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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.    

 

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.

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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.  

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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.

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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.    

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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.  

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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. 

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Money laundering offenders to be named

Recent amendments to HMRC's enforcement measures mean that this year offenders will appear on the GOV.UK site. Here is the section relating to this issue as announced by HMRC 

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Corp Tax: Relief for qualifying charitable donations

Charitable donations are "non-trade" charges but how can they be relived against Corporation Tax profits? Bloomsbury Professional have the answers and provide some helpful examples

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Can I just sack someone for gross misconduct?

In short the answer is no. There is a procedure that has to be followed even of Gross Misconduct has occurred. But what is the procedure? the team at CronerTaxwise have the answers. 

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Tax Return Policies: HMRC's fatal flaw

It is not often discussed but HMRC do have the ability to suspend penalties. The fact this is rarely used is another matter altogether. Mark McLaughlin takes at look at this seldom publicised provision. 

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Capital Gains Tax: Exempt assets and gains

So what is or is not an exempt asset or gain for CGT purposes? Bloomsbury Professional Core Tax Annual "Capital Gains Tax 2017/18" sets them out with accompanying references to the relevant act.

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Money Laundering: Business changes requiring notification

If you are registered for money laundering with HMRC you have to keep them updated about certain changes made to your practice. Here is the definitive list of  the changes that they expect to told about.  

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Books and records

What books and records are required to be maintained by anyone completing a Tax Return and for that matter how long should they be kept? The answer is explained in this extract from Bloomsbury Professional's "HMRC Investigations Handbook 2017/18"

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Sexual Harassment

It's in the news an awful lot of late and it is an issue that deserves to be dealt with correctly and sensitively. The team from ACAS spell out an employers responsibilities.  

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Is VAT chargable to a US resident in preparation of a UK tax return?

Well is vat chargeable for work on the preparation of a UK Tax Return for a US resident? CronerTaxwise were asked the question and came up with the answer. 

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Card surcharge ban means no more nasty surprises for shoppers

From 13 January it is unlawful for retailers to charge extra to use a given card. Trading Standards are the enforcers 

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VAT on Construction: What exactly is a new building?

No vat is due on building a new house which most iof not all accountants know. However, what constitutes a new house? As this article shows it's never simple 

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Holiday Letting: At your service

BPR (Buswiness Property Relief) is a very valuable inheritance tax relief that is available to certain business owners. Do holiday letting qualify? usually no but as Mark says it could well be down to the services provided.

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Make it loud and clear

The team at Contractor Weekly stress the importance of using the white space on a Tax Return if you believe the TAAR don't affect you.   

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