Readers are reminded that HMRC do not send communications to tax payers by email. If you receive an email purporting to be from HMRC, it will be some sort of “scam” and should be ignored (deleted from your PC). Do not under any circumstances open any attached files or disclose any personal information. Typically, the email will offer you Continue Reading
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Taxable benefits 2013-14
Where employees are provided with living accommodation, a car or a van, any private use is usually subject to specific scale charges or other rules. This article considers the provision of two further classes of assets provided for an employee’s or director’s personal use. The cash equivalent of the asset provided is the annual value of the asset’s use, plus Continue Reading
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End of year tax planning 5 April 2014
Although we are now at the beginning of a new calendar year we are in the last quarter of the current tax year. Whether you are a business person, property landlord or pay significant amounts of tax as an employed or retired person there is now a short window of opportunity to examine your likely earnings for the 2013-14 tax Continue Reading
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Salaried members of LLPs
HMRC published the draft Finance Bill 2014 last month. Included were changes to the taxation of certain partnerships. This article discusses the introduction of a new type of partnership member for Limited Liability Partnerships (LLPs) that will commence 6 April 2014: the “salaried member”. The new status has been introduced to counter so-called “disguised employment” arrangements, where staff are elevated Continue Reading
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