5 minute read.

Delays in filing the appellant’s tax return caused by delays in his previous agent giving professional clearance to his new agent and the time taken by HMRC in providing information to the new agent constituted a reasonable excuse for penalty purposes.

5 minute read.

Nisha Patel looks at the main rules of the new structures and buildings allowance.

The new structures and buildings allowance (SBA) regime has received parliamentary approval and came into force on 5 July 2019. SBA claims can be backdated to give relief on eligible costs incurred on or after the 29th October 2018.

3 minute read.

This Q&A answered by Arthur Weller was featured in Tax Insider Professional in September 2019. Start your free trial today to read all previous Q&As and articles.

5 minute read.

The Approved Mileage Allowance Payments system only applies where an employee uses his or her own car for business journeys. It does not apply where the employee has a company car.

4 minute read.

The taxpayer failed to meet all the criteria for a valid change of accounting date because the accounts of the business were for a 20-month period, and therefore the ‘18-month test’ condition was not satisfied.  

5 minute read.

Employers can also pay a tax-free allowance to employees who give lifts to passengers for whom the journey is also a business journey.   

The approved amount is found by the formula  M x R  

4 minute read.

Liz Zitzow looks at the case of Anson v HMRC on the subject of US/UK tax.

Background

It’s been a few years on since Anson v HMRC back on 1 July 2015. For those who don’t know or recall that case, here’s what happened: Mr Anson owned a limited liability company (LLC) which elected like most LLCs to treat itself as a partnership in the US.

The UK doesn’t recognise this and it results in double taxation despite our lovely US/UK income tax treaty. The tax paid by the individual on his partnership income in the US is not a deductible tax for the corporation’s tax return with HMRC and it’s not useful as a credit against his personal tax on the dividends since it’s for work, not dividends.

Stay ahead of the crowd with the latest planning tips and news for accountants and tax professionals. 

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3 minute read.

Employers can also pay mileage allowance payments free of National Insurance contributions as long as the amount paid does not exceed the approved amount. The mileage allowance scheme for National Insurance purposes is similar to that applying for tax purposes (see Tip 7), but with one key difference – the rate for cars and vans is 45p per mile regardless of the number of business miles driven.

2 minute read

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