Hi Tax Dragon, please would you point me to the relevant tax parts within s62 / 63 as I am struggling, again with regard to the other tax consequences perhaps you could explain what you are referring to. Apologies this is not an area I come across very often.
Hi Montrose, thanks for the feedback. I've had a look and don't feel too concerned albeit the client would be made aware if we were to go ahead. Other than this legislation are you aware of any other issues with the planning.
Thanks
Thanks, reviewed this myself and came to conclusion that stock should have been included - just wanted to make sure there wasn't something silly I was missing.
Apologies, my query might not be clear - our client provides the service to other companies employees, my concern is that the minibus will be parked outside our clients house (there are no company premises) and therefore potentially HMRC would argue a BIK on our client as it is available (being outside his house) despite not being used privately at all. Hope that makes sense.
Thanks
My answers
Hi Tax Dragon, please would you point me to the relevant tax parts within s62 / 63 as I am struggling, again with regard to the other tax consequences perhaps you could explain what you are referring to. Apologies this is not an area I come across very often.
Thanks Duggimon, that was my understanding as well - I just couldn't see anything in all the articles etc. confirming this and was going mad !!
Hi Montrose, thanks for the feedback. I've had a look and don't feel too concerned albeit the client would be made aware if we were to go ahead. Other than this legislation are you aware of any other issues with the planning.
Thanks
Thanks Tax Dragon, I'm probably missing something here but would I need to worry about S431 if there are no restrictions to the shares ?
Probably !!
Thanks, reviewed this myself and came to conclusion that stock should have been included - just wanted to make sure there wasn't something silly I was missing.
Thanks, my thoughts exactly - just wasn't sure I was missing something.
Seeds, fertiliser and also farm contractors had been paid.
Hi posep
Apologies, my query might not be clear - our client provides the service to other companies employees, my concern is that the minibus will be parked outside our clients house (there are no company premises) and therefore potentially HMRC would argue a BIK on our client as it is available (being outside his house) despite not being used privately at all. Hope that makes sense.
Thanks
Thanks Les, ahh well guess they'll be charging the VAT.