Member Since: 25th Apr 2012
7th Oct 2021
Thanks LB. We did have a visit from the Dept, which was not a major problem.
However last year was such a "rush" to get the info from the banks and then finalise the Return, I made an error as to the Y/e (by 1 day ~ sods law, there was a minor transaction of a few £s that altered the Y/e closing balance. COP asked for copies of ALL bank statements. Came back eventually merely amending the final figure by the few £s. It seems to me that for them to question this, they must have had the details from the bank. All of the figures followed the same pattern of income/exps as in previous years.
As you say it is a nightmare and I hate to think how some people manage to complete it.
10th Sep 2021
You don't provide figures and therefore guidance is somewhat difficult, but look at CG Manual para 71870 for starters.
Hope this helps.
2nd Jun 2021
I agree -- one needs to establish the use of the van, to see if there is in fact a chargeable Bik. But the fact that a Co'y car is made available, does not, IMHO, mean that there will be no Bik (as is hinted at), on the van. Go to many sporting venues (golf clubs, fishing lakes, local football grounds) and you will see lots of vans, double cab pick-ups that are clearly company vehicles, and (likely) doing more than the odd trip to the dump/supermarket.
31st May 2021
I don't wish to sound rude but you are in receipt of £140k p.a. and, given the major changes you are planning and the varying strategies that might be possible, you really should seek informed professional advice and be prepared to pay for it, rather than rely on a site strictly set up for exchanges of ideas between Accountants, Taxation specialists etc.
23rd Apr 2021
"Consultancy work as a numismatist". ??
Must be coining it in !!
6th Mar 2021
22nd Feb 2021
I'm with you.
21st Feb 2021
I might be being a bit Sunday p.m. drowsy but -- (& I haven't checked the specifics of the WFH rules ) IF the Dir. is not being paid ANY emoluments from THIS employment is there any claim for relief against his income to be had? (as opposed to the Co'y "reimbursing" to him the sums). I seem to recall that any claim had to be " incurred and defrayed from THE (my emphasis) emoluments therefrom". Does S328 & S329 ITEPA restrict/prevent any such claim in these circumstances? See EIM31655 et seq.
I hope this helps
20th Feb 2021
In the circs as you describe I agree with John.
17th Feb 2021
Suggest a starting point -- look at HMRC CGT Manual see para CG61900P et seq.