Member Since: 10th Aug 2005
7th Jan 2020
I can't log into my client services account but have just submitted a SA return successfully and received a Gateway Confirmation email?
According to Gov.uk's Service and Availability Issues for Self Assessment there is "Full service available"
14th Nov 2019
I will put your concerns to the trust's solicitors. In the meantime could we deal with my original question on the hypothetical basis that it is a discretionary trust.
13th Nov 2019
The settlement was set up 20 years ago as a discretionary trust and has been treated as such by HMRC for the whole period. There is no compulsion on trustees to pay out capital or income and there is power in the trust deed to add more beneficiaries. What makes it a bare trust?
13th Nov 2019
Tax Dragon wrote:
Sole beneficiary? Discretionary trust? I mean, the answer to the question is yes, but are you sure that you have a discretionary trust?
The settlement was set up by a solicitor with two discretionary beneficiaries. One of these was subsequently removed by deed. The question was, are there any issues I should be aware of. If the answer is yes could you elaborate please.
10th Sep 2019
My client went with Quickbooks online in the end so can't help really.
21st May 2019
I agree that thare are two ways of looking the cancellation fee:
1) There is a second supply of administrative services, with VAT due; or
2) The cancellation fee remains an out-of-scope compensation for loss.
In this particular case the client's T&Cs state "Providing you give more than 7 days’ notice (includes weekends and bank holidays) you will receive a full refund as a Credit Note, less a Cancellation Fee of 20% of the cost of the event".
As you have said, the treatment of the cancellation fee is open to interpretation. Is it possible that changing the wording of the T&C's to state that the deduction is a compensation for loss would put it out of scope?
27th Mar 2019
Up until recently, my wife has been a dual national of the US and the UK but has been resident in the UK since a child, only having visited the US for short holidays. Although non-resident, as a US citizen she has had to file US tax returns every year and continued to be liable to US taxes on her worldwide income. The US have allowances for foreign earnings and double taxation but it is a complex area and needs specialist advice. Gift/Estate/Inheritance Tax is another area that requires specialist planning.
16th Nov 2018
Do you intend to consume them whilst renovating an eligible dwelling that has not been lived in during the 2 years immediately before your work starts?
27th Apr 2018
I attended a course run by Safonda earlier this week - http://www.safonda.co.uk/training/
The three and a half hour course was provided free by Business Wales and was excellent -https://businesswales.gov.wales/ It has saved me hours of reading and searching and, although the course wasn't specifically geared to accountancy practices, I was able to ask questions pertinent to my own situation. I now have everything I need to comply. If you're not situated in Wales, try contacting your local FSB, they may be offering similar courses.
15th Mar 2018
I take it from the absence of replies that there are no Pandle Partners out there!