
Tax Newsletter 27 May 2010The new Coalition Government's tax policies are still causing concern, so this week we cut through the spin around the 'jobs tax'. We also have cautionary tale about mistakes in PAYE, and a warning about a new standard VAT letter that may hit your desk soon.
Rumours are buzzing around about a rise in CGT, so this week we take a hard look at what you may want to discuss with your clients before the next Budget on 22 June. There are also new developments in guidance for reviewing tax returns and how to contact HMRC.
Tax Newsletter 13 May 2010We have a new Prime Minster and a new Chancellor but the same old problems with the tax system remain. And I'm not hopeful of any immediate positive changes in this regard. This week we focus on tax returns submitted early, and the difficulty this can cause with gift aid carry back claims. We also have news about how HMRC are handling repayment claims, and a warning about computer problems and SA related fraud.
During the General Election campaign HMRC are barred from making policy changes or undertaking consultations, along with the rest of the Civil Service. As a result there have been no major tax announcements in the last few weeks, but there have been changes to HMRC procedures for dealing with telephone calls and compliance checks. There are also a number of changes affecting payrolls that your clients may need to know about.
Tax Newsletter 29 AprThis month saw the introduction of new method for working out whether a partially exempt business can fall under the de-minimis exemption, and thus reclaim all its input VAT. We have a summary of the new de-minimise tests, a salutary warning about business records and a heads-up about the new HMRC education unit.
The recession may be easing up in some areas, but sorting out tax relief for the losses made is going to take some time. We have a quick and practical guide this week to the things you need to consider when faced with trading or property losses. We also draw your attention to new HMRC powers for amending tax returns.
