An artist traded through a limited company. His family inherited his shares on his death and the company continued to make sales, organise exhibitions and publicity events, and produce additional sculptures from castings
A client trades through a limited company of which he is the sole director and employee. His wife owns 50% of the company’s shares. The client will attend a four-day skills update course in the US
Partnerships with corporate members: how will new rules affect your clients?
Hogg Joinery Ltd (TC3425)
HMRC have published further guidance on eligibility for the employment allowance.
It includes clarification of “functions either wholly or mainly of a public nature”. Where more than 50% of the work of a business falls into the category, the allowance cannot be claimed. For example, a doctor’s surgery for NHS patients comprising 90% of a GP’s work.
Other areas include:
The majority shareholder of a trading company sold his shares for cash, shares and qualifying corporate bonds in a new holding company
A limited liability partnership (LLP) consists of the taxpayer and a limited company. The company has taken the largest profit share but this is undrawn, while the taxpayer has an overdrawn account
The first complete tax year under real-time information (RTI) for the majority of employers worked well, with only one major problem, according to the taxman.
HMRC have been conducting weekly end-of-year teleconferences with employer representatives since 31 March, at the request of Payroll Alliance, the LexisNexis service.
The department says information for 2014/2014 flowed through to its systems as expected, with the only significant obstacle being the Government Gateway server crash on 11 April.
Rogate Services Ltd (TC3449)
N White (TC3354)
J R Swanston (TC3350)