Talking Points for Tax Agents
04 January 2019
HMRC's regular Talking Points webinars provide ongoing information, guidance and tips to help tax agents and advisers to understand tax issues.
Here's whats coming up over the next few weeks - there are a limited number of spaces, so save your place.
How to show self-employed business expenses on your tax return
This webinar has been designed to provide guidance on what is and what isn’t classed as an allowable business expense and will include motoring and premises costs. HMRC subject matter experts will be online during the webinar to take your questions.
Capital Allowances and Vehicles
This webinar is aimed at your sole trader clients and provides an overview of the special rules for cars.
Income from property for individual landlords – changes introduced by Finance Act 2, 2017
A comprehensive look at two measures introduced by Finance Act 2, 2017:
- the cash basis for property businesses. (From the 2017-18 tax year, the cash basis will be the default basis for most property businesses that are run by individuals.)
- the property allowance tax exemption of up to £1,000 a year for individuals with income from land or property.
Submission of SA returns affected by exclusions
This webinar will discuss 2017-18 SA return online submission issues and resulting exclusions. HMRC will explain the process for filing online and allowing paper returns submissions after the 31st October deadline.
Income from property for individual landlords – common themes in relation to deductions and reliefs
Concentrating on three areas that generate regular contact with HMRC:
- restricting finance cost relief for individual landlords
- replacement of domestic items relief
- overview of what needs to be considered when deciding whether the cost of ‘repairs’ is allowable as a deduction.
Making Tax Digital (MTD) for business
This webinar will cover some fundamentals in regards to getting ready for MTD VAT in more depth than previous webinars. It will cover exemptions, the Agent Services Account, spreadsheets and bridging software in more detail. It will also cover how to register businesses for the Public Beta Pilot in advance of the April start date.
Basis Periods – looking at commencement years, changes to accounting date and overlapping periods
During the webinar we will focus on basis periods, a subject that’s prominent around the self-assessment peaks. In particular we look at the different rules that apply to commencement years, the effect on a basis period when there is a change of accounting date and overlapping periods. We also look at some pointers when dealing with a change from sole trader to partnership and vice versa.
Looking at the different ways trade losses can be relieved by individuals, including examples of the different loss relief provisions, time limits applicable to each claim and further points to consider.
If you have any questions for HMRC’s subject experts, please send them to [email protected] prior to the meeting, including the title of the meeting in the ‘Subject’ line of your email.
These interactive meetings will be run on the ‘GoToWebinar’ platform. The organiser will run through how to ask questions on the day.