Starting a new business is a huge venture, with much to consider and organize. It would be hardly surprising therefore if bookkeeping isn’t an immediate priority. However, although the day to day running of your newly formed business may be all-consuming, it’s important to think about the practicalities of bookkeeping sooner rather than later. If [...]
Summary The appellants' chargeable gain on the disposal of their principal private residence was reduced due to a larger 'permitted area', but a part of the gain also arose due to ownership seven years before occupation. Background The appellants (husband and wife) bought land for £11,000 in July 1987. At that time, the only buildings [...]
Dividends are a special case when it comes to tax and has their own rates and rules. The dividend tax was radically reformed from 6 April 2016 and the rules outlined below apply to a dividend paid on or after that date. Dividend income The first step to working out the tax on dividend income [...]
VAT Value Of Consideration Were Overpayments Of Parking Charges Voluntary Payments And Outside The Scope Of VAT Or Additional Consideration For The Supply Of Parking? National Car Parks (NCP} appealed to the Upper Tribunal from the FTT regarding pay and display car parks with machines that accept payment in cash. Where customers do not have [...]
VAT Welfare Exemption: Was The Appellant 'State Regulated' And Was EU Law Correctly Implemented Into UK Law, And If Not Did EU Law Have Direct Effect? Summary The appellant believed that its supplies were exempt under VAT Welfare Exemption as welfare services and applied to de-register for VAT. HMRC refused the application for de-registration on [...]
The appellant's appeal against penalties (under FA 2009, Sch 55) for the late filing of his tax return for 2010/11 was allowed, as the assessment by HM Revenue and Customs (HMRC) of daily penalties was invalid, and as his imprisonment constituted a reasonable excuse against the fixed, six-month, and twelve-month late filing penalties. Background HMRC [...]
Inheritance tax concerns the taxes that will be legally due on all of the applicable assets when a person dies. The tax procedures can be very complicated, which is why many people opt to appoint tax accountants to take care of the finer points that will be concerned with their inheritance tax. Generally, inheritance tax [...]
When it comes to running your own small business, one of the most important things to think about is your choosing your accountant. You only need to take a look at the tax accountants and chartered accountant database that we have here at The Accountancy Network you will see that there are plenty to choose [...]
Finding a proactive accountant for your business isn’t always easy. You will want to find an accountant that is not only top quality, but also an affordable accountant too. Balancing the two can be tricky, but there is a way that you can find a cheap accountant who is still going to work perfectly for [...]
When it comes to accountancy the main part of any tasks that an accountant is likely to perform for your business is a tax. This could be preparing you for self-assessment tax returns if you are self-employed or perhaps to assist with construction works tax. What is a tax accountant? Tax is such an integral [...]
