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Category Archives: Contributors

The New Disclosure Opportunity

11-Aug-09

After much speculation HMRC have now confirmed details of the new facility for taxpayers to voluntarily disclose tax liabilities re undeclared income from offshore bank deposits. Of course they are also interested in the taxability of the underlying profits and gains that were deposited offshore. Tax Advice Network member Bill Stephenson has written an article [...]

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Paying tax due on 31 July 2009

20-Jul-09

Some self-employed clients get confused about the on-account payment due on 31 July . Their accountant may not have drawn up their accounts for 2008/09 (6 April 2008 to 5 April 2009), particularly for years ending on 31 March 2009, but the individual needs to pay tax on those profits. This can be difficult to [...]

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Reporting Employee Benefits – P11D

18-Jun-09

Expenses to report on the P11D. The starting point is that all expenses reimbursed and benefits made available to an employee who earns £8,500 or more, or who is a director, must be reported on a form P11D, unless a dispensation is in place that covers those particular items. This applies even if all the [...]

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Tax Credit Claims

17-Jun-09

Many accountants prefer not to deal with Tax Credit claims, as they don’t want to get involved in that highly complex system of state benefits. However, I must stress, all accountants should at least tell their clients about their rights to claim Working Tax Credit or the Child Tax Credit. A claim for tax credits [...]

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Clamp down on pension contributions

12-Jun-09

In my first posting on the Holden Associates blog I thought I would cover a topic that could easily be missed by many. Who would have thought a responsible Government would introduce legislation to discourage the payment of pension contributions? but it’s there in Schedule 35 of the 2009 Finance Bill. These provisions apply to [...]

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