Rather than call up HMRC, you can register for self-assessment (to get your UTR) by completing this web form.
Tags: HMRC, registration, Tax
Tags: Application, Dispensation, HMRC, Tax
This may not be needed if in the future, the Office of Tax Simplification gets its way, but for now, this is the best way to apply for dispensation.
Why a dispensation? It means that employers can avoid the need to record every expense reimbursed to staff in the normal course of their business, and then correspondingly, the staff won’t need to claim those business expenses against their income on their tax returns.
Tags: forms, HMRC, PAYE, PSA, Tax
HMRC have an official form to submit your PSA (PAYE Settlement Agreement) calculations. It is called PSA1 and is located on HMRC’s website.
Tags: accountancy firms, business, professional, wordpress themes, wordpress.org
Our firm’s website is in need of a refresh. The current website is hosting on the server that is owned by the web developer and it runs an old version of Drupal. Although we can log in to post content, it isn’t very user friendly and we cannot update the back-end ourselves.
We are therefore thinking of transitioning the website to wordpress.org and so the search is on for an appropriate business style template to form the base of the site. The site will fundamentally be a brochure style accountancy firm website, with the main page being a welcome or about us page and the blog part relegated to a sub page.
Suggestions welcome …
Tags: AIA, anti-avoidance, capital allowances, HMRC
Can you claim an Annual Investment Allowance (AIA) on assets introduced personally to a business. E.g. by a sole-trader on incorporation?
Connected persons transactions: if a person incurs expenditure in a transaction with a connected personCA28800, no AIA is due (CAA01/S214 & S217). There is an example of a connected person transaction (where brothers attempted to exploit the legislation to obtain more allowances than was intended) at CA28100. This anti-avoidance rule prevents such exploitation and denies an AIA in all cases where the parties to the relevant transaction CA28200 are connected.
Tags: Conferences, EU VAT, Exhibitions, HMRC, VAT
HMRC have clarified the VAT treatment of business to business supplies of land related to exhibition stands when supplied with other services, so that the UK is not at a disadvantage. This was because other EU countries were interpreting the recent changes to the place of supply slightly differently.
Currently HMRC regards the supply of specific stand space at an exhibition or conference as a supply of land. This policy will continue where the service is restricted to the mere supply of space without any accompanying services.
However, where stand space is provided with accompanying services as a package, this package (stand and services) will no longer be seen as a supply of land with land related services but will be taxed under the general place of supply rule (customer location) when supplied to business customers.
Tags: allowable, deductions, Penalties, Tax
From Section 1303 of CTA2009:
1. In calculating profits for any corporation tax purpose, no deduction is allowed for any penalty or interest mentioned in the first column of the following table.
2. The table:
|Penalty or interest||Description of tax, levy or duty|
|Penalty under any of sections 60 to 70 of VATA 1994||Value added tax|
|Interest under section 74 of VATA 1994|
|Penalty under any of sections 8 to 11 of FA 1994||Excise duties|
|Penalty under any of paragraphs 12 to 19 of Schedule 7 to FA 1994||Insurance premium tax|
|Interest under paragraph 21 of that Schedule|
|Penalty under any provision of Part 5 of Schedule 5 to FA 1996||Landfill tax|
|Interest under paragraph 26 or 27 of that Schedule|
|Penalty under any provision of Schedule 6 to FA 2000||Climate change levy|
|Interest under any of paragraphs 70, 81 to 85 and 109 of that Schedule|
|Penalty under any provision of Part 2 of FA 2001||Aggregates levy|
|Interest under any of paragraphs 5 to 9 of Schedule 5 to, paragraph 6 of Schedule 8 to and paragraph 5 of Schedule 10 to FA 2001|
|Penalty under section 25 or 26 of FA 2003||Customs, export and import duties|
|Penalty under any provision of Part 4 of FA 2003||Stamp duty land tax|
|Interest under any provision of that Part|
|Interest required to be paid by regulations made under section 71 of FA 2004 (construction industry)||Income tax|
3. In calculating profits for any corporation tax purpose, no deduction is allowed for any surcharge under section 59 of VATA 1994.