Editorial team AccountingWEB.co.uk
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Any Answers Answered: Covid small business grants

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As ever TaxTV’s Giles Mooney and Tim Good tackle two brain teasers from the pages of Any Answers . This month the two tax boffins answer questions on Covid small business grants and CGT. 

16th Jul 2021
Editorial team AccountingWEB.co.uk
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To view the full questions and AccountingWEB reader answers click on the links below:

Covid small business grants on tax returns

In the first question, an AccountingWEB reader wanted to know which box the Covid Small Business Tax Return goes in? “I am trying to check exactly what box on both a sole trader tax return and the corporation tax return the small business grants for Covid support should come in to?”

CGT on farm land

The second question on capital gains tax comes from Smithy51. “We are trying to report a client who has sold some farm land (no buildings). But using the new CGT form it will only calculate at 18%/28% yet the land is non residential and should be taxed at 10%/20%. Has anyone else come across this problem and knows how to report the sale of non residential assets?”

TAXtv is a monthly tax update programme available as an annual subscription, (11 issues plus budget editions) to view online, download from the internet or watch on DVD. For the latest episode of TAXtv visit PTP Interactive.​

 

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