Mixed Partnerships Tax Rules

Mixed Partnerships Tax Rules
We wanted to share with you the new tax rules on profit sharing for mixed partnerships.  Changes have been introduced to counter some of the tax advantages that were available.

The individual and non-individual members of mixed partnerships have enjoyed considerable flexibility in recent years.  The HMRC has implemented changes to counter some of the tax advantages they have enjoyed. 
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HMRC is watching you!

HMRC is watching you!
HMRC have developed new software to help them decide if a tax return looks wrong, or if they think someone is not paying enough tax. This new software is known as ‘Connect’.

Connect pools information from varying sources to help create a picture of what someone’s tax affairs should look like.
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Tax relief and incentives

Tax relief and incentives
There is a highly favourable environment for businesses as the economy is improving.  It’s also good for those who invest in businesses as there are many sources of funding.
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Finance Act 2014

Finance Act 2014
A few weeks ago saw enactment of a Finance Bill that activates controversial new powers that enable HMRC to accelerate collection of tax on tax avoidance schemes.

This Bill is called the Finance Act 2014 Grant Royal Asset and it’s important that businesses are aware of this and understand how it may apply to them.
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Self assessment tax returns

Self assessment tax returns
Are you getting ready to file your tax return?  Don’t forget the sooner you get the paperwork to us the better.  The 2013 to 2014 tax year ended 5 April 2014.

Here are the main deadlines for your information...
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