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Where Taxpayers and Advisers Meet

Search found 1831 matches

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by wamstax
Thu May 02, 2019 3:00 pm
Forum: Tax Investigations and Enquiries
Topic: Not paid tax or filed tax return in 20 years. Help!
Replies: 12
Views: 3108

Re: Not paid tax or filed tax return in 20 years. Help!

As Jholm says you need to seek professionals advice as things aren’t always as bad as you fear. Best get the latest lease/ agreements and also the last 6 years bank account statements; mortgage statements and as much paperwork as you can gather for income and expenses for the letting and get a suita...
by wamstax
Mon Apr 08, 2019 4:50 pm
Forum: Business Tax
Topic: Flight training
Replies: 1
Views: 1472

Re: Flight training

No as it would potentially be seen as a personal cost or at the least a capital payment to acquire further personal skills
by wamstax
Wed Apr 03, 2019 8:26 pm
Forum: Capital Gains Tax, CGT
Topic: CGT Sale of UK Property & Purchase of Spanish Property
Replies: 7
Views: 378

Re: CGT Sale of UK Property & Purchase of Spanish Property

Please detail the uses (e.g. personal occupation; business use etcthe property was put to from acquisition to the present date. If any personal occupation please say if any other properties owned at the same time and their use during the periods owned
by wamstax
Mon Mar 11, 2019 1:45 pm
Forum: Business Tax
Topic: Limited company vs sole trader status?
Replies: 4
Views: 1715

Re: Limited company vs sole trader status?

You say that you’re vat registered by choice which would suggest that your turnover (& even possibly profits) is less than the current VAT registration limit. On that basis I would question the actual financial benefits to you from such a move taking into account not only the tax benefits but the ex...
by wamstax
Sun Mar 10, 2019 11:34 pm
Forum: Company Taxation
Topic: offshore company or not
Replies: 2
Views: 1822

Re: offshore company or not

Hi there
The offshore company may not be an offshore company for U.K. tax purposes.
If any worldwide company is controlled in the U.K. and therefore resident in the U.K. for Corporation Tax will be just as exposed to a U.K. Tax liability as any U.K. company
by wamstax
Sat Feb 23, 2019 10:46 pm
Forum: Business Tax
Topic: Best company structure for Legal Tax Avoidance - New Company
Replies: 4
Views: 1482

Re: Best company structure for Legal Tax Avoidance - New Company

Wouldn’t post it on a public forum that HMRC scans now and again
by wamstax
Thu Feb 21, 2019 2:09 pm
Forum: Capital Gains Tax, CGT
Topic: When do I realise my cgt gain
Replies: 2
Views: 295

Re: When do I realise my cgt gain

As regards CGT the date of disposal of any asset is generally the date an unconditional contract for disposal of the asset is entered into and the date of completion or date the cash received is not relevant
by wamstax
Mon Feb 04, 2019 6:19 pm
Forum: Tax Investigations and Enquiries
Topic: Ability of foreign, non-EU, jurisdiction to recover unpaid income taxes after 6 years has elasped
Replies: 6
Views: 2599

Re: Ability of foreign, non-EU, jurisdiction to recover unpaid income taxes after 6 years has elasped

You need to have a look at the respective Double Taxation Agreement and the equivalent of the MARD (please google it) procedures
by wamstax
Fri Feb 01, 2019 5:37 pm
Forum: Tax Investigations and Enquiries
Topic: Self assesment late registration penalties
Replies: 4
Views: 2117

Re: Self assesment late registration penalties

She needs to take advice and determine if she was previously asked to file a return and if not under what legislation are they seeking to penalise her with a fine. Merely being a director does not require registration for SA and this needs careful consideration. Also possibility of reasonable excuse...
by wamstax
Thu Jan 24, 2019 10:55 pm
Forum: Tax Investigations and Enquiries
Topic: Compliance Check Scope
Replies: 1
Views: 1870

Re: Compliance Check Scope

Clearly YOUR LTD company bank account is within your control and could therefore be requested if this was a reasonable request to review your personal compliance check. Assuming it was a reasonable request in relation to your personal compliance check then it would be in your power and possession to...

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