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A

Accommodation

Benefits in kind

Associated to work-related training

Job-related accommodation

Job-related and principal private residence relief

Living accommodation provided as a BIK

Provided during public transport strike

Valuation of services ancillary to job-related accommodation

Business accommodation

Accommodation expenses

Expenditure incurred on temporarily empty property

Income from surplus business accommodation

Capital allowances

Plant and machinery used in and long life assets

PAYE and NIC

Council tax paid included as earnings for NIC

Stamp duty land tax

Provided by reason of employment

Treatment of various types of accommodation

UK Residence

Availability of accommodation

Disposal of UK residential property by non-resident

VAT

Construction of dwelling

Input tax when provided to director

Provision of sleeping or holiday accommodation and rate of supply

Accounting period

Corporation tax

Apportionment of income for long period of account

Calculation of corporation tax liability

Cessation/commencement

Change of accounting reference date and CTSA

Definition

Entering liquidation

Long period and CTSA filing obligations

Main entry

Notifying chargeability to HMRC

Income tax

Basis periods and overlap relief on cessation of trade

Basis periods on commencement of trade

Change of accounting date and loss relief on commencement

Change of accounting date and overlap relief

Change of accounting date in third year of trading

Conditions for valid change

Lloyd's accounting year

Partnerships

Sole traders

Accounting records (AFR)

Cash accounting

VAT scheme

Preparation of financial statements

Form and content of accounts: overview

General legal framework

Retention of accounting records

Underlying accounting records

Accrued income scheme

Income tax

Main entry

Trusts

Rules relating to trustees

Agency worker

Income tax

Tax status

Travel between home and workplace

PAYE and NIC

Leaving employment

NIC treatment

SSP

Treatment for PAYE purposes

Agent (Tax)

Estate agent

Flat rate scheme

Services of, and place of supply

Harmonisation

HMRC requests for information from an agent

Stamp taxes

Notification and payment obligations for SDRT

Stock transfers carried out by intermediaries

Transactions which are exempt from the principal SDRT charge

VAT - general rules

Acting for overseas principals

Acting in his own name

Acting in the name of the principal

Disbursements

Overview

VAT - specific circumstances

Authorised to act for business in dealings with HMRC

Authorised to submit clients' VAT returns electronically

Bad debt relief where VAT calculated on profit margin

Debt collection by and cash accounting

Exports

Registration by

Time of supply for continuous supplies of services

Travel agent and flat rate scheme

Agricultural property relief

Inheritance tax

Disposal of principal private residence which is trust property

Eligible property

How relief is given

Impact on fall in value relief

Interaction of APR and BPR

Main entry

Ownership requirements

Transfer apportioned to participators in close company

Woodlands

Trusts

APR and chargeable trusts

Termination of interest in possession on death

Agriculture

Agricultural property relief

APR and chargeable trusts

Disposal of principal private residence which is trust property

General rules

Impact on fall in value relief

Termination of interest in possession on death

Transfer apportioned to participators in close company

Other direct tax issues

Agricultural assets and CGT gift relief

Non-qualifying trade for CVS

Non-qualifying trade for EIS

Non-qualifying trade for EMI scheme

Receipts excluded from property business income

Tenancy

Changeable rent and SDLT

Covenant to assign single Farm Payment and SDLT

Whether grant of tenancy is transfer of value

Trading activities

Averaged profits and calculation of Class 4 NIC

Averaging profits

Herd basis

Main entry

Overview

VAT issues

Agricultural flat rate scheme

Auctioneers' scheme

Husbandry of animals and flat rate scheme

Annual investment allowance

Capital allowances

Businesses other than companies

Companies

Main entry

Annuities

Capital gains tax

Paid to retiring partner

Whether chargeable asset for CGT

Income tax

Income from and calculation of taxable income

Income not received in the UK

Interest on certain loans to pensioners to acquire annuity

Life policy gains

Loss relief on cessation

Main entry

Pension payment

Purchase of approved annuity and termination payments

Tax retained on payments made net of tax

Treatment by payer

Inheritance tax

Valuing the death estate

Stamp duty land tax

Chargeable consideration and future payments

Trusts

As part of a life interest trust

Paid by trustees

Provided for in a will

Valuation of interest of beneficiary

Appeals and disputes (Tax)

Corporation tax

Penalty determination

General principles

Appeals which were in progress at 1 April 2009

Direct tax model

HMRC decisions which can be appealed

Indirect tax model

Reviews and appeals - main entry

Harmonisation

Penalties in relation to inspection and information powers

Penalties relating to late filing

Penalties relating to senior accounting officer

Income tax

Main entry

Inheritance tax

Review of appeal following determination

PAYE and NIC

Against PAYE determination

Employee's liability for incorrect PAYE deductions

Failure to file PAYE forms online

Subcontractor application for gross payment

Subcontractor application for net payment

Stamp taxes

Determination of SDRT

Discovery assessment relating to SDLT

Enquiry by HMRC into land transaction return

Penalties relating to SDLT

Trusts

Determination of IHT due

Enquiry into vulnerable person election

VAT

Anti-avoidance relating to VAT group

Civil evasion penalties

Estimated amount of VAT due

Failure to repay overseas VAT

Failure to repay UK VAT to non-UK trader

HMRC refusal to allow use of a retail scheme

Issues relating to VAT

Notice of direction

Notice of joint and several liability

Override notice

Surcharge assessment

Associate companies

Classification

Determining the relationship

Overview

Determining associate status

Definition

Apprenticeships

Funding and levy

Main entry

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PAYE and NIC - National Insurance contributions - Contributions for employees - Class 1 contributions - Income liable - Items included in earnings - 43230

Remuneration Detail Earnings for Class 1 NIC purposes Taxable Wages, salary, overtime and bonuses ✓ ✓ Inducement payments (¶26480+) ✓ ✓ Restrictive covenant payments subject to income...

Commentaries / Tax Memo • 06.07.2020