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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.

Scottish Tax Rates 2019/20: What do they mean for Scots?

The Scottish Parliament has decided on their rates and thresholds for 2019/20 and the team from LITRG take a look at the outcome for those Scottish Taxpayers.

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HMRC's ADR Procedure

The ADR is free and has been around since 2013 after a two year trial period. If you have an investigation that's stalling this may help.

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Common Business Mistakes to Avoid

Lee Sharpe turns his attention to those common mistakes and misconceptions that clients make in the hope that they can be avoided.

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Keep Private Records Private from HMRC

Mark looks at HMRC's powers to see and examine taxpayer's private records. "Reasonable" is a term often used in this context and Mark casts his eye over this as well.

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Ramadan and Your Staff

Ramadan 2019 is upon us and this is a timely reminder to employers about the implications for them and their staff.

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Charity Fundraising and Vat

Helping out a charity with the profits from a fundraising exercise by well meaning individuals can have a Vat implication as this questioner found out when they asked CronerTaxwise for help.

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Amortisation Relief: To what assets does it apply?

Amortisation relief applies to amortisation on the acquisition of "relevant assets". But what are "relevant assets"? the team from CronerTaxwise have a look.

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2018 was a record high for new company formations

2018 was a record breaking year for company formations but as Inform Direct point out for every 100 formed 75 existing ones closed.

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Tax has changed in Wales: Did you spot a "c" in your tax code?

Did you spot a "C" in your tax code in this month's payslip? if not and you are living in Wales you need to have a read. 

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IHT: is your property related?

Just how do you value a joint interest in a property for IHT purposes? Mark McLaughlin has a look and as ever it's never simple or clearcut.

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Compliance Checks: HMRC Fact Sheet

The latest fact sheet from HMRC on what to expect from a Compliance visit. Well worth a read to see exactly what they can or could do.

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Sign up a client to MTD4Vat : Info Needed

This is the latest flowchart provided by HMRC on the business information an Agent will need to have to hand if they wish to sign up a client for MTD4VAT.

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HMRC Letter regarding upcoming AML Registration fee increases

1st May sees significant increases in the cost of AML supervision from HMRC. Here is the letter sent by HMRC explaining what and why.

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Wages for the Children - What's the Purpose?

Payments to family members is always on HMRC's radar as it were but Mark explains that that the way forward is to follow correct procedures.

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Interest on Late Payments

What exactly are the rules for charging Interest on late payments received? This article sets them out in detail.

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Business Property Relief: Traps to avoid

Business Property Relief (BPR) is a valid relief for inheritance tax purposes. However, as Mark shows there are traps and pitfalls ahead for the unwary.

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Agency Workers: What employers need to be aware of

So, what exactly is an Agency Worker and what employment rights do they have if any? The team from CronerTaxwise set out what employers need to know.

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An Alarming VAT Decision

Melanie looks at the judgement in the Sacutia Healthcare Ltd case and concludes that a customer apparently needed to be sure that a supplier's sales invoice procedure is all it should be. Exactly how this can be done is what makes the case so alarming.

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Flat Rate Scheme: The Devil's in the detail

The FRS for vat was supposed to be all about simplification and ease of process. However, as Julie says there are pitfalls for the unwary. So don't get fall into one one them. 

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Time is not on your side

Lee takes a look in some depth at Capital Gains on UK Property and warns residential landlords to get to grips with the new regime.

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Absence

The team from ACAS turn their attention to sick leave and covering how to manage staff and what to do if staff are absent from work due to sickness.

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 Unlawful Dividends: What are the Implications?

Paying dividends in excess of distributable profits causes problems for the Company paying the dividend and the recipient as this article by CronerTaxwise details.

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Overdue Vat hits 5 year high

A 22% increase in unpaid vat is not good news for the government. A recent survey believe the increase is in part due by late payments by larger businesses to smaller businesses. Will the newly created Small Business Commissioner be able to help?

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Spring Statement 13 March 2019

So what exactly did the Chancellor say? and then in the written statement it's announced that MTDfB is to be deferred again but to when?

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Accountants are Important

Accountants are important and the work we do is complex, challenging and far reaching. We need to say it more often especially to those that actually don't understand what we do but yet believe they know what we SHOULD do.

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Cash Accounting for Landlords : A detailed review

Rental Tax expert and Taxationweb Managing Editor turns his attention to Cash Accounting for Landlords in some detail and is far from convinced that it is a "simplification" or the right option.

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Letter to EU & ROW traders if no deal

The latest letter sent out by HMRC to businesses that trade in goods to the EU and beyond spelling out the steps necessary in a no deal scenario.

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