Category: In Practice Blog

Publishing statements 5.12 Under Regulation 85 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs), implemented in June 2017, HMRC has a duty to publish details of penalties, naming your business or…

Law Stated At: 1 January 2018 4.21 Relief for qualifying charitable donations is given under CTA 2010, s 189. Such payments are not related to a company’s trading activity, so they are known as ‘non-trade’ charges. They can only be relieved…

Gross misconduct in the workplace is categorised as behaviour which breaks the rules laid down in the employment contract, entitling your client to dismiss employees without notice or pay in lieu of notice. However, when an incident of gross misconduct…

Extract from Bloomsbury Professional Online “Capital Gains Tax” Law Stated At: 1 January 2018 1.8 The main exemptions applied to particular assets or gains by virtue of TCGA 1992 are set out in Table 1.1, in the order in which they appear…

How and when to report changes in your business to HM Revenue and Customs (HMRC) and what to do if you want to cancel your registration. Contents Changes you should report to HMRC When to report changes How to report a…

By Mark McLaughlin Mark McLaughlin looks at whether company directors who receive no income or gains still need to complete a tax return, and questions whether government guidance is correct. The majority of owner-managed or family company directors receive a…

Mark McLaughlin looks at tax planning on gifts between spouses or civil partners that might help some couples at a time they would probably prefer not to think about. ‘In this world nothing can be said to be certain, except…

My client has recently registered on a voluntary basis, backdating his registration to 1 April 16. He has also applied for and been accepted onto the flat-rate scheme. I am comfortable with the choice of sector, but am getting conflicting…

By Mark McLaughlin Mark McLaughlin highlights a tax case in which HMRC estimated a taxpayer’s property rental business expenses in the absence of sufficient records. Keeping full and proper records of property rental business expenses is an important task for…

by Melanie Lord Yet another example of why it is so important think about VAT before a deal is finalised and make sure the proposed VAT treatment is clearly communicated. I was talking about the importance of thinking about VAT…