Enter Your E-mail

Taxation Practitioner by Mark McLaughlin ATII TEPA 'major change in the nature or conduct of the trade' can result in the application of certain anti-avoidance provisions. But what is a 'major change', and what are the tax implications?(Major change in the nature or conduct of a trade) 'If tax legislation was a colour, it would have to be grey', commented a rather bemused client. As a chartered tax adviser, I could certainly relate to that analogy - and sympathize with his sentiments! The client ... Continue Reading

Taxation Practitioner by Mark McLaughlin ATII TEPWhat are the badges of trade, and how did they evolve? The decision as to whether a transaction gives rise to a trading or capital receipt can be significant, particularly where the opportunity exists to take advantage of available CGT reliefs and exemptions.'How's the studying going?' I asked my faithful tax assistant, Alf Wright. 'Not bad, boss' he replied, in a seemingly automatic manner. The badges of trade would probably be on page one ... Continue Reading

This article is an extract from our specialist tax report IR35: Tax Tips for Contractors.  The IR35 rules are anti-avoidance rules, which were introduced with effect from 6 April 2000 in respect of services performed on or after that date. The measures were introduced to target workers predominantly in the IT industry who resigned from their job on a Friday and started in a self-employed capacity on the following Monday in essentially the same role. However, their application is not limited ... Continue Reading

Our limited time offer for accountants and tax professionals is now live! Written for sole practitioners and small accounting practices, start off September with access to the best strategies and insights in the industry, at an affordable price for smaller firms.  £100 discount for the first year £50 lifetime discount thereafter BONUS 1 - FREE download of the last 12 issues - over 70 articles BONUS 2 – FREE ring binder BONUS 3 – FREE new e-book 101 Practical Tax ... Continue Reading

The government has today published an update on Finance Bill 2017, which confirms that all policies that were cut from the March 2017 Budget in order to make it through Parliament before the General Election, will now be re-instated and take effect from April 2017 as originally planned: “The Government confirms that intention. It expects to introduce a Finance Bill as soon as possible after the summer recess containing the withdrawn provisions. Where policies have been announced as applying ... Continue Reading

RSM UK's Philip Munn has advice on how best to prepare for a "No-Deal Brexit" from a VAT perspective. The buying and selling of goods with our EU trading partners has attracted the most attention in since the prospect of no-deal became all too real. For organisations that only trade with EU counterparties at present, obtaining a UK EORI number is the simplest but most important first step to prepare for Brexit.  On 21 August, the Chancellor announced that HMRC will automatically ... Continue Reading