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Action points, issue 4516

01 September 2015
Issue: 4516 / Categories: For Action , Admin

Put your client admin into motion.

  • Take the opportunity to make your views heard on HMRC’s termination payments consultation by completing Payroll Alliance’s online survey. This is an area that most advisers will encounter and the ramifications of the consultation could be significant.  
 
  • Make sure that business transactions even informal ones are properly documented and carried out on commercial terms to ensure the correct tax treatment. Failure to do this could result in lost tax reliefs and even penalties (see Gdeco).   
 
  • When acting on behalf of sporting testimonial committees ensure that the tax treatment of receipts and payments has been agreed before the funds are distributed. Committee members may become liable to unpaid tax.  
 
  • The new rules for claiming finance costs on rental properties will affect many landlords. Why...

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