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02 May 2017
Put your client admin into motion.
- Always double-check payroll information to ensure it is correct and complete before sending it to HMRC. The department has had considerable success investigating this area with small companies as likely to be targeted as larger ones.
- As was highlighted in the First-tier Tribunal’s comments in Hylton Hill taxpayers cannot claim computer illiteracy as an excuse for not knowing about changes to tax rules. Impress on clients who for example look after their VAT or PAYE the importance of checking GOV.UK for updates.
- When a commercial property is sold check whether this was or could be used as a residential dwelling. Care may be needed to determine the rate of capital gains tax that will apply and remember that allocation of entrepreneurs’ relief may be relevant.
- Bear in mind the proposed relaxation...
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Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
