Income Tax

A new partner in a successful firm is required to introduce capital funds into the business. His wife has surplus cash in a savings account that she could lend to her husband

Three people purchased a commercial property and 75% of the cost was financed with a bank loan. Following lease changes, the rent did not cover the loan repayments, and the bank wrote off 30% of the loan on the condition it was refinanced

ATT wants 19 May cut-off for payroll submissions

A rule change could have devastating consequences for globetrotting employees

It’s what your clients don’t reveal that causes problems with P11Ds

By John Endacott; second edition; £58.50; paperback; ; 146 pages; Claritax Books

P D Curtis (TC3303)

HMRC are in the process of updating their generic notification service (GNS), with the aim of keep employers up to date with real-time information (RTI) requirements.

The first of the retooled messages for 2014/15 concerns late filing: employers will not necessarily receive a notification in every instance in which it occurs, and there is no need to contact the Revenue if an anticipated GNS message has not been received.

End of year summary due by 19 April

A look at the National Audit Office report on the landscape of tax breaks

Basics of the rules set to be introduced next year

Consequences for income tax when a new shareholder acquires nil or partly paid shares