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13 September 2016
Put your client admin into motion.
- HMRC has finally launched its worldwide disclosure facility – the last chance for taxpayers to own up to disclosed income from overseas before the UK’s adoption of the common reporting standard. Even if your clients are unlikely to need to avail themselves of this opportunity it would be worth sending a letter outlining what it involves.
- When one person’s commitment to a company is crucial to attract outside investors as was the case in Dyer make sure that there is a formal contract to this effect otherwise the company is likely to have little value.
- Be very careful when attempting to use time apportionment to determine which profits fall in which set of accounts. In significant cases it is worth the time and effort to allocate income and expenditure to the right set of accounts.
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