The issue of how to process the Tax Return of a Limited Company which had invested in a portfolio of securities formed the basis of an in-depth discussion for a local group of accountants, Andrew McKenzie-Smart reports.
Tax and financial reporting
News from the London Accountant magazine, the official publication of the London and Croydon Societies of Chartered Accountants.
The question of how a client could receive royalties in a tax efficient way formed the basis of the discussion at this London tax forum, Andrew McKenzie reports.
David Hadley, member of the LSCA Taxation Committee, looks at how recent legislation will affect stamp duty on transfers between connected companies.
The phrases ‘tax efficient’ and ‘cars’ do not normally sit comfortably together but this is changing due to new developments regarding ultra-low emission (ULE) cars, explains LSCA Taxation Committee member Pat Nown.
The issue of how to bring on board a new director with an existing company formed the basis of an in-depth discussion on how shareholders would change, CGT implications and whether the old company should be wound up, Andrew McKenzie-Smart reports.
Although the Budget has been overtaken by subsequent events, it is worth remembering the speech contained important announcements for both business and individuals. LSCA Taxation Committee chair Gay Jordan reports from the society’s post-Budget breakfast.
Victoria Walmsley, Managing Director at Morgan McKinley, weighs up the impact of a flexible workforce can have in financial services and how future changes in IR35 will cause unintended consequences despite the year’s delay in implementation caused by the Covid-19 crisis.
For the very latest pandemic news, including updates for businesses and workers, ICAEW’s coronavirus hub provides an invaluable source of information.
Jamie Tomlin, chair of the LSCA’s technical committee, reviews the IASB’s draft proposals to replace IAS 1 Presentation of Financial Statement which is set to change how the financial cake is sliced.
As over 50 retailers urge the government to reform business rates, London is in the firing line as businesses subsidise the capital’s rates bill by nearly £600m, while the ICAEW Tax Faculty sets out five areas for change in this month’s Budget.