Tax Guides & Briefs and AML Publications

Tax Guides

The following guides are available in hard copy, updated with the 2009 Finance Act provisions and all other issues arising to September 2009 and including new titles not previously available. Whilst technical in nature, each guide has been written in an easy to understand manner aimed at the busy independent practitioner wishing to benefit from practical assistance in dealing with client matters rather than a theoretical analysis of issues rarely met in real life. Each guide costs £45 plus an additional £2 per guide to cover despatch and administration, with significant discounts available for multiple orders. To date more than 5000 firms have benefited from previous editions of these publications so if you are unsure as to their value, a quick word with a local contemporary may well prove invaluable.

Tax Planning for small companies

(55+ pages A4) This guide concentrates on the tax issues facing the advisor to the smaller limited company with turnover of up to circa £1m. In particular it covers the impact of the new corporation tax rates currently being introduced, minimising national insurance contributions, the issue of salary -v- dividend, motor cars, pension arrangements, incorporation, share structures and disincorporation. The interaction between the tax affairs of the company and its owner managers is explained throughout and recent changes in respect of restrictions on the payment of certain close company dividends are reviewed, together with a number of other issues affecting shareholder directors in small private limited companies.

Unquoted Company Share and Goodwill Valuations

Payment of Private Company Dividends
(25+ pages A4) It has been suggested a dividend without the correct supporting minutes etc will not only be in breach of the Companies Acts but also unacceptable to HM Revenue and therefore it is essential dividend paperwork is correctly dealt with. This position is likely to be more relevant following the taxpayers success in the Arctic Systems case with HM Revenue considering alternative ways in which to challenge dividend payments. The guide sets out in detail Companies Act requirements to be followed, including the impact of Companies Act 2006. It also considers the implications of illegal dividends [including recent case law], alternative methods of payment, eg cheque, loan account, the distinction between interim and final dividends, plus includes example minutes, dividend waiver forms and mandates for both cash and in specie dividends. It also considers situations where HM Revenue may contend dividends should be taxed as remuneration and subject to PAYE tax and National Insurance contributions including commentary on the recent case of P A Holdings Limited.

The Dissolution of Private Companies and ESC C16
(40+ pages A4) It is often the case that old unwanted companies are removed from the Companies House Register under Section 652 Companies 1985 (from 1 October 2009 – Section 1003 Companies Act 2006). Advantageous tax treatment is available under Extra Statutory Concession C16 which is not always straightforward to apply (and is currently under review by HMRC). The guide gives details on how to use the concession, pitfalls to avoid, the problems of unallocated assets being claimed by the Crown, the issue of redeeming paid up share capital including the recently introduced Companies Act 2006 provisions together with a comprehensive analysis of the tax implications of a company dissolution for the company itself and its shareholder directors.

Unquoted Company Share and Goodwill Valuations
(30+ pages A4) The valuation of business goodwill and company shareholdings is broken down into a number of easy to follow steps. Many transactions require market value to be ascertained for tax purposes and this guide gives the basic skills to ensure that any valuation produced is likely to be acceptable to HM Revenue. Advice on how to deal with difficulties which commonly arise and negotiating with Shares Valuation Division are also covered as are the recent Special Commissioners decisions in Marks v Sherred and Shinebond v Carroll. For those who may need to consider the market value of business goodwill and unquoted shares (including in connection with the completion of HM Revenue form 42) this guide is likely to be invaluable.

Basic Inheritance Tax
(25+ pages A4) Inheritance tax is still very much a voluntary tax for those who take appropriate action to mitigate their liabilities. This guide provides an overview of the current regime together with details of the common ways in which the exposure to this tax can be reduced including the impact of transferable nil rate bands.

Practice Assurance
(28+ pages A4) For members of the Chartered Institutes and indeed others who wish to follow best practice the Practice Assurance regulations need careful attention. This guide outlines the important aspects of the regime so as to allow compliance with the minimum of fuss. Appropriate standard documentation and procedures are included, together with a structured action plan to implementation.

Accounting Policies
(25+ pages A4) The impact of accounting policies and their effect upon tax computations, in particular UITF 40 on work-in-progress and how its effect can be minimised, intangible asset depreciation, the requirements for making a legitimate provision, the valuation of stock, website costs plus consideration of other key accounting standards likely to be relevant for smaller businesses.

Tax Briefs

Also available are the following tax briefs, being a short guide to topics which often produce difficulties in practice. Each brief costs £18 plus an additional £2 per guide to cover despatch and administration, with significant discounts available for multiple orders.

Main Residence Capital Gains Tax Reliefs (15+ pages A4) Pitfalls and tax planning opportunities for taxpayers with more than one residence, large gardens or for those contemplating development projects in the garden.

Form 42 (15+ pages A4) Practical help on the reporting of basic company share transactions, including subscriber shares and shares transferred between family members, plus an overview of situations where the employment related securities legislation is likely to give rise to an income tax charge.

Capital v Revenue (10+ pages A4) On the distinction between allowable revenue expenditure and non-allowable capital items.

Residence and Domicile (9+ pages A4) An outline of the main provisions relating to the issue of establishing non UK residence and domicile including comments on recent Special Commissioners cases and Finance Act 2008 changes

Childcare Provision (10+ pages A4) From 6 April 2005 provision of childcare or childcare vouchers up to £50 (£55 from 6 April 2006) per week can be made tax and NI free. How this can be achieved, especially for small companies, is explained.

Travel and Subsistence Costs (14+ pages A4) What can and cannot be claimed for tax purposes for both the employed and self-employed.

Construction Industry Scheme (12+ pages A4) An outline of the scheme to whom it applies and in what circumstances, together with practical advice to avoid potential pitfalls.

Directors’ Loan Accounts (10+ pages A4) Detailed analysis of the tax implications of directors’ loan account transactions, credit and overdrawn balances plus advice on practical issues often encountered in practice.

AML Guides

8 Steps to good compliance £45.00

From January 2009 registration under the money laundering regulations for otherwise unsupervised firms has been in the hands of HM Revenue & Customs such that it is essential proper systems and procedures are in place in respect of which this guide should prove invaluable. With copies of standard forms and working papers this guide highlights the key matters requiring attention to comply with the legislation. For the practitioner who is struggling with these simple eight steps to compliance will explain as concisely as possible the minimum needed to achieve much of what is required to comply in an efficient and cost effective manner.

Policy & Procedures manual £95.00

A full guide to compliance to supplement the Nominated Officers' (MLRO) internal risk assessment of the firm. Includes the '8 steps to compliance guide' (above), the reporting requirements from SOCA, detailed guidance on CDD based upon HMRC and the JMLSG, copies of all relevant information and a 'policy statement' for the firm.

Ordering

Simply click here to go to our online shop, where you will find a full guide including prices & ordering instructions.  Please note that discounts for multiple orders are available. You will be asked to pay online via 'RBS WorldPay'. Existing BTC account holders can simply email or phone their orders to us and we will book these to your account.