Basis period reform: moving to a 31 March year-end
As set out in our article ‘Basis period reform: transitional rules apply from 6 April 2023’ in the March 2023 edition of Tax Adviser, the introduction of the tax year basis in 2024/25, and
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The income record viewer: a digital handshake
In one ideal world, clients would provide their agents with details of their employment income in a timely fashion.
Land diversification: the complexity of supply
Farm diversification is, by definition, alternative land use – the supply of land for activities such as the provision of stables, the hire of riding schools and dog walking areas.
Fish and chip shops: a flawed HMRC investigation to cash-only businesses
In the more than 30 years that I have been in the tax profession, certain types of business have been seen as likely candidates for an old-fashioned ‘back duty’ investigation.
The administration of state pensions: not as simple as it sounds
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About 12.6 million adults received the state pension in February 2023 (see bit.ly/3YS4w5T).
Investigating underpaid VAT: HMRC's best powers of judgment
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Imagine the following situation: you trade in the High Street as a retail outlet – let’s say, a restaurant – and have had a compliance visit from HMRC.
Basis period reform: transitional rules apply from 6 April 2023
Image:© Getty images/iStockphoto
The government announced in the Autumn Budget 2021 that basis periods for income tax purposes (the ‘current year basis’) would be abolished from 6 April 2