We report that, RTI penalties are on the horizon although HMRC are not writing
to the effected businesses, instead the interest charge can be seen on the
relevant tax “dashboard”. HMRC continue the attack on the selfemployed
as far as travel and subsistence costs are concerned.
Special legislation for fixtures was introduced in 1985; certain fixtures in
buildings are treated in a special way for the purpose of claiming capital
allowances. If you are buying business premises, check the position before
signing on the dotted line. Guide lines have been published by
HMRC regarding the treatment of compensation received by businesses as
such receipts are usually taxable. We are sure you will find something
of interest.
Please contact us if you have any questions regarding any of the articles
we have included in our newsletter or if you would like further information on a
topic we haven’t covered. Your views are always important to us and we would
welcome your feedback
