|
Parasol PAYE umbrella company
Over 32,000 satisfied contractors. Get paid quicker. Call 0800 5836000. |
Section 660 - Guidance note on the settlements legislation
Posted Jan 19, 2006
The six main UK representative bodies involved in tax have issued an updated guidance note (PDF) to help tax advisers and their clients with their tax returns for the year ended 5 April 2005. This is to assist with self assessment in light of the Court of Appeal decision in the Arctic Systems Limited case (Jones v Garnett), where the Court found in favour of the taxpayer but which is now being challenged by Her Majesty's Revenue & Customs (HMRC).
Francesca Lagerberg, Chairman of the Tax Faculty of the ICAEW, noted:
"The disappointing decision by HMRC to petition for leave to appeal to the House of Lords maintains a sense of limbo for many small businesses, particularly those involving just a husband and wife, who will remain concerned about how to accurately complete their tax returns in relation to the settlements legislation."
Anne Redston of the Chartered Institute of Taxation added:
"The recent Court of Appeal decision in the Arctic Systems case was strongly in favour of the taxpayer, but the spectre of an appeal by HMRC will worry small businesses. The guidance note issued today by all the main tax representative bodies is intended to help with this dilemma."
Contractor Services
- Clarity - Chartered Accountants - Fixed Fee £95/month. No hidden extras.
- Together we're stronger! - Join PCG, representing contractors
- Professional Indemnity Insurance - Essential contractor PI cover
- AccountsNet CA - PCG Accredited. Great Value @ £65pm - View Demo
- inniAccounts - Online Accountants, 24x7 Access, Free Demo
- Qdos - IR35 experts - Providers of low cost contractor insurance
- Free Umbrella Company - Save over £1400 p.a. on fees with Springboard
- Free IR35 & Tax Review - Call ICS on 0800 195 3750
- K & B Accountancy Group - Fixed fee contractor accounting only £75pm
- Parasol - the UK's favourite umbrella company
- planIT Services - Umbrella, Ltd company, free formation & IR35 review
- Cloud 9 Group - Umbrella Solutions only £9.95 per week
- Key Directories: Contractor Accountants | Umbrella Companies
- Financial Services: Income Protection | Contractor Mortgages | Pensions
- More Services: Compare Business Insurance | Company Formation
Related Articles
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|








