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Having attended many HMRC PAYE and VAT visits at clients premises over the years there is a common theme of “easy pickings” for HMRC to discover and then raise assessments in respect of under-declared Tax.
Our steadily-growing financial planning team has been further bolstered by the arrival of Chartered Financial Planner Simon Lake.
HMRC have been running a Let Property Disclosure campaign for some time now and over the last 12 months more people have come to me asking for advice in making a disclosure under the scheme. Many people incorrectly think that if their expenses are exceeding their letting income that it isn't necessary to disclose their lettings on a self assessment return.
We’re thrilled to announce we’ve been shortlisted for the prestigious British Accountancy Awards, our profession’s annual “Oscars” event, in the Mid Tier Firm of the Year category!
We’re extremely pleased to announce that partner and head of our audit team, Shona Godefroy, has been appointed as the firm’s new deputy managing partner.
It is now possible to log into your own personal tax account on the HMRC website. The ‘ Personal tax account’ brings together all your personal tax information into one account for the first time.
The introduction of the “residence nil rate band” with effect from 6 April 2017 is arguably the most significant development in the inheritance tax legislation since 2007 when the then Labour Government permitted the “standard” nil rate band to be transferred to a surviving spouse or civil partner.
This month we talk to Annette, a Personal Tax Manager based in our Plymouth office.
In this, Part 3, of a series of blogs about taxation of the family I have highlighted below some points which parents should be aware of about the taxation of and reliefs for children.
Registered to carry on audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales, details about our audit registration can be viewed at www.auditregister.org.uk, under reference number C001091748, and details of all audit regulations can be accessed at www.icaew.com/regulations. A list of members can be found under Legal Notices. Thomas Westcott has offices in Axminster, Barnstaple, Bideford, Bridgwater, Burnham on Sea, Crediton, Exeter, Holsworthy, Honiton, Ilfracombe, Langport, Okehampton, Plymouth, Seaton, Somerton, Tiverton, Torquay and Weston super Mare.
© Thomas Westcott 2017
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