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.

Anybody heard of HMRC's AAM service?

I was reading Taxline today (what else do you do on a Sunday?) and came across an article regarding the Agent Account Manager service. See I knew all along...

Apparently it has been set up to help practitioners with client-specific problems. To be more specific the AAM is your next port of call when "normal channels" have proved less than fruitful.

Why am I not getting excited about this?

If you want to take a look, and you should probably register, click on the title of this posting.

Good luck!

Student accommodation and capital allowances

On 22 October HMRC revised its guidance on what it considers is meant by the term “dwelling house” in relation to the Capital Allowances legislation. This will potentially have far reaching effects on developers of student accommodation.
Click on title of this posting to see full article on Shoosmith's web site...

Flippin 'eck

It would seem that HMRC are brushing up their skill sets and in particular owners of more than one property who have submitted a s225 (PPR) election will need real evidence that they did actually move in to the second property if they want to rely on PPR relief for both properties.

A recent Telegraph editorial sets out the issues quite nicely... Click on title of this posting to see the article online.

More than one residence - unmarried couples

A married couple or civil partnership are only allowed a single PPR [s222(6)] and any election under s222(5) must be made jointly. However, this does not apply to unmarried couples.

Opportunity

If an unmarried couple own two residences then maximum relief can be obtained by each owning one property outright rather than owning the two properties jointly. However, it is advisable that each person make a s222(5) election in favour of the property they own. This is because both properties might be considered residences for both of them, even though they each do not own one property. It might be argued that each party only has a gratuitous licence to occupy the property they don’t own [see CG64470] but it is unsafe to rely on this particularly if both parties contribute to the upkeep of both properties. ESC D21 provides an extended time limit to make an election where a person is not aware of the need to make one and he only has a negligible interest in one property but, again, it is unsafe to rely on this.

(This posting is an extract from Graham Buckell's publication "CGT - PPR Relief" that will form part of the Landmark Tax Options service - to see a full list of the Tax Options planning articles and make a no obligation advance order, click on the title of this posting)

Trade Mark Searches

A recent High Court case has determined that it is necessary to document a search of existing Trade Marks if you want to defend a Trade Mark challenge. For new products or services this would seem to be a prudent course of action.

You can advise clients who are contemplating the launch of a new brand that as well as searching Companies House register and Google, they should also search the Intellectual Property Office records to see if there is a registered Trade Mark. There are numerous firm set up as Trade Mark and Patent Agents that will do this for clients. Or, you could direct them to http://www.ipo.gov.uk/.

To see the free search option offered by IPO click on the title of this posting.