Author: Tony Shackleford

Limited Liability Protection

Written by Tony Shackleford on April 14, 2023.

The Finance Act 2020 gave HMRC authority to recover unpaid company taxes from the directors of companys, where the company itself was unable to pay the taxes due. On the face of it this seems to override...

limited liability, Tax evasion, veil of incorporation

Budget March 23 Summary

Written by Tony Shackleford on March 21, 2023.

The main measures notified in the 2023 budget by the Chancellor were: a) The removal of the lifetime allowance charge for pension savings. Prior to this measure, if an individual had pension savings...

Budget, Lifetime allowance, Pension savings, Pensions Allowance

Self Assessment Return Update

Written by Tony Shackleford on March 9, 2023.

For the 2021/22 tax year, there were approximately 12 million individuals who were required to submit self-assessment tax returns. The deadline for filing the returns is the 31 January. On 31 January...

Self assessment deadline

Bounce Back Loan Fraud

Written by Tony Shackleford on March 9, 2023.

There seem to be an increasing number of cases going to courts relating to prosecusion of directors for bounce back loan fraud. Typically the facts relating to the cases are as follows: a) In the bounce...

bounce back loan, Covid fraud

R&D Tax Relief – HMRC Investigations

Written by Tony Shackleford on March 3, 2023.

HMRC have issued in excess of 2,000 letters to companies who have previously claimed R&D tax relief. The letters advise the company’s to review their R&D claims as HMRC believe they have...

R&D, R&D tax relief

National Insurance Contributions Top Up

Written by Tony Shackleford on February 13, 2023.

The current rules for eligibility to the basic state pension is that 35 years of National Insurance Contributions are required. To have an entitlement to any state pension, 10 years of National Insurance...

National Insurance voluntary contributions, State Basic Pension

National Insurance Contributions

Written by Tony Shackleford on February 13, 2023.

From June 2023 the interest rate on student loans increases from 6.3% to 7.3%.

student loan

Why Is The Government Changing The R&D Tax Relief Scheme

Written by Tony Shackleford on February 6, 2023.

The following is a quote from the UK government, which spells out why the UK R&D tax relief scheme needs to be changed. ‘The UK has one of the most generous R&D tax relief systems in the...

R&D, R&D tax relief

VAT On Marshmallows

Written by Tony Shackleford on January 30, 2023.

The starting point for VAT is that sales are subject to standard rated VAT (currently 20%). However sales of food are zero rated , but sales of biscuits and confectionery are standard rated. A recent...

Vat

IR35 Cases

Written by Tony Shackleford on January 30, 2023.

Recently there have been several high profile IR35 tax appeals / cases featuring Sky personalities. The facts relating to the cases have been similar but the tribunals decisions have been variable....

IR35

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Author: Tony Shackleford