Like i said - late in the tax year stupid question.
I can now stop worrying about word games...
please excuse a late in the tax year stupid question
I know little if anything about ATED.
When it is referred to as "properties in excess of £500k" i am right in that it is a per property basis not a company with properties that add up to more than said £500k?
I am hoping that the answer is as obvious as it seems...
i would hesitate to look to SDLT to simplify
understanding of any kind of tax.
As far as the what happens with a flat above a shop. I think that will fall into the osbourne book of the "My goodness principle" as in "My goodness i hadn't realised that would cause any complications! I am sure it wont complicate the interaction of renovation allowance etc.I am sure that the tax avoiders among you (serial or otherwise) wont use this as a way of avoiding any tax liabilities - of whatever kind..."
am i reading too much into...
He is usually only at home at weekends, although is often working Saturdays as well, so I usually can only see him Sunday evenings.
So to me the house is only able to be used maybe one day at weekends so £50 pw = £50 per day?
2020 have a calculator in their tax tips and tools, but
i must say i find it hard to see how a single day can cost £50.
I seem to remember a case a few years back of a contractor setting a room aside specifically in his house and basing his use of home claim on that as a fraction.
as i recall it was accepted but then he decided to sell the house claimed PPR but the calculation of the chargeable gain was far from beneficial and he lost at FTT. expensive in the long run, we never have a room specifically set aside for any clients, unless they actually have, rather we look to try and use the "additional costs that arose because someone was working in the house when they would not normally be there" even down to taking meter readings etc.
@sherman and @Tom
We used to have an ex inspector of taxes work for us who had worked at (the then) Inland Revenue. He always used to reminisce about having chats with the various taxpayers about how much tax they would agree between them should be paid for that year...
If Google has lots of UK based employees, doesn't that mean that those employees with no employer with a fixed UK establishment have to do their own payroll?
You must get a formal appointment
we were told by the solicitor dealing with the estate that the executor had agreed that our recently deceased clients tax return to date of death should be done by us.
Being the trusting souls that we are we took it at face value and sent out engagement letters along with the completed return (the executor had previously sent everything in to us). Only to find that "lawman spoke with forked tongue" because the email that contained the instruction was not legally a legally enforceable instruction...
As always every day is a skill day...:-(
have i missed something here?
I haven't really been keeping up to speed this last few months for various reasons, but...
If i set up a company which made shed loads of money so to avoid paying tax i previously created a new company that holds the trade mark etc and then charge original co a royalty of 90% of originalco turnover, why isn't that an artificial step a la Ramsey?
Do you think i should have a word with George and tell him about this? My commission rate would be 55% of the tax collected - payable to my cayman company, see you on the beach guys...:)
we have had "early" averaging elections allowed, but
usually in exceptional circumstances such as profits affected by F&M, Flooding etc etc
You can only do them though if the year end fits such as 30th April etc when you know the actual taxable profits/losses etc. In the past hey have only usually effected the payments on account though.
Of course for averaging purposes and loss is treated as nil and can then be claimed against the subsequently averaged profits.
Don't every remember seeing a box like the one you describe but it would have saved a shed load of boring correspondence with HMRC in the past effectively having to be begged not to pursue the tax that the client could no longer afford to pay, through no fault of their own...
thanks for the comments
the policy has always been in my name. The only reason for the reference to the company part was that the premiums were eventually paid by my own company but charged to DLA, not added back in comps.
So by the sound of it not taxable because i paid it (or was charged for it).