Tax | AccountingWEB

Tax

MPs on the Commons Public Accounts Committee last week warned that HMRC risked falling short of its ambitious targets for raising extra revenue due to staff cuts and inefficient technology project

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Could someone please help with the following; Company A is made up of 4 directors, each with a 25% share holding. A second ltd company is formed, Company B, made up of the same four directors.

Are the premiums payed for directors and employees towards a death in service policy taxable? Does the tax treatment change depending on the structure or type of policy?

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An employee (or director) can be paid up to £30,000 on termination provided this payment is not contractual.

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This situation has been simplified so as to focus on the key issue!

Mr & Mrs Client own their house on which there is no mortgage.

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I'm trying to develop an ultimate list of 'extra' tax deductions which you could claim for clients, these would be items which a client may not think would be qualifying themselves.

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I use Sage sorftware for personal tax returns. My client has a large brought forward loss in 2011/12 from an unrelieved FHL loss in 2010/11.

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HMRC has failed in its attempt to over turn the football creditor rule under which English FA members pay their football debts before any other creditors, the

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Client acquired a canal barge on 1 January 2010 for £60K. Spent a year or so doing it up, until the trade of letting the barge out for private hire canal cruising commenced on 1 January 2012.

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