Company tax - Dealings with HMRC

Election for business asset disposal relief to apply to QCBsWhen you sell a business the purchasing company might offer to pay you with loan notes. This is a loan arrangement but in the form of a security, i.e. like shares. The loan notes pay interes... Read more

Capital allowances short-life asset electionTax relief on the cost of equipment you buy for your business is spread over decades unless your purchases are covered by the annual investment allowance. The good news is you can accelerate this dra... Read more

Complaint letterUltimately, the Adjudicator's Office handles all complaints about HMRC. However, the adjudicator will only examine a complaint if it has been through the proper levels of authority within HMRC first.Set out your grievanceIf you feel yo... Read more

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

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

Changing interview notesIf you attend an enquiry with one or more HMRC officers they will make notes of the meeting and they will ask you to agree that they are a true and fair representation of what was said. The document can be used as evidence in ... Read more

Alternative interest calculation method letterWhere an employer provides a cheap rate or interest-free loan there's more than one way to work out the taxable benefit - the normal averaging method or the alternative precise method. The normal method a... Read more

Checklist for challenging an HMRC business economics exerciseIf HMRC challenges your accounts based on it carrying out a business economics exercise, use our checklist to identify flaws in HMRC's assumptions and calculations. Missing incomeHMRC uses i... Read more

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