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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 Vat Inspector Calls

Vat Inspections are a fact of life for a Vat registered business. The team from CronerTaxwise take you through preparing for the visit, what to look out for in advance of the visit and how handle and act on the day of the visit.

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Furnished Holiday Lets ; Conditions that must apply

As summer arrives (hopefully) and the school holidays beckon and last minute holidays are being booked. Do you have FHL clients? Do they fulfil the conditions? Do they even know the conditions? Taken from Bloomsbury Professionals Buy-To-Let handbook (Provided free to all ICPA members) here are those conditions. 

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Overtime

As staff are on holiday in the Summer you may need other staff to cover which may involve some Overtime. So, what are the rules about Overtime? The ACAS team have the answers.

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Penalties for failure to notify

The latest updated fact sheet from HMRC sets out when you have to notify, what happens if you don't, how a penalty is calculated and how you might be able to reduce it.

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Let's not get married!

If tax planning is a consideration when thinking about getting married than this article may help.

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TalkSPORT and IR35

Another celebrity IR35 case and another loss at Tribunal for HMRC. Andy Vessey covers all the important aspects of the case which is worth a read if you or your clients are involved in or may come under the IR35 regulations.

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Business Loans Write-Off: Not all bad news

You've lent money to your children's business and sadly it has not gone well. What happens to your loan when it's irrecoverable? any chance of some tax relief? Mark McLaughlin takes a look.

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Don't forget to renew Tax Credits

it's July which means that anyone in receipt or Tax Credits needs to renew by the end of the month or risk losing their benefit. If you have clients, family or friends in these circumstances do remind them. 

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Teaching Swimming. Vat Exempt isn't it?

If ever you want to see just how crazy vat is sometimes then take a look at this scenario that came across CronerTaxwise's desk recently.

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Knowing your customer

Online verification is a staple of any AML procedure but can it work as a stand-alone identity verification process? Richard Simms of AMLCC has a detailed look.

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Phone spoofing & HMRC

Credit where credit is due  because HMRC have worked hard to safeguard taxpayers from phone spoofing as this article highlights but we should still be on our guard.

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FRS for Vat and Pre-Registration Input Vat

We know there are restriction on claiming input vat under the flat rate scheme but what about pre-registration input vat? CronerTaxwise have a look and set out the rules.

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London's property a 'weak link' in fight against money laundering

Turning illicit money into clean money via rents and property sales is proving a major attraction especially in London as this report shows.

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How to apply for an Agent Services Account if not UK based

The latest guidance from HMRC on how to apply for an ASA if the applicant is non UK based.

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Taxpayer had no reason to tell HMRC new address(s)

Taxpayer penalised for late filing caused by employer failings won his case at Tribunal because he never knew he had to file a return as he had moved several times. Why they brought the case given the circumstances and his reaction as soon as he found out only HMRC can answer. Yet again one questions whether anyone actually looks before they fine.

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A Reasonable Approach?

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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HMRC's Fit & Proper Test

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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5 Tax Tips for the low Income Sefl-employed

As it says in the title the LITRG give their 5 top tips for the low income self-employed.

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Business Travel and the 24 Month Rule

Is a workplace temporary or not? and when does one be come the other? Andy Vessey takes a good long look at the whole travel to and from work situation.

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It's World Cup Footie time Again

This month it's World Cup football time again and this time it's the women's turn to hopefully shine. What if staff want to watch during work hours? what if some get a bit carried away by the excitement? The team from CronerTaxwise take a look.

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Crime Related Payments: deductible?

Payments to get business are they deductible? This extract from the Bloomsbury Professional A - Z of Business Tax Deductions covers the situation.

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Interest on Overdue Self Assessment Tax

Don't pay your tax on time and you will be charged Interest, it's a fact. However, just how is the interest calculated? This extract from "The guide to Taxpayers Rights & HMRC Powers" explains all.

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What are the rights about Jury Service?

A staff members is called for Jury Service do they have to be paid? The team from CronerTaxwise have a look.

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Is HMRC too uncompromising when it comes to MOO?

MOO is as Contactors will know is "Mutuality of Obligation" and it seems that HMRC are digging their heels in when it comes this concept. Who'd have guessed!

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"WhatsApp" data breach: Business Considerations

The recent announcement of a data breach involving "WhatsApp"  is looked at by the team from CronerTaxwise and how businesses need to react.

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What expenses can be claimed for a buy-to-let property business

Taken from the Bloomsbury professional Buy-to-Let Tax Handbook this extract gives a comprehensive list of deductible expenses.

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Making HMRC Prove it

If HMRC don't follow the correct procedures when it comes to fines and penalties then they cannot enforce them as this article from Mark McLaughlin shows.

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