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Action points, issue 4598

08 May 2017
Issue: 4598 / Categories: For Action

Put your client admin into motion.

  • Remind employees of their and the firm’s responsibilities under the new Criminal Finances Act. Ensure that everyone understands what constitutes tax evasion and the serious implications for them and the firm if a client is found to have committed fraud.


  • Taxpayers who receive a notice to file a tax return must do so even if they have no liability. This is reflected in the decision in Kaczmarczyk when the tribunal found that even though a company was dormant the taxpayer had no excuse for not filing.


  • Finance Act 2017 ends the tax advantages of employee shareholder status (income tax exemption of £2 000 and capital gains tax of £50 000) for arrangements entered into on or after 1 December 2016.


  • Bear in mind that when applying for an advance clearance from HMRC for capital gains...

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