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Action points, issue 4652

18 June 2018
Issue: 4652 / Categories: For Action

Putting your client info in motion.

  • The deadline for employers to submit forms P11D is fast approaching (6 July). Draw the attention of clients’ who must file these documents to HMRC’s Employer Bulletin 72. This leaflet which contains some useful hints and tips on this subject.  
  • In Williams and another (executors of Campbell, dec’d), the First-tier Tribunal decided that a rental payment on business premises is a liability for business property relief. Although the decision is not binding, it may be worth bearing in mind should you come across similar circumstances (page 7).   
  • Employers will need to gain an understanding of what the courts considering to be important factors in deciding employment and worker status and the levels of control and personal service that have been key determining factors (page 8).  
  • The national minimum wage (NMW) may not be something you often advise on, but it remind clients whose staff receive tips and gratuities that these must not be counted towards the NMW (page 12).  
  • Up to 10% of the personal allowance may be transferred to a spouse or civil partner. Remember that the benefit to the recipient is given by way of a reduction in the amount of tax payable rather by reducing taxable income. This means the taxable income does not change as might have been expected (page 16).  
  • When analysing the inheritance tax position of any life interest trust (or beneficiary thereof), the starting point is always to ascertain whether that trust falls within the ‘relevant property regime’(page 18).  
  • The anti-avoidance rule in ITOIA 2005, s 396B is not aimed at preventing the application of entrepreneurs’ relief. Instead, it prevents a distribution being treated as capital if a similar activity is carried on within two years of a company liquidation (page 23).
Issue: 4652 / Categories: For Action
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