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Where Taxpayers and Advisers Meet

Search found 433 matches

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by RMC
Mon Aug 20, 2018 10:56 am
Forum: Income Tax
Topic: Working abroad
Replies: 6
Views: 846

Re: Working abroad

Under UK-Botswana DTA your son will continue to be tax-resident in the UK, however be may be still liable to local tax on his earnings, however short his stay. He should consult a local accountant, or his employer /engager might be able to advise. To preserve full NI contributions record (if needed)...
by RMC
Sun Aug 19, 2018 10:17 am
Forum: Capital Gains Tax, CGT
Topic: CGT rate - easy? query!
Replies: 2
Views: 634

Re: CGT rate - easy? query!

No.
by RMC
Sun Aug 05, 2018 1:22 pm
Forum: Company Taxation
Topic: Expenses and benefits: mobile phone handset contribution
Replies: 1
Views: 1146

Re: Expenses and benefits: mobile phone handset contribution

This is how this devious scheme could be attacked by HMRC under the Salary Sacrifice rules: Step 1: Reduce your salary by the payment you made for being allowed to choose a mobile. Refund to you and the employer tax and Class 1 NIC paid under PAYE. Step 2: Your employer if VAT-registered presumably ...
by RMC
Sat Aug 04, 2018 1:42 pm
Forum: VAT & Excise Duties
Topic: hmrc vat reciept lost
Replies: 1
Views: 1181

Re: hmrc vat reciept lost

If you spend tens of thousands on your credit card, HMRC will assume that this comes from some sort of business and demand tax and VAT.
If the spending was financed by other means, e.g. gifts from friends & family, you should have kept evidence of this.
by RMC
Thu Jun 14, 2018 7:39 am
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Late filing P11d penalties
Replies: 1
Views: 2138

Re: Late filing P11d penalties

There are penalties for late submission, £100 per 50 employees for each month or part month your P11D(b) is late.
There are also separate penalties for late payment of tax, as you note.
by RMC
Sun Mar 11, 2018 11:41 am
Forum: VAT & Excise Duties
Topic: Conversion of garage/storage
Replies: 2
Views: 1420

Re: Conversion of garage/storage

Indeed, construction services carried out on the indicated conversion will qualify for the 5% reduced rate of VAT. See para 7 of VAT Notice 708: buildings and construction where you also find various applicable conditions. Better still, if the building is sold, it will qualify for zero-rating and in...
by RMC
Sun Mar 11, 2018 10:21 am
Forum: Savings & Investments, Pensions & Retirement
Topic: ISA Allowance
Replies: 3
Views: 2175

Re: ISA Allowance

HMRC operate a powerful snooper system ‘Connect’ that gathers UK taxpayers’ (and non-taxpayers) financial data including that held by banks and financial organizations in British overseas territories and various other places, and flags individuals or entities in need of an investigation. According t...
by RMC
Thu Mar 08, 2018 12:27 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: backdated pay from closed tax years
Replies: 8
Views: 3726

Re: backdated pay from closed tax years

Please see
https://www.gov.uk/hmrc-internal-manuals/employment-income-manual/eim42202
by RMC
Wed Mar 07, 2018 9:41 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Transfer of sale of main Residence
Replies: 4
Views: 958

Re: Transfer of sale of main Residence

Inheritance Tax main residence nil-rate band is available where the deceased LEAVES his home to one or more of his descendants; gifting sale proceeds does not qualify.
by RMC
Wed Mar 07, 2018 2:58 pm
Forum: International Tax
Topic: UAE 5% VAT Rate
Replies: 1
Views: 689

Re: UAE 5% VAT Rate

No, you cannot recover foreign VAT (with the exception of some EU VAT recoverable from authorities in the relevant EU state).

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