Recently added Tips & Advice

TRUSTS - 19.06.2024

Ending a trust tax efficiently

Your client has had a discretionary trust for their children for many years. They are now adults, and following a ten-year charge the client wants to end the trust and distribute the assets to each of them. How can this be done without triggering a tax trap?
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TAX CASES - 19.06.2024

Was director’s loan correctly written off?

Plumpton v HMRC. Mr Plumpton (P) was a director and shareholder in a close company. His director’s loan account (DLA) had been overdrawn and the company had paid the s.455 charge accordingly. The company later submitted a claim to recover this on the basis that the outstanding amount had been written off in 2013/14. The write-off was not mentioned in his personal tax return, so HMRC issued an assessment and added a penalty for a careless inaccuracy. P appealed. ...
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INCOME TAX - 19.06.2024

Should Scottish clients relocate?

In 2024/25, Scotland has a six-tiered income tax rate system with a top rate of 48%. Will Scottish taxpayers be significantly worse off, and what other factors do clients need to consider if they are looking at relocating?
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CONSTRUCTION INDUSTRY SCHEME - 19.06.2024

Change to refund claim process

The construction industry scheme (CIS) requires contractors to withhold tax from subcontractors. As this is at a flat percentage, overpayments are common. How has HMRC’s refund process changed recently?
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TAX CASES - 19.06.2024

Can tribunal force HMRC to accept late claim?

Kalay v HMRC. Mr Kalay (K) purchased shares in a company in 2013. In 2020 he sold them, realising a significant gain. He claimed that enterprise investment scheme (EIS) disposal relief should apply. HMRC rejected the claim as K had not made a claim for income tax relief. K submitted a late claim but HMRC refused to accept it. ...
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BENEFITS AND EXPENSES - 19.06.2024

What’s new for P11D filing?

You’ve been asked to help some of your clients with P11D reporting for the first time in several years. What recent change do you need to be aware of, and why might a change to your clients’ reporting going forward be useful?
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Most read Tips & Advice

CONSTRUCTION INDUSTRY SCHEME - 17.04.2024

No more CIS tax refunds

It pays not to talk. HMRC seems hell bent on ditching access to its services by phone. In the last couple of years contacting HMRC by phone for most tax issues has been increasingly limited. The latest victims of the HMRC cutbacks are companies who want to claim a refund of deductions made under the construction industry scheme (CIS). ...
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TRAVEL - 30.04.2024

The latest on home-to-work travel

HMRC has changed its guidance on home-to-work travel costs where an employee’s home is their workplace. How might this affect your right to tax relief?
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DISMISSAL - 17.04.2024

Fairly dismissed for irretrievable relationship breakdown

The Employment Appeal Tribunal has ruled that an employee was fairly dismissed due to a breakdown of trust and confidence in the working relationship, even though he received no written warning and wasn’t offered a right of appeal. Why was this?
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