Greetings!
I will start with some good news for IR35 Contractors. Recently HMRC have lost 4 cases on IR35 and this shows if we get the contract right and our facts right all is not lost. Though in very recent case of Autoclenz Ltd Supreme Court decided that merely putting clauses in contract is not enough. Reality of facts is more important than your contract. So contract can be a starting point but reality of facts is more important.
As ever, DNS want to help you stay on top of your business and your money, we want to help you improve your systems and never fall foul of the tax authorities. It is very important that you always inform us of any changes in your circumstances and don't ignore correspondence from us or from HMRC.
A good way to ensure we have all the paperwork we require when we need it is to use DNS as your Registered Office Address. Go to the Link to learn more about the benefits of this service and how to apply. |
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Expenses are Sticky Issue - Take a Closer look at what you are claiming
As we informed you in our May/June Newsletter, HMRC are stepping up their campaign to capture and fine tax dodgers or those that make deliberate (or, even, innocent) mistakes on their tax returns or on their P11Ds concerning expenses. We have compiled list of Expenses and receipts which can guide you on what to claim and what not and what receipts are required.
Please check expense and Receipts Guide
Download Expenses you can claim
Though we cannot completely get away from govt attacks on expenses but one of the ways we can reduce our exposure is by making an application for dispensation. Basically dispensation can save us the hassle of reporting expenses on P11d return. By not reporting expenses reimbursed and paid on P11d we are giving them less information to trawl through and therefore less exposure. To find out more about Dispensation and how it can help you please read
How can Dispensation Help me.
I am sure this will also help many to understand when do I need to file P11d returns. Many wonder why they need to do P11d returns if they have dispensation in place. Please note that dispensation only saves reporting of expenses but not benefits.
Read the Full Story |
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Share buyback is it worth?
Can we use Share buyback as a tax planning tool. If you are thinking of retiring and want to extract funds from the company. Why not look into Share buyback. This may be a good tax planning tool. Obviously we need to meet certain criteria and conditions.
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Finally if you are thinking of buying a property please get in touch with DNS and we may be able to save you thousands of Pounds.
Further more if you are interested to know more about some great below market value properties please get in touch with us and we can introduce to some excellent offers. Recession is opening the door for people with cash and you may be one of the opportunist to capitalize. So if you are interested please do let me know and we will introduce you to some good offers.
Lets not forget that Protection is key to any planning and therefore I would request all my clients who have not covered them with Tax Investigation Cover should look more into it and see if they can benefit from this. It can be a great peace of mind. To Conclude We would love to hear from you about anything more DNS can do to help. Our decisions about our services and the quality of them are informed by your feedback. Please email any comments you would like to share and from this we can ensure that we always respond to your needs.
Wishing you all the very best over the month! Sincerely, Sumit Agarwal
DNS Associates PS: There is lot happening and I will bring you some more exciting news very soon so keep watching PPS: Please make sure that you are getting your referrals in time. I can only apologise if there is delay but be rest assured they will be paid so please continue to refer and help your friends and family. Please check our new referral scheme and how the payments are made. |
