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 ICPA ACCOUNTANCY & TAX PORTAL

Welcome to the ICPA Accountancy & Tax Portal provided in conjunction with our partners Taxationweb.

Below is a list of our most important recent articles which you can read in full by clicking on the links.

Alternatively you can select a topic from the menu to the left of the screen to see our full list of articles for that topic. We hope you find the articles both useful and informative.    

VAT and Bicarb 

 

We are all familiar with "Jaffa Cake" vat case. Now Melanie Lord highlights another case along the same lines only this time it's all about Bicard.

 

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Money Laundering Defined

 

 

So what exactly constitutes Money laundering? Well the latest CCAB guidelines for accountants gives a definition and here it is. 

 

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HMRC Penalties - Luck of the Draw

 

Nothing in life is certain and that of course extends to tax law even when ruled on by a tribunal. Mark McLaughln looks at tribunal decisions that added to the confusion rather than giving clarity and certainty.

 

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VAT and Hot Food

 

 

Andrew Needham reports on another Vat case before the tribunal regarding hot food and vat. this time it's a Afro-Caribbean takeaway.

 

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Is HMRC being Un-'Reasonable'

 

 

Penalties for late tax return filing can hinge on a "reasonable excuse" but are HMRC reasonable in their deliberations? Mark McLaughlin takes a look.

 

 

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Money Laundering Offence: Failure to disclose

 

 

Two scenarios taken from the CCAB guidance on AML covering "Illegal Dividends" and "Overpaid Invoices" Do you need to make a SARs?

 

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Investors and Entrepreneurs - There's a difference

 

Mark McLaughlin looks at the rules that apply to Investors Relief and Entrepreneurs Relief and highlights 5 key differences.

 

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 How many times did HMRC miss the point?

 

Qdos Contractor cast their eyes over the very latest consultation on the IR35 rules and unsurprisingly they see lots of flaws.

 

 

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HMRC: Changes to 64-8 procedure in certain circumstances

 

HMRC have announced that those taxpayers seconded to the UK with a full NI number forms 64-8 or SA1 must be submitted via the online versions only.

 

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 Trading income: An unfair assumption

 

Every Accountant in Practice knows full well that HMRC love to ascribe unidentified bank lodgements to "Trading Income". Mark looks at how the Tribunal viewed this assumption in one case 

 

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Employing young workers in their Summer holidays

 

Summer is almost upon us. thank goodness some of you might say, and in this article CronerTaxwise look at the practicalities of employing young staff during their summer holidays.

 

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New rule for Taxation of termination payments

 

It's all change for termination payments and HMRC explain what the new rules say and why the change was made.


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Has HMRC refused your VAT registration

 

Our ICPA Vat Expert Melanie Lord reports about cases where HMRC have been refusing VAT Registrations because the trade hasn't yet started to which she replies "THIS IS PLAIN WRONG". If this has happened to your clients you should read this.

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Pre-letting property expenses - Tax misconceptions

 

Expenses incurred before the first let can be  extensive and expensive or not much at all, but can you claim tax relief? Lee reviews the situation in some detail and gives some good examples to help clarify the situation

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HMRC: The standard for Agents

 

What exactly do HMRC expect from Agents? Here is their standard that they will use to judge us. Worth having a copy just in case you upset them somehow.

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Every little tax break helps

 

Trivial Benefits : Mark McLaughlin takes a look at how employers can provide tax free benefits to their employees. It's not fortunes but as he says every little helps.

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Soon to be Summer: Summer holiday guidance 

 

After the bad weather of late including the Beast from the East it's only right that we start to look forward to our Summer Holidays. ACAS takes a look at some of the Summer holiday issues. 

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VAT: Lost, stolen, damaged or destroyed goods 

So exactly what is the situation if goods have been lost or destroyed? As every there is no straightforward answer but HMRC sets out their guidance

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Annual Allowance for pensions and tapering provisions

From April 2016 tapering provisions have applied to the annual allowance for pension payments. CronerTaxwise looks at how this works with some helpful examples.

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IHT: Don't look back in anger

Is it a Potentially Exempt Transfer or an Exempt Transfer or could it actually be a Chargeable Lifetime Transfer? Mark McLaughlin runs his eye over inheritence tax issues surrounding gifts.

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OPBAS, UWOs and more. A Money Laundering update

Richard Simms looks at the recent changes to the Money Laundering landscape in some detail. So if you don't know your UWO from your UBO then this is a good place to start.

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