Has anyone here , who uses CT software other than the IRIS Taxfiler product, also received this HMRC letter ?
I'm trying to find out if the error came from the HMRC software specifications, or whether it is restricted to that one product.
The loss referred to needs some analysis, and further information in order to give a sensible answer.
How much of the loss relates to the property and how much to the business? Was the hotel business sold as a business or were the individual assets sold? Capital gains and losses incurred by partnership will be gains or losses of the individual partners, as the partnership is transparent for CGT puposes.
A capital loss can not be set-off against income of the partners or against any income.
It is definately worth buying -Pete Miller is an excellent writer.
But check if you have access online already. If you are a member of the ICAEW you may already have access to the Bloomsbury Profession tax library online through the online ICAEW library. https://www.icaew.com/technical/practice-resources/running-your-practice...
My answers
Its one of the unanswered questions I am addressesing in my next article.
Has anyone here , who uses CT software other than the IRIS Taxfiler product, also received this HMRC letter ?
I'm trying to find out if the error came from the HMRC software specifications, or whether it is restricted to that one product.
The 2017 changes to the taxation of salary sacrifice (also known as optional remuneration arrangments) do not apply to low emission cars, see Employment income manual: https://www.gov.uk/hmrc-internal-manuals/employment-income-manual/eim44060
See my article : https://www.accountingweb.co.uk/tax/hmrc-policy/sunak-aligns-nic-and-inc...
Sorry about the, misleading headline, I didn't write that.
The loss referred to needs some analysis, and further information in order to give a sensible answer.
How much of the loss relates to the property and how much to the business? Was the hotel business sold as a business or were the individual assets sold? Capital gains and losses incurred by partnership will be gains or losses of the individual partners, as the partnership is transparent for CGT puposes.
A capital loss can not be set-off against income of the partners or against any income.
It is definately worth buying -Pete Miller is an excellent writer.
But check if you have access online already. If you are a member of the ICAEW you may already have access to the Bloomsbury Profession tax library online through the online ICAEW library.
https://www.icaew.com/technical/practice-resources/running-your-practice...
"So it's worth noting that the quality of writing on AccountingWeb it's always first class and looks like it was written by a grown-up."
Thank you very much for this praise. We do try and keep all the articles relevant and ensure they are readable.
If you feel an important issue has not been covered to the extent it deserves, please let us know!
Thanks! I do my best.
"most of Aweb's dumbed-down articles"
I hope you are not referring to my articles!
Until we see the final MTD ITSA regulations we have no idea.