Member Since: 30th Apr 2008
23rd Aug 2018
He should definitely call Michael Cohen.
9th Jul 2018
Wholly and exclusively for the benefit of the farm business?
I think you'd be hard pushed to argue that it wasn't, unless the farmer has some sort of stake in the handyman's business and stands to benefit from it indirectly by improving his skills.
By providing the training the farmer is reducing the chances of the chainsaw operator causing damage to his property or doing something that results in the farmer getting sued.
2nd Jul 2018
I think the issue with out of hours calls isn't so much whether you answer them or not, but one of client perception.
If a client has your mobile number, some of them will expect to be able to contact you at all sorts of weird and wonderful times and get a response. I've had it happen to me and I'm sure others have too. Having a landline number that auto-forwards client calls to your mobile reduces that somewhat, as clients won't expect an office DDI landline to be answered at 10:30 on a Saturday night.
2nd Jul 2018
There may be some dough to get back, but first they knead to prove it...
23rd May 2018
4th May 2018
If the move to the flat has the intention of being permanent, they are physically living there, the post has been redirected etc then it sounds on the basis of it like the flat has become their PPR.
If the move has taken place over a period of time, e.g. there was a spell where they were flitting between the two properties to undertake renovations, then might you want to consider an election to fix the date at which the PPR changed?
26th Apr 2018
Might it be related to the tax deducted at source for non-resident landlords?
Bit niche if it is, but it would have an impact on cash flow.
10th Nov 2017
If these are losses from before 1 April 2017, they are only available to set against profits of the same trade.
Losses arising after 1 April 2017 can be set against total profits, not just specifically those of the same trade.
6th Nov 2017
The section of gov.uk which relates to property rental (https://www.gov.uk/renting-out-a-property/paying-tax) suggests if your rental income is below £2,500 you need to contact HMRC to tell them and if your rental income AFTER ALLOWABLE EXPENSES is above £2,500 you must fill in a tax return.
Seems to contradict the tax return page, which says you have to fill in a tax return if your untaxed income exceeds £2,500.
Best advice is to always ring HMRC, ask, and take a note of who you spoke with.
6th Nov 2017
The UK has a tax treaty with Malaysia which determines how cross-border income will be taxed. UK company dividends paid to a resident of Malaysia for example, will be taxable income in Malaysia.
Your ISA is effectively frozen after the end of the tax year in which you cease to be a UK resident. You can't add any more to it until such point as you move back to the UK.
When you cease to become UK tax resident is going to be determined by HMRC's Statutory Residence Test. It's not as simple as ceasing to be resident on the day you leave the UK, it will also include other ties to the UK such as whether you continue to have a home here.
You might want to take advice from someone with more experience of dealing with international issues than your current accountant.