Tax Return Adviser Ltd
Newsletters
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Capital allowances - optimum tax efficiency
Tax relief for buying equipment used in a business is given as capital allowances. Directors or their company can claim the capital allowances depending on who buys and owns the equipment. But which is the most tax efficient option?
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Were cars provided to partners a taxable benefit?
An individual owns connected businesses that run through a partnership and a limited company. The partnership provides each partner with a car that they also use for company business. Will this result in a taxable benefit in kind?
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Is tax payable on compensation for damaged property?
Last year a trader’s premises suffered extensive structural damage. The insurer compensated him before the repairs were made. If he doesn’t use all the money will he have to pay tax on it?
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HMRC moves to modernise customer tax accounts
HMRC is developing a single customer account which will receive data from third parties as well as the taxpayer. What’s likely to change?
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Do multiple businesses have to share the annual investment allowance?
The general rule is that every business is entitled to a capital allowances annual investment allowance (AIA). Does this mean that if there are two or more businesses the owner can claim an AIA for each?
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New scheme for selling services to EU consumers
A business sells services to consumers in the EU. The place of supply rules mean that they are subject to VAT in the customers’ countries. Does the business need to register for VAT in each one or is there a simpler option?
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