Member Since: 4th Apr 2003
3rd Jul 2007
Am I allowed 2 votes?
Tolleys Tax Guide covers the vast majority of issues that I ever come across.
David Smith's book "IR35 Defence Strategies:from contracts to commissioners" is obviously more specialised but I reckon it's the best on the subject of status issues and written by the best in the business.
18th May 2007
The questionnaire doesn't really give us the opportunity to tell them what we think of HMRC's online services.
Still, question 15:-
"If you have any comments about our Online Services please enter them below"
does have space for 40 characters - and I only need 9 for "it's crap"
4th Apr 2007
I agree with your calculations.
2nd Apr 2007
Non corporate dividends
Surely this was only introduced from April 2004 - there were 2 years where someone earning £10,000 would have no tax at all to pay?
Have a look as well at the last 3 years for the £10,000 a year profit - the same figure appears in both the 'Sch D' and 'company' columns.
30th Nov 2006
Achievements to date???
Isn't it refreshing to see that HMRC consider they have "managed to successfully implement a range of initiatives over the past 18 months to help small businesses."
Four-page tax return:-
I don’t particularly find the 4-page return any easier or more difficult to do than the 10+ pages of the full return. If anything it gives me more problems. For example, it’s harder to get supplementary pages for; it may have been suitable last year for some clients but not this year so we have to do the full return in any case; I’ve submitted 5 short returns that showed a small trading loss and requested this be set against other income - HMRC failed to do this in every case.
Responsibility for paying tax credits:-
Employers only had to do this since April 2000. All they’ve really achieved is putting employers in the same position as they were 6 years ago.
As above but 2 years ago!
Better tax code information:-
So a million employees had wrong tax codes!? Surely they didn’t all work for small businesses. In any case, I can’t quite see how this would “help small businesses”.
"Stretching the changes over more than just the next four years":-
I guess if this is what they've achieved in the last 18 months, we aren't going to see much in 4 years. In fact, I'm not hopeful of seeing too many changes in the 20 years or so before I retire!!
12th Jun 2006
After Saturday I certainly wouldn't class any of England's footballers as entertainers.
6th Jun 2006
use of home as office
I don't want to appear to be picking fault with (yet another!) excellent article by John, but wasn't the business proportion in the Gazelle case 20%?
22nd Nov 2005
missing the point??
Surely the main reason many have gone down the incorporation route has been to reduce their tax liabilities.
In the example quoted, a limited company could make a profit of £77,988 (i.e. 22% less than the partnership) and the directors/shareholders still take home £65,030 if salaries are paid to the (two) directors of £4,895 with the rest of the profit taken as dividends - total tax liability £12,958!
14th Jul 2005
"Little need to employ people who can actually think anymore". Isn't that what the Inland Revenue have done!