A consultancy ends and a writing career begins, but is this the same business?
J Herbert (TC4395)
ACC Green (TC4427)
Can property expenses for a main residence be claimed against rental income?
Treatment of rent paid by a partnership to spouses
Allocating revenue and capital expenditure between the co-owners of a property
Can capital allowances be claimed on a car purchased personally for company use?
Treatment of compensation arising from a racial discrimination claim
G Bianchi (TC4442)
The annual end-of-year reconciliation for PAYE taxpayers has begun, to check that people have paid the right amount of tax in 2014/15. HMRC expect the process to be completed by October.
Tax calculations – P800s – will be issued, and people due a repayment will receive a cheque about two weeks after the calculation, according to the Revenue.
The Low Incomes Tax Reform Group (LITRG) has reissued its guidance on what taxpayers should do if they receive a P800. The information includes explanations on how a person may be able to reduce a tax bill or have it set aside.
Government plans to reduce administrative costs to business by £10bn will fail unless the complexity of the tax code is tackled, the Institute of Chartered Accountants in England and Wales (ICAEW) has warned.
Two of the UK’s three longest Finance Acts were enacted in the previous parliament, the ICAEW notes in a letter to the chancellor of the exchequer, George Osborne, while calling for a “one in, two out” principle to apply to tax laws.
P Manduca v CRC, Upper Tribunal