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.
£95 million for local broadband
In the Spring Statement the Chancellor announced the first wave of funding for local broadband. £95million for 13 arears. Check and see if where you live is one of the 13.
The Spring Statement in all its gory glory
13 papers were announced ad published by the chancellor in the Spring Statement, the bulk of which were Consultations. Lee Sharpe looks at them all with relevant links and analysis
The payment of CIS tax
CIS: What do you deduct? When do you deduct? why do you deduct? and finally how do you pay over the money you have deducted? All these questions are answered and more in this extract from Bloomsbury Professional's book "Guide to Taxpayers' Rights and HMRC Powers"
Rejected for the sake of £4!
A £4 addition error on a Partnership Tax Return enabled HMRC to claim penalties or so they thought until the Tribunal intervened. The new HMRC looking to maximise revenue on the basis of a £4 addition error.
Charities missing out on £600m extra funding
The gift aid small donations scheme makes it easier for charities to claim their donations top up. The message is clear don't miss out.
VAT registration threshold exceeded. But not for long
The team at CronerTaxwise look at another registration question that must have been posed many times. Can you be exempt if you exceed the registration threshold but future revenue will not?
Spring Statement 2018: What you need to know
You've probably read the summaries by your favourite commentators here is what HM Treasury say you need to know.
HMRC staff spend lots of time preparing for these meetings knowing full well they are not under tight budgetary control. So how should and adviser and their client prepare given they don't have the same luxury.
Are You Winding Me Up?
TAAR (Targeted Anti Avoidance Rules) were introduced to combat the practice of winding up a business, taking the reserves as capital not income and then the owner re-emerges in a new company doing exactly the same. Mark McLaughlin takes a good look at the rules.
Your Guide to Making a Disclosure
We all know how much HMRC love a campaign all of which usually offer a disclosure opportunity with a reduction in the penalties. However, what if there is no specific offer available? Here is HMRC's update on how to go about making a disclosure in the absence of a scheme
Input VAT on Cars: Again
Everyone wants a car and vat is a large part of the cost of providing a car so clients are always looking for a way to recover the vat. Here CronerTaxwise answer yet another question on the issue.
Trust and Company Service Providers: What exactly is one?
If you are a Trust and Company Service provider and are not supervised by one of the supervisory bodies you need to register with HMRC. So what exactly is a TCSP according to HMRC?
Penalties for Late Filing
Following on from the January filing deadline I’m sure there are lots and lots of late filing penalties flying around. HMRC have recently updated their fact sheet on the whole issue including how to appeal. Worth reading if you have been fined or have clients that have been fined
Meaning of an Intangable Asset
So what exactly qualifies as an Intangible Asset? Bloomsbury Professional have a good look at the situation in their Corporation Tax annual for 2017/18 and provide a detailed analysis
Lots been written about Employment Status mainly about Uber and Deliveroo but what do the employment specialist ACAS have to say on the issue? Here is the answer
A 'Reasonable Excuse'?
Russell recounts how he represented a client at the First-tier Tribunal in an appeal against late filing penalties. He explains that having an intimate knowledge of the case gave him an advantage.
Scottish Income Tax Rates 2018/19
On 20th February the Scottish Parliament set their tax rates for 2018/19. prior to the vote they published their fact sheet that underpinned their thinking. So if you have Scottish Taxpayers here it is.
VAT on Service Charges
The team from CronerTaxwise were asked about vat on service charges, should they include vat or not? As usual it's never a straightforward isn't it.
Compliance Checks: Making assumptions
It simply isn't enough for HMRC to use Business Economic Exercises to show that something LOOKS wrong with a set of accounts. Properly prepared balanced and accurate records are the best defence as tribunal results have shown.
UK VAT Claims - Payment is not enough
You might well make a payment that includes Vat and even if you are vat registered you can't always claim back the vat included. Melanie Lord explains it's all about who actually receives the goods or services.
Register Your Clients Trust
Lots of problems with this new digital initiative from HMRC not least among them is the quantum of information necessary to effect the registration. This latest update sets out everything you need to hand before you start your journey to registration and lot is a lot.