Tax Matters July 2011
Welcome
Welcome to the July edition of Tax Matters. This issue we have advice for start-up companies, entrepreneurs, employment bureaux - and everyone who has to file corporation tax returns.
We should be used to the idea that, since 1 April this year, it is mandatory to file corporation tax returns online. But the tricky bit can be the requirement for most to present supporting documents, including annual accounts, in a particular format - iXBRL. Corporate tax partner Chris Riley explains how we can help you with the conversion.
Personal tax manager Zoe Hidden looks at the recently doubled lifetime allowance for entrepreneurs' relief - making it an even more attractive proposition. Timing is critical, and you need to plan well in advance of a company or shares disposal.
If your business is recruitment of temporary staff, we have an article from VAT manager Luigi Lungarella on a recent case ruling that is likely to affect the way VAT is charged in relation to the supply of temporary workers.
As its name suggests, the Enterprise Investment Scheme (EIS) was set up to attract investors to start-up companies. If you are a new or existing company, you could well benefit - but Chris Riley explains how you will also need to weigh up some drawbacks before deciding what's best for your business.
As always, we'd like to hear your views on this newsletter.
Andrew Jones
Head of Tax Division
ajones@littlejohnllp.com
In this issue:
Personal tax:
Business tax:
VAT:
