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Where Taxpayers and Advisers Meet

Search found 1806 matches

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by wamstax
Wed Jan 16, 2019 1:35 pm
Forum: Capital Gains Tax, CGT
Topic: CGT whilst member of HM Forces
Replies: 7
Views: 119

Re: CGT whilst member of HM Forces

Answer is NIL if you had no other property in respect of which you concurrently claimed MRR
by wamstax
Tue Jan 15, 2019 5:31 pm
Forum: Capital Gains Tax, CGT
Topic: CGT whilst member of HM Forces
Replies: 7
Views: 119

Re: CGT whilst member of HM Forces

SSections 222 (8A) to (8D) set out that living accommodation is job related if,

it is provided by reason of the individual’s employment, or by reason of the employment of the individual’s spouse or civil partner,
by wamstax
Fri Jan 11, 2019 12:13 pm
Forum: Tax Investigations and Enquiries
Topic: Statutory audits + invoices for services from tax haven company
Replies: 2
Views: 86

Re: Statutory audits + invoices for services from tax haven company

Anything to do with opaque tax havens can put up a red flag. It would be impossible here to consider all the angles and just because there is a Seychelles 🇸🇨 connection doesn’t necessarily mean that you are dealing with a Seychelles entity. The fact you need to think about it tells a lot.
by wamstax
Fri Dec 14, 2018 1:38 pm
Forum: Tax Investigations and Enquiries
Topic: Information HMRC have access to
Replies: 2
Views: 280

Re: Information HMRC have access to

To answer your example - Yes they receive U.K. and overseas details of chargeable events
by wamstax
Mon Dec 03, 2018 5:42 pm
Forum: Company Taxation
Topic: Company miles in own car
Replies: 1
Views: 149

Re: Company miles in own car

If the company purchases a car you have the complication of trying to argue that it cannot be used privately and is solely for business to avoid taxable car benefits and/or fuel benefits. If however you own your own vehicle and use it for business purposes then the the company can pay you the tax fr...
by wamstax
Fri Nov 23, 2018 1:35 am
Forum: Company Taxation
Topic: Have your cake and eat it?
Replies: 6
Views: 350

Re: Have your cake and eat it?

If the company has little by way of assets to meet the settlement apart from the overdrawn DLA then inevitably the Inspector/Officer would have to satisfy themselves that the director had the ability to fund what after all would probably have to be a joint and several offer by the company AND the di...
by wamstax
Fri Nov 23, 2018 1:16 am
Forum: Company Taxation
Topic: Have your cake and eat it?
Replies: 6
Views: 350

Re: Have your cake and eat it?

A SOA is a multiple purpose document. Yes it can be used to provide a starting point for any future compliance review but it is also used to provide a review document that can satisfy HMRC that they have got a reasonable result given known and certified assets and liabilities and heaven forbid if th...
by wamstax
Wed Nov 21, 2018 10:51 pm
Forum: Capital Gains Tax, CGT
Topic: Differing advice on CGT on sale of garden.
Replies: 4
Views: 213

Re: Differing advice on CGT on sale of garden.

Hi Maths
I wouldn’t go as far as to say the gain would be liable to income tax if all that was done was apply for planning permission. However agree that MRR impossible if all the facts related to HMRC and HMRC looking to take up CGT and MRR cases of recent times
by wamstax
Thu Nov 15, 2018 7:05 pm
Forum: Company Taxation
Topic: Have your cake and eat it?
Replies: 6
Views: 350

Re: Have your cake and eat it?

A contract settlement can only be achieved where both sides are satisfied the the parties to the contract have the ability and wherewithal to fully complete the contract.
by wamstax
Thu Nov 15, 2018 7:02 pm
Forum: Company Taxation
Topic: Have your cake and eat it?
Replies: 6
Views: 350

Re: Have your cake and eat it?

I may also be missing something but how have you got to an agreement on company profits without any consideration of the directors prrsonal means and asset position? Were there for example no understatement of company profits attributable to director extractions? I would normally expect that where t...

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