Documents for Business

In excess of 1,000 customisable documents covering every conceivable business issue.
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Appeal and postponement of direct tax

Appeal and postponement of direct taxThis standard letter can be used to make an appeal against any direct tax assessment, e.g. income tax, corporation tax, capital gains tax etc., but not VAT, customs or other duties.How to use itThe time limit for ... Read more

Bank account declaration of beneficial ownership

Bank account declaration of beneficial ownership Interest received on a bank account held jointly with your spouse/civil partnerĀ is taxed on you equally, even where the actual ownership of the funds in the account is not 50/50. However, you can send a... Read more

Letter to get a tax penalty reduced or suspended

Letter to get a tax penalty reduced or suspendedHMRC has the power to reduce a maximum tax penalty to take account of the nature and quality of any disclosure you have made about an "inaccuracy". How do you get this on the inspector's negotiating agenda... Read more

Key events chart

Key events chartIf you are subject to a personal tax enquiry, deposits on your bank account statements could be taken to be a second source of income by HMRC. Therefore, it's a good idea to keep an up-to-date record of these rather than relying on you... Read more

Enquiry - private expenditure record

Enquiry - private expenditure recordDuring a full enquiry into your tax return, if you are self-employed you can expect the inspector to start asking questions about your private expenditure. The presumption is that any "missing" takings from the busin... Read more

Changing interview notes

Changing interview notesIf you attend an enquiry interview, the tax inspector will make their own notes of what they "think" was said and use them against you if they can. They will probably try to get you to sign them as a true record of what came up ... Read more

Employee expenses policy

Employee expenses policyFrom 6 April 2016 responsibility for determining whether business expenses reimbursed to employees and directors are exempt of tax and NI rests with the employer. To aid with this it's good practice to have an expenses policy i... Read more

Mobile phone declaration

Mobile phone declarationThe old rule was that you could have as many mobile phones as you liked, tax and NI free. Now it's down to one per employee. If you have more than one, you will need to declare which one is to be your tax-exempt phone.Choose yo... Read more

Checklist for challenging an HMRC business economics exercise

Checklist for challenging an HMRC business economics exerciseIn the pursuit of tax collection targets there is now a much greater willingness by HMRC to displace the profits shown by your accounts with an estimate based on a simple business economics... Read more

Pool car journey record

Pool car journey recordFor a company car to count as a pool car (meaning that employees who use it aren't taxed on it as a benefit) it must not be used for private journeys. HMRC may ask for evidence of this. You should maintain a log of all journeys ... Read more
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