HMRC name and shame top 900!

HMRC have started to name and shame tax evaders by writing to the top 900. Click on title to see Gaurdian article.

I'm back! What is disguised income?

You may need to sign up for the free FT newsfeed to access this article. Makes for interesting reading. Click on title of this Blog posting.

Pension Calculator

Hargreaves Lansdown have just posted a pensions calculator to their web site. A useful tool... Click on the title of this post and book mark the page.

Are you missing out on R & D relief advice?

Click on the title of this piece to download an interesting article published in Taxation, written by Nigel Holmes of Armstrong Watson. The article is available from our Resource Centre, please use password (resourcesaccess) to login. Nigel and his firm have considerable experience in preparing and negotiating claims with HMRC. He is happy to discuss the issues raised in the article - nigel.holmes@armsrtongwatson.co.uk

LLPs and group relief

Niall Murphy of Shoosmiths has posted an interesting update on LLPs and group relief. He quotes:

"A recent announcement by HM Revenue & Customs (HMRC) on how it treats limited liability partnerships (LLPs) for group relief purposes could have significant implications for groups with LLPs in their structures."

To read the full article click on the title of this posting.

Generate qualified leads ...

We now have a growing number of firms who subscribe to our Tool Kit. The Tool Kit has been designed to produce qualified leads for your practice - from both new prospects and existing clients. We have recently taken on a dedicated Customer Service Manager, Fiona Caddick, who is tasked with supporting subscribers with implementation of the various Tool Kit features.

Next year we will be adding a number of new features to the Tool Kit including an editable news feed for your practice web site and a page of calculators. We will also be improving the presentation of the three core report generators, Business Fitness Assessment, Tax Planning Report Generator and the Personal Financial Health Check.

All registered subscribers at 31 December 2010 will receive these updates with no increase in their subscription.

To incourage participation in this service I am willing to offer any firm that completes an Online Order Form before 31 December 2010 with free use of the service until 1 March 2010. During this free trial period Fiona will work with you to ensure that you add the core features to your web site and integrate the opportunities to increase business with existing clients.

Minimum monthly subscription available, no subscription fees to pay before 1 March 2011. Click on the title of this posting to place your order.

If you would like an online demonstration of the Tool Kit call me anytime 01926 334773 or email bob@landmarkpd.co.uk.

And don't forget - you will be seeing a number of clients between now and 31 January 2011 to review their 2010 SA return - the Tool Kit Tax Planning Report generator is a perfect tool to engage with clients to tease out tax planning opportunities for 2010-11...

Accountants and legal privilege

Legal Professional Privilege and Accountants (This article is reproduced with the permission of the writer, David Winch FCA, MLRO Support Ltd)

Last month the Court of Appeal ruled on an issue of interest to accountants and lawyers and their clients.

In a nutshell, if a client seeks legal advice about his tax affairs from his lawyer that advice, and the communications to and from the lawyer for the purpose of obtaining that advice, are covered by common law legal professional privilege. That means that HM Revenue & Customs cannot require disclosure to them of the privileged documents by the issue of a notice under section 20 Taxes Management Act 1970 (now replaced by provisions within Schedule 36 Finance Act 2008) or similar legislation.

  

But what is the position if the client seeks that advice on tax law from his accountant rather than from a lawyer?

The Appeal Court ruled that common law legal professional privilege does not extend to advice, even legal advice, from accountants to their clients.  That means that HMRC are entitled to require disclosure of the documents.

The result is a disappointment for accountants, but not a surprise.

But it does not affect the statutory exemption from reporting suspicions of money laundering based upon information received in defined circumstances. That exemption, which is laid out in section 330 Proceeds of Crime Act 2002 (as subsequently amended), remains available both to suitably qualified accountants and to lawyers.