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17 November 2015
Put your client admin into motion.
- Have you signed up to participate in HMRC’s agent online self-serve? If not, why not think about signing up so that you can help shape this important service? The deadline for advisers interested in taking part in this trial is 11 December (click here).
- The decision in Redway confirms that sales made by an unregistered business are exempt from VAT and therefore give the trader no entitlement to an input tax claim on related costs (click here).
- The Office of Tax Simplification and HMRC consult regularly on various areas of taxation, usually before the introduction of legislation. Do you take part in such consultation? If not, doing so might enhance the standing of your firm by showing active engagement in the reform of the tax system (click here).
- The Treaty on the Functioning of the European Union prohibits member state authorities from granting state aid that distorts competition and trade in the EU bloc. The term “state aid” is interpreted widely and can include tax breaks and exemptions (click here).
- Pension tax relief – the chancellor just cannot leave it alone. Make sure that clients maximise their annual allowance where possible, remembering to use any outstanding carry-forward allowances where possible (click here).
- PAYE code numbers should be reviewed when employees start to receive income or benefits that are not taxed at source. A K code may be beneficial, but note that these are not automatically updated by HMRC when personal allowances are changed (click here).
- When making a main residence election, there is no obligation to nominate the property that is actually the taxpayer’s main residence. All that is required is the property must be in use as a residence of that individual before it can be validly nominated (click here).
