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 21 August 2008Despite summer holidays the tax season is starting to hot up. This week our three practical tax issues include: how to secure more tax relief for energy saving products; securing tax relief for building alterations and other costs incurred complying with disability laws; and a topic that caused some alarm in the press this summer – staff canteen cards.
Tax newsletter 14 August 2008In our weekly tax update, as usual, we offer 3 practical points that will be of particular interest to accountants in general practice. This week we focus on some practical VAT issues: when a VAT return is actually due, what VAT you can recover when you start a new business or company, and a change in HMRC practice concerning VAT errors.
Tax newsletter 8 August 2008The 2008 Finance Act is now law and has brought in changes to the tax rules starting from various dates ranging from 12 March to 1 August 2008. In this week's newsletter we highlight three areas now affected and which may impact the advice you are currently giving your clients:
- Record keeping by owner-managed companies
- Associated Companies
- Research and Development tax credits
This week's practical tax update again contains 3 further issues relevant to accountants in practice. Today we focus on the issues relevant to 2007/08 tax returns by reference to the fundamental changes to capital gains tax which took efect from 6 April 2008. You need to consider the implications of the new regime when completing deferral claims in your clients’ 2007/08 tax returns. There is a new election to consider where shares have been exchanged and there are last year's CGT changes for partnerships too.
Tax newsletter 23 July 2008This week's practical tax focused newsletter includes updates to the problems with filing tax returns online we reported in our newsletter on 17 July. Also advice for payroll managers on how to deal with the change in personal allowances, and a word of warning about the HMRC website.
Tax newsletter 17 July 2008
The summer holidays are almost here, so you may be winding down for a few weeks. But we're still here offering 3 practical tax update notes week in and week out - as well as providing tax back up and support as and when you need a helping hand.
This week we've some practical advice about warning your clients about the deadline for renewing Tax Credit claims, various practical issues concerning the 2007/08 tax returns and the facility to make negligible values generally and especially re Northern Rock shares.
Tax newsletter 10 July 2008
Welcome to this week's practical tax update. The rising price of fuel is putting employers under pressure to pay higher mileage allowances, but this can result in tax and NI liabilities, which we discuss below. We also report on further developments with the service company question, and tax repayments generated by this year's tax returns.
Tax newsletter 3 July 2008Although the 2008 Finance Bill is still working its way through Parliament, some parts of the law are already in force and apply to current buying and selling decisions.
In this weeks practical tax update we update you on the latest position and remind you about the importance of the HMRC's List 3 for completing forms P11Ds.
- Annual Investment Allowance
- Entrepreneurs' relief on single assets
- Updated List 3 re subscriptions
This week's practical tax update again contains 3 further issues relevant to accountants in practice. The P11D deadline is nearly upon us, so we are looking at the tricky topic of company credit and charge cards. We also advise you about the new enquiry window and HMRC's efforts to help accountants and tax advisers.
In addition there are two new items on our Tax blog.
Tax newsletter 19 June 2008Three more practical tips this week for accountants in general practice:
- CIS - new regulation for compliance test
- Letting agents and the non-resident landlords scheme
- Overseas bank accounts and withholding tax
Some General Practitioners confess they do not 'do VAT'. Most though know enough to deal with day to day issues and then refer more complex issues to a VAT specialist (and you have a choice of specialists at Tax Advice Network). After 36 years VAT now affects almost every business transaction.
This week we highlight two areas where the VAT rules are changing and a shift in HMRC policy over CIS data.
- VAT option to tax - revised rules
- VAT on agency staff
- CIS information no longer provided
Last week's attempt to theme our three topical practical tax issues was spurious to say the least. This week we admit - it's a mixed bag!
- Advisory fuel rates from 1 June
- Small pensions
- Tax return glitches
Regular readers will note that we generally attempt to pick up on topical issues from the past week or to find a theme linking our three practical items. This week our link is a little spurious. It's inspired by the fact that it's half term for many schools so thoughts are on children and we have identified some key tax, benefit and employment issues that you need to know about when advising your clients on related issues.
- Statutory maternity pay - new rules
- Child benefit
- Flexible working
Phew! The PAYE end of year returns are just about done, but the PAYE season is not over yet as the forms P11D must be submitted by 6 July. This week we look at three PAYE related issues, which could make your life easier:
- P11D dispensations
- Changes to form P46 procedures
- PAYE enquiries
Opps he did it again! The Chancellor's announcement on Tuesday 13 May to attempt to fix the 10% tax crisis is his third u-turn since the Pre Budget report on 9October 2007. We look at the practical implications for your clients and two key need-to-know facts in the VAT area.
- Changes to 2008/09 income tax
- Written opinions from the VAT office
- VAT office address - it's changing!
With the price of petrol heading ever skywards, the tax efficiency of the company vehicles must be examined. This week we concentrate on the tax changes that are affecting company and business vehicles that are already here, and those changes that are in the pipeline for 2009.
- Capital allowances for cars
- Car or van
- VAT and fuel
Land and buildings don't move and their ownership is relatively easy to verify, so real property tends to attract a wide variety of taxes. This week our topical, commercial and practical focus is on three new or changing property tax issues:
- Tax return property pages
- Integral features
- Empty properties
This week we focus on how and when you and your clients need to register with HMRC, and provide an update on the guidance for service company questions on the P35 and 2007/08 tax return.
- Registering as self-employed
- Registering under money laundering regulations
- The service company questions
This week our 3 practical tax tips relate to issues arising from the April edition of the HMRC Employer Bulletin.
- Getting answers by email
- National insurance numbers
- Working from home expenses
As usual, there's a tax fun(!) item towards the end of this newsletter. And a note about a couple of changes you might notice to the website.
Tax newsletter 10 April 2008The tax world has long been fast moving and never more so than at the present. In this week's newsletter you can find out more about some of the issues we touched on last week:
- 2008/09 Tax Return - new stuff
- Service companies and the SA Tax Return
- Deadlines and penalties you need to know about now
