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HR EXPERT: REASONABLE ADJUSTMENTS

HR l

My client has an employee who has just been diagnosed with multiple sclerosis and is concerned about the cost of making reasonable adjustments. Can they refuse to make adjustments because it would cost too much?

VQOTW: ENERGY SAVING MATERIALS

VAT l

My client is planning major renovations to her home to make it more “eco-friendly”. This will involve the installation of a number of energy-saving materials such as solar panels, insulation, and an air source pump to provide both heating and cooling functions. However, she has heard there are imminent changes to the VAT treatment of such supplies and is concerned she may miss out on current VAT reliefs. Please could you clarify?

VQOTW: REVERSE CHARGE SERVICES FROM OVERSEAS

VAT l

My client is an insurance company, they are VAT registered and partially exempt (85% exempt/15% taxable). They have invested £200,000 in bespoke computer software. The software was written for them by an Israeli company, who are renowned leaders in software security. HMRC have recently inspected the insurance business and made an assessment of £34,000. My client is confused as to how they have a VAT assessment on an invoice that didn’t even have any VAT on it.

VQOTW: CULTURAL ADMISSIONS

VAT l

My client is an amateur dramatic society operating via a company limited by guarantee. They own their own premises and charge admissions to their productions. The admissions have grown to £80,000 in the last 12 months, and alongside this income, they have £20,000 from bar sales and they also occasionally perform at other theatres. They don’t control the box office for these performances at other theatres; instead, they are paid a fixed fee by the theatre for performing, and income from this is £10,000. As their total sales are now £110,000 for the last 12 months, I’m assuming they have to register for VAT?

VQOTW: DOMESTIC REVERSE CHARGES

VAT l

I have recently been reading up about the domestic reverse charge for construction services which comes in in October 2019, including the helpful VQOTW (14 June 2019), but this has got me wondering whether there are any other reverse charges in the UK I should be aware of, and why they are increasingly being used by HMRC?

TQOTW: SHARE REDUCTION

Tax l

My client originally subscribed for 50,000 £1 shares when he set up his company. He now feels that the company is over capitalised and would like to return some of the share capital back to himself. He wonders whether the company could enter into a share buy-back or alternatively perhaps he could simply cancel some of the shares and receive the original capital.

HMRC Enquiries: Private Residence Relief Problems

Property l

One of our clients contacted us to request assistance on a Private Residence Relief (PRR) case.

The client was a wealthy entrepreneur who had dabbled in the property development business and HMRC was now seeking to disallow PRR on the sale of their current home – not only because it was a substantially redeveloped property, but also because the property had an additional stretch of land attached to it which meant that the total area sold was over half a hectare.

HR EXPERT: MOBILE PHONES

HR l

My client wants to know if they can confiscate mobile phones from employees as they are spending too much time on them during the day?

CONSTRUCTION INDUSTRY SCHEME

VAT l

And upcoming changes for reverse charge VAT.
Few sectors have such an impact in the UK as the construction industry. It not only provides the fabric of our nation – the places where we live and work – but also underpins our entire economy.

SAVING FOR YOUR RETIREMENT

Pensions l

Are you on track for a comfortable retirement?

All of us dream of the day we can retire, saying goodbye to the alarm clock and commute, filling our days with sun-soaked beach holidays, leisurely rounds of golf, or cruising the world.

Click here to read the article

Tax Insider August 2019

Tax Insider l

Included in this months issue:
– Demand for digital skills among businesses tipped to ‘skyrocket’
– Businesses urged to inform staff of tax-free childcare
– Rules on gifts made to loved ones should be simplified, says the OTS
– Treasury urged to rethink buy-to-let crackdown

Click here to read the article

Tax Relief Webinar | Misconceptions Debunked

Tax l

Following on from our recent webinar where we looked at a general overview of R&D, Capital Allowances and Patent Box Tax Reliefs, the next in our series of webinars will delve deeper into each relieves and as the title suggests, debunk some of the most common misconceptions.

The webinar will be hosted by Derek Granger from Croner Taxwise and Nigel Holmes from Catax. We will be discussing the following areas.

R&D
• Impact with grants
• Not doing R&D – the man in the white coat mentality
• Too good to be true/will trigger an enquiry

CA
• It is just a timing difference as it increases a future capital gain
• Out of time
• It requires an alteration to the accounts

Patent Box
• Complexity
• Patent is in the wrong name
• Not suitable for loss-making companies
• Not as generous as initially thought

This will be followed by a Q&A session.

Sign up for the webinar below. We hope you can join us for what promises to be a very informative webinar.

Register Now

TQOTW: ENTREPRENEURS RELIEF FOR NEW INCORPORATIONS

Tax l

I understand that Entrepreneurs Relief is now given for new incorporations so that, on incorporation, an existing sole trader would immediately meet the qualifying conditions even though they would not have owned shares in a qualifying company for a sufficient period. Is this correct?

TQOTW: DATE OF SEPARATION FOR CGT

Tax l

Jack and Jill started living apart in November 2018 but there was then no contemplation of a divorce. In May 2019 they discussed their situation and at that point in time decided to get divorced. They agreed to get divorced in January 2020.
In June 2019 they agreed a plan to transfer assets between themselves before 6 April 2020 as part of the divorce settlement. The proposed transfers include a large property with a market value of £1 million which originally cost £200,000 many years ago and which Jack will acquire from Jill. She is concerned about the CGT implications.

The property being disposed of by Jill shows a gain of £800,000 based on market value. Jill is seeking to rely on a transfer of assets between spouses who are living together is treated as taking place for such consideration as will give neither a gain nor a loss to the transferor by virtue of s 58 TCGA 1992.

TQOTW: P11D’S & PAYROLLING BENEFITS

Tax l

With the 2018/19 P11D deadline looming, should I be considering payrolling benefits in future? What is the advantage? What do I need to do and when?

VQOTW: DISTANCE SELLING IN THE EU

VAT l

My client is a small retailer specialising in bespoke leather goods, and all sales to date have been within the UK. In order to expand her customer base, she is launching a website and planning to sell through Amazon. Are there any VAT consequences she needs to consider?

IDENTIFYING INEFFICIENCIES IN A BUSINESS

Businesses l

Accountants, as a breed, are fans of efficiency. We tend to appreciate optimised systems and abhor waste, whether it’s time, effort or resources being frittered away.
The concept of efficiency as we know it today is a product of the industrial revolution. That’s when engineers and manufacturers became obsessed with squeezing out maximum profit by the smart use of new machinery and the automation of processes.

Click here to read the full article.

Tax Insider July 2019

Tax Insider l

Included in this months issue:

– HMRC ERROR AFFECTS PAYMENTS ON ACCOUNT BILLS FOR SOME TAXPAYERS
– MOST GIFTERS ARE ‘UNCLEAR ON INHERITANCE TAX RULES’
– NON-COMPLIANT EMPLOYERS FACE AUTO-ENROLMENT SPOT-CHECKS
– CALLS GROW FOR DELAY IN EXTENDING IR35 TO THE PRIVATE SECTOR

Click here to read the full article.

HR EXPERT: CHANGE IN BANK HOLIDAY

HR l

My client wants to know how the change in date of next year’s Early May Bank Holiday could affect them from an employment law perspective. Can you please advise?

Visit York Tourism Awards 2019

General l

Morrell Middleton once again sponsored Make it York’s “Visit York Tourism Awards” #VYTA19 – Best Restaurant of the year!

VQOTW: DISTANCE SELLING IN THE EU

VAT l

My client is a small retailer specialising in bespoke leather goods, and all sales to date have been within the UK. In order to expand her customer base, she is launching a website and planning to sell through Amazon. Are there any VAT consequences she needs to consider?

New rules for payslips… Do you know what they are?

Payroll l

“New legislation around providing payslips came into effect in April 2019. We asked Martin Poole from Morrell Middleton, Chartered Certified Accountants on Clifton Moor, to shed some more light on the subject.”

HR EXPERT: VOLUNTARY OVERTIME & HOLIDAY PAY

HR l

My client had heard in the news about a recent “landmark” case on voluntary overtime and holiday pay. They want to know how this will impact their current business practices?

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