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New Child Benefit Tax Charge
From 7 January 2013, a new tax charge will be imposed on all individuals who receive the Child Benefit and whose income, or their partner’s income, exceeds £50,000 in a tax year. The charge will be proportionately increased until the claimants income exceeds £60,000. At that point, the charge will cancel out the child benefit,…
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Considering the VAT implication of the FSA’s Retail Distribution Review
A great deal of discussion has taken place over the last year concerning the VAT implications of the RDR. There is a general unease that the move from commission payments to fee-based charging will result in VAT being chargeable on services which would have been VAT exempt pre-RDR. Following an informal consultation process, HMRC has…
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VAT Cost Sharing Exemption
The new VAT cost sharing exemption has now been introduced into UK legislation. Businesses and organisations often work with others to share costs and resources. Under UK law many of these arrangements result in VAT being charged between the participants. Under the cost sharing exemption, once a cost sharing group is formed it does not…
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HMRC to target “Affluent”
In an recent announcement HMRC have confirmed that anybody worth more than £1 million faces coming under scrutiny from inspectors in a fresh crackdown on tax avoidance. Expected to bring a fresh wave of attention to more than 200,000 taxpayers HM Revenue and Customs’ affluence unit is to target everyone with assets in excess of…
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Tough times for legal firms
This week the SRA (Solicitors Regulation Authority) have announced that over 600 legal firms had failed to nominate complaince officers by mid September 2012. Since October 2011, all regulated legal practices had to nominate individuals to be their officers for legal practice, and finance and administration (COLPs and COFAs) and the SRA has warned that…
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First Tier Tax Tribunal agrees with the taxpayer regarding penalties
The Tax Tribunal’s decision in the recent case of J R Hanson v HMRC dismisses the Revenue’s claim that the taxpayer should check professional advice. On the advice provided by his accountants, Hanson submitted a tax return to include a claim for capital gains tax relief however, a subsequent enquiry from HMRC found that he…
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Do Partnerships have to return benefits in kind?
Where the partnership employs others on PAYE and pays them a benefit in kind (use of a car, private health insurance etc) then no one would argue that the usual PAYE rules dictate that benefits have to be declared annually on forms P11d. But what about where the only ‘workers’ in the partnership are the…
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Independent schools – Upper Tribunal rules on ‘public benefit’
Recently the Charity Tribunal published its decision on the cases heard back in May 2011 regarding the Charity Commission’s interpretation of how public benefit requirements apply to charitable independent schools. The Tribunal was very clear that the provision of public benefit offered by a given school is a matter for the charity’s trustees and that…
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700 years and counting!
Burgis & Bullock have recently joined with other Midland firms with a combined age of 700 years to complete a deal involving a Black Country business with a famous pedigree. Tipton-based Bodill Parker Limited was established in 1838 and manufactures a range of pressings, grommets, buckles, tips, aluminium plugs and caps, hooks and cable thimbles.…
Last week, our trainees took part in an internal audit training session designed to strengthen their technical knowledge and support their professional development. While gaining practical skills was the key objective, we also wanted to make the learning experience engaging and enjoyable, so we incorporated some games. At Burgis & …
October 14, 2026
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