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Neil’s Tax Tips: Single Company Trading Losses
I would like to wish all the ACCA students the very best of luck with their exam results tonight. You all worked hard and deserve some good news. Stay strong and expect the best. Never give in and never give up. Single company trading losses are a popular area in the...
Neil’s Tax Tips :Income Tax Trading Losses
It is natural for us to stay in our comfort zones and not stretch ourselves. Our brains are hardwired to seek pleasure and to avoid pain. When I lecture intelligent students, I frequently notice that they are only doing enough to get by. When sitting professional...
Neil’s Tax Tips : If You Don’t Use Them ….
As a mental health wellness advocate, I think exercise is of crucial importance. It gives us that rush of endorphins and dopamine that makes us feel happy. Exercise also helps our bodies regenerate so if you are having a hard day (which happens to all of us) exercise...
Neil’s Tax Tips : VAT On Land & Buildings
One important area that confuses tax students in Advanced Tax and BPT is Vat on land and buildings. This is probably because a building can be either zero-rated, exempt or a taxable supply. To help you I have written an article on VAT on Buildings including the...
Neil’s Tax Tips : Increase in NIC Rates For Tax Exams
Salaries are subject to both Class 1 employee (primary) and employer (secondary) national insurance contributions and typically you will be given an employee of a company. While the planned increase in national insurance was subsequently reversed in November 2022, it...
Reunited With Linda Hickson At Kaplan !
Recently, I had a lovely surprise when I got to meet the muti-talented Linda Hickson whom I had not seen in several years. Linda left Kaplan to work in the public sector and with her natural enthusiasm and ability to get things done went on to become the Head of The...
Neil’s Tax Tips : Residence Rules
One area I expect will feature in the ACCA Advanced Tax exam is overseas aspects for individuals.You need to learn the automatic residency statutory testsAutomatically non-resident if in the UK for less than 16 days (leavers), less than 46 days (arrivers) or less than...
Neil’s Tax Tips : Company Share Buyback
One important area for Advanced Tax and BPT exams is buyback of shares. The important aspect to appreciate here is the taxpayer does not have the option of making an election. If the conditions are satisfied, then it is automatically treated as a capital gain. If the...
Neil’s Tax Tips : Substantial Shareholding Exemption
One of the areas due to be examined in the Advanced Tax exam is the substantial shareholding exemption. (SSE) It is firstly important to note that this is only available to companies to encourage mergers and acquisitions. When a company sells shares that satisfy 3...
Neil’s Tax Tips :Business Asset Disposal Relief
A crucial area that I expect to feature in the forthcoming June 2023 Advanced Tax exam is Business Asset Disposal Relief (BAD relief) This is simply the new revised entrepreneur’s relief. It is available on the sale of a sole trader’s business assets (usually...
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