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Where Taxpayers and Advisers Meet

Search found 1831 matches

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by wamstax
Mon Sep 24, 2018 2:33 am
Forum: Tax Investigations and Enquiries
Topic: Self assessment employed
Replies: 1
Views: 1716

Re: Self assessment employed

Certainly seems to be something wrong if you did not receive relevant forms that would have advised your ability to appeal matters within appropriate 30 day time limits. HMRC are not always correct and engaging somebody that knows what they are doing is certainly the best way forward. There are circ...
by wamstax
Thu Sep 20, 2018 1:04 pm
Forum: Capital Gains Tax, CGT
Topic: What disclosures do I need to make on SA to minimise risk of HMRC enquiry?
Replies: 3
Views: 519

Re: What disclosures do I need to make on SA to minimise risk of HMRC enquiry?

In case it is relevant HMRC might not be able to open an enquiry after 12 months from filing (or up to 15 months of late filed) however they have the powers to make assessments to recover any unpaid tax for up to 4 years after the year of assessment ( and in case of careless or deliberate tax evasio...
by wamstax
Sat Sep 01, 2018 10:24 pm
Forum: Company Taxation
Topic: Ltd company paying for subcontractors fuel (subcontractors vehicles)
Replies: 2
Views: 506

Re: Ltd company paying for subcontractors fuel (subcontractors vehicles)

Why would you be paying your subcontractors expenses? Would you be doing the same for employees and doesn’t this smack of them being in truth nothing more than employees
by wamstax
Fri Aug 31, 2018 9:48 am
Forum: Tax Investigations and Enquiries
Topic: Married couple and property income tax nightmare.
Replies: 6
Views: 2634

Re: Married couple and property income tax nightmare.

Ok so cutting to the chase the Non-declaring spouse has a bit of a problem in that clearly that person must have known that tax was due on the income from property and yet did not declare the source and income for tax purposes. It is not free from doubt given that some properties might be solely own...
by wamstax
Sun Aug 12, 2018 9:12 pm
Forum: Capital Gains Tax, CGT
Topic: Sale of company with overdrawn directors loan
Replies: 2
Views: 373

Re: Sale of company with overdrawn directors loan

Overdrawn loan account increases worth of company so you are chargeable on the gross sale price of the shares NOT the net proceeds received
by wamstax
Thu Aug 02, 2018 10:31 am
Forum: Capital Gains Tax, CGT
Topic: CGT Liability after selling a house
Replies: 4
Views: 499

Re: CGT Liability after selling a house

Just as a side thought if you and your wife ever lived in the Property as your sole main residence then there could be the opportunity for certain tax reliefs given such occupation and presumably letting so then you’re probably best getting and paying for a specialist
by wamstax
Thu Aug 02, 2018 10:26 am
Forum: Capital Gains Tax, CGT
Topic: CGT Liability after selling a house
Replies: 4
Views: 499

Re: CGT Liability after selling a house

Suggest you do it as soon after the 5th April as you can do so that you know if there’s a problem in your calculations as soon as possible and also start HMRCs 12 month window of opportunity for enquiringly into your return and calculations
by wamstax
Tue Jul 31, 2018 3:26 pm
Forum: Business Tax
Topic: tax refund query??
Replies: 4
Views: 1110

Re: tax refund query??

You also need to contact HMRC as they may get to the root of the problem if it is an internal fraud
by wamstax
Tue Jul 31, 2018 10:56 am
Forum: Business Tax
Topic: tax refund query??
Replies: 4
Views: 1110

Re: tax refund query??

This needs urgent attention I would be very careful and inevitably you have to wonder why it would appear in your mobile banking but not be duplicated in your online internet banking. I trust that if it seemed to come in you did not require to give any personal financial information or pin numbers e...
by wamstax
Sun Jun 24, 2018 9:56 pm
Forum: Capital Gains Tax, CGT
Topic: Is it Trading income or capital gains
Replies: 1
Views: 483

Re: Is it Trading income or capital gains

A lot would depend on what he did with the property since he inherited it but as the property was inherited and not acquired to refurbish and make a profit from selling there has to be an argument that it is not trading. The method of acquisition would certainly lean towards CGT as opposed to tradin...

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