by pau@pauweb.co.uk | Apr 21, 2021 | Business
Two companies owned by my client have an intercompany loan which has become partially unrecoverable due to a fall in value of the underlying investment property. Both the loan and the investment property use fair value accounting under FRS102. For tax purposes,...
by pau@pauweb.co.uk | Apr 7, 2021 | Business
A client of a partnership has decided that a service provided by one of the partners is within IR35 and would therefore be subject to deductions for tax and national insurance via the client PAYE. They have advised the partnership they can no longer maintain the...
by pau@pauweb.co.uk | Mar 24, 2021 | Business, Payroll
In a historical move, the Government announced on 25 November 2020 that the National Living Wage (NLW) would not only be increasing in 2021 but that the age threshold would be lowered also. A client wants to know what the HR consequences of this will be on their...
by pau@pauweb.co.uk | Mar 10, 2021 | Business
A couple both work for the same employer and are getting married. The employer wishes to give them a wedding gift totalling around £300. How can this be reported to HMRC so there is no tax charge on the gift to either employee? There are several methods for benefits...
by pau@pauweb.co.uk | Feb 9, 2021 | Business
I have a sole trader client that has a loss-making company and qualifies for incorporation relief under TCGA 1992 S162. What happens to the losses on incorporation? Under ITA 2007 S86 it may be possible that losses arising before the transfer may continue after...
by pau@pauweb.co.uk | Jan 26, 2021 | Business
My client has had a computation from HMRC for the CIS (Construction Industry Scheme) deductions they failed to deduct from payments made to a subcontractor for the current and last 6 tax years. What about the tax paid by the subcontractor on this income via Self...
