The following Personal Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
Advice that you give to your client may fall under the category of regulated investment advice, in which case you must not give advice unless you are suitably qualified and authorised to do so.
The Financial Services Act 2012 came into force on 1 April 2013. The Act created a new regulatory framework for financial services and abolished the Financial Services Authority.
Specifically, FSA 2012 gave the Bank of England responsibility for financi
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Legislative definition of plant and machineryThe general rule allowing capital allowances on plant and machinery is given at CAA 2001, s 11. There is no statutory definition of the term ‘plant and machinery’ but there is confirmation in the legislation on what constitutes a building or a structure
Duty to prepare trust accountsUnder the laws of England and Wales, trustees have a duty to account to the beneficiaries for their financial administration of the trust fund. This duty is established by a substantial body of case law. In the case of Armitage v Nurse, Millett LJ stated:“Every
VAT fuel scale chargesWhat are fuel scale charges?The VAT fuel scale charge is a simplified method that can be used by a business that funds both business and private mileage costs for employees to account for any output tax due on the private use of the vehicle. The charge was introduced to
Trust property, which is the subject of a qualifying interest in possession (QIIP), may become chargeable to inheritance tax on the following occasions:•on the death of the beneficiary with the interest in possession•on the death of the beneficiary within seven years after a transfer or lifetime