A-Z of Business Tax Deductions is a valuable and time-saving first point of reference for tax practitioners wanting to check reliefs available on various aspects of their clients businesses. It provides a succinct summary of the deductions available in each instance, key cases are summarised and the key legislative and HMRC manual references are also included. When looking at what deductions are allowable it is generally accepted that there are a number of grey areas as there is not a lot of legislation. Consequently there have been a significant number of cases and HMRC have issued guidance in a number of their manuals. In bringing together these sources this title allows the practitioner to identify possible allowance and helps to draw conclusions in areas where there may be some ambiguity. A-Z of Business Tax Deductions is structured in a easily navigable A-Z format, allowing the reader to identify quickly the business area they are looking for. By bringing together legislative references, summaries of key cases and HMRC guidance the book helps the reader to understand the circumstances in which different deductions are allowable.
The book covers deductions allowable for sole traders and partnerships.
Annette Morley is an experienced adviser in corporate and personal tax, in capital taxes and overseas tax issues. She is a qualified member of The Chartered Institute of Taxation and has been appointed vice-chair to the CIOT technical OMB sub-committee. Annette has written articles for several tax publications and presented tax seminars. She has specialist knowledge for the agricultural and rural business sector. Nicola Moore is a Chartered Tax Adviser and Chartered Accountant providing tax support to professional firms and businesses nationwide. Nicola qualified as a Chartered Tax Adviser with a big four practice, specialising for many years in compliance and advisory services for large corporates. She relocated to the West Country in 2002 and now runs her own practice from an office in West Dorset.
CONTENTS: Part 1 - General principles: Generally accepted accounting practice; Cash basis for unincorporated businesses; Capital or revenue expenditure; 'Wholly and exclusively'; Part 2 - Business deductions generally: Advertising and sponsorship; Adjustments on a change of accounting basis; Bad and doubtful debts; Car hire; Charitable gifts; Compensation and damages; Counselling and retraining; Crime related payments; Defalcations or fraud by employees; Depreciation and loss on disposal of fixed assets; Dilapidations (leases); Employer benefit deductions; Entertainment; Ex-gratia payments; Fines; Fixed rate deductions (unincorporated businesses); Foreign exchange losses; Franchise payments; Gifts to customers; Guarantee payments; Herd basis; Hire purchase; Insurance; Loan and overdraft interest - General (unincorporated businesses); Interest on overdue tax and penalties; Incidental costs of obtaining loan finance (unincorporated businesses); Keyman insurance; Lease premiums; Lease rental payments; Legal and professional costs; Management charges; Mileage allowances (unincorporated businesses); Patent rights and expenses (unincorporated businesses); Pensions; Post-cessation expenses; Pre-trading expenses; Political expenditure; Provisions; Removal expenses; Remuneration; Replacement of integral features; Rent and rates; Repairs and renewals; Restrictive undertakings; Royalties; Security; Software (unincorporated businesses); Staff welfare costs; Subsistence; Tax (foreign); Trading stock; Trade subscriptions; Trade tools; Travel expenses; Use of home as office; Unremittable amounts; VAT; Websites (unincorporated businesses); Wayleaves; Work-in-progress
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- ID: 9781780437019
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