Documents for Business

In excess of 1,000 customisable documents covering every conceivable business issue.
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Product mix reconstruction

Product mix reconstructionWhen carrying out a business economics exercise, the tax inspector will often use an industry average mark-up of purchases to selling price to construct a sales figure. But this simple calculation doesn't take into account yo... Read more
 
 

Enquiry - notice out of time letter

Enquiry - notice out of time letterTo start an enquiry into your personal tax HMRC must notify you of its intention within a deadline. Before you reply to any questions HMRC raises, check that the enquiry notice has been issued in time. If not you s... Read more
 
 

Accounts - obligation for past event note

Accounts - obligation for past event noteOne tax game that's played every year end involves getting tax relief before you've spent any money. Quite often you don't get the actual invoice in before the year-end. So instead you can include in your account... Read more
 
 

Enquiry - challenging a business economics exercise

Enquiry - challenging a business economics exercise There can be many reasons for challenging an HMRC business economics exercise, but you must have good grounds for doing so. Are your records deficient?HMRC's business economics exercise approach to i... Read more
 
 

What HMRC is likely to ask

What HMRC is likely to askThere's a pretty standard set of questions that the inspector will ask at interview. These are mostly designed to undermine the records you've kept and so allow them to make a demand for tax on missing income/profits or over-cl... Read more
 
 

Wastage losses record

Wastage/losses recordHMRC typically uses a mark-up of purchases to selling price to construct an anticipated sales figure. However, this doesn't generally allow for wastage/write-offs. So what simple records could you keep about "wastage"?Wasted stockProd... Read more
 
 

Letter to chase a tax repayment

Letter to chase a tax repaymentRepayments arising from online filing of self assessment tax returns may be stopped for a variety of reasons, and HMRC staff have to look at them before they can be released. Contacting HMRC should help to speed up your... Read more
 
 

Enquiry - business economics exercise letter

Enquiry - business economics exercise letterYou might feel that the tax demand based on a business economics exercise routine is absolutely outrageous. What measured response should you give?Don't say too muchDuring an enquiry into a tax return there ... Read more
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