Tax Tips & Tools. 2015/16 Edition. Tax Tips & Tools has been comprehensively updated for the 2015/16 tax year

Transcription

1 A comprehensive collection of tax calculators, spreadsheets, checklists and other tax tools Tax Tips & Tools Tax Tips & Tools has been comprehensively updated for the 2015/16 tax year 2015/16 Edition

2 Tax Tips & Tools has been comprehensively updated for the 2015/16 tax year This latest edition of Tax Tips & Tools contains a total of 125 highly practical and easy to use tax calculators, spreadsheets, checklists and other tax tools. Tax Tips & Tools allows you to make complex calculations quickly and easily. For example, the Car Tax and Tax Credits Calculators allow you to advise clients on these issues in a matter of minutes something that could otherwise take hours. Tax Tips & Tools has been designed for tax practitioners, particularly those who serve small and medium size businesses. If you are committed to providing your clients with tax advice which they perceive to be valuable and are happy to pay for, you absolutely need the latest edition of Tax Tips & Tools. A brief description of just some of the other tools and a complete list of contents can be found on the following pages. Tax Tips & Tools is split into the following sections: Inheritance and Trust Tax Tools Income Tax and Corporation Tax Tools Interactive Tax Checklists Payroll and Construction Industry Scheme Tools NI and Tax Credits Tools Capital Gains Tax and SDLT Tools Value Added Tax Tools Administrative and Other Tools Mind Maps Tax Tips & Tools allows you to advise clients in a matter of minutes - not hours s Tax Tips and Tools is a brilliant time saving resource created specially by a tax professional who understands the needs of a busy practice. We have used it since its inception, and cannot recommend it highly enough. It will pay for itself many times over. Gulam Shaikh, Shaikh & Co

3 New for 2015/16 Order online at: the2020group.com SAVINGS RATE AND DIVIDEND INTERACTION The introduction of the first 5,000 of savings income taxable at 0% from April 2015 can significantly change the method of extraction of funds from a company. Interest on directors loan accounts with credit balances now needs to be considered. The calculation model shows the dividends that can be extracted based on the savings and other income. There is also an explanatory letter to clients and a board minute template to approve the payment of interest. Also included is the Beneficial Loan Interest Calculator that can be used to calculate the interest (on a daily basis) on directors loan accounts credit balances. Notable Updates and Tools for 2015/16 INTERACTIVE TAX CHECKLISTS The existence of the Interactive Tax Checklists is probably one of the best kept secrets of Tax Tips & Tools. These checklists provide a really powerful means of providing a pro-active service when reviewing a client s tax affairs, whilst ensuring that everyone in the practice is providing a consistent level of service. There are 4 checklists which cover Income Tax, VAT, PAYE and Corporation Tax. There are over 150 possible tax planning questions and opportunities to consider. Sections not required can easily be omitted from the checklist report. Additionally, there is an option to add free text where required. The report can be generated as a Word document for further editing as necessary. More tools on next page > SHOULD YOU NOT BE COMPLETELY SATISFIED WITH THE PRODUCT, TAX TIPS & TOOLS COMES WITH A FULL 28 DAY MONEY BACK GUARANTEE

4 Notable Updates and tools for 2015/16 As well as Income Tax, there are specific Corporation Tax, VAT, PAYE and Meetings Checklists. MIND MAPS This is another tool for planning and tax advice. With an overview of the subject in graphical format as well as detailed help notes. FURNISHED HOLIDAY LETTINGS Often clients are not asked the relevant questions when preparing furnished holiday lettings statements especially recording the number of days actually let. This model includes a page for listing the let days as well as the calculations to decide if it actually qualifies for FHL treatment. CASE STUDIES The case studies section has various calculations to highlight some of the vagaries of the tax system. In particular, we would draw your attention to the case studies involving chargeable event gains. As soon as you become aware that someone has such an event in a tax year, you should start planning and reviewing the tax implications. Our example shows a 356% tax relief on a pension contribution when it interacts with top slicing relief on chargeable events. CLIENT FORMS FOR COMPLETION Some of the forms are designed to be used by clients. The Gift Aid Summary for example is simply a form to list payments under Gift Aid. Estate Valuation is another form that can be sent as an Excel file to a client to complete and send back. As tax practitioners we don t always know about clients funds in ISAs or their portfolio valuations of shares, unit trusts, properties etc to establish if there are any potential IHT liabilities. TAX CREDITS Even though universal credits are looming, we still have tax credits with us. Even if you choose not to advise on tax credits (as per your engagement letter) you can still point out to clients their potential entitlement. The case studies once again indicate how valuable this can be in certain circumstances. 84 Tools have been updated for 2015/16 See the full list on the following pages

5 Tax Tips & Tools 2015/16 Edition Here is a comprehensive list of the tools within each section INHERITANCE TAX AND TRUST TOOLS 1 Estate Valuation 2 IHT Annual Gifts out of Income Summary Form 3 IHT Quoted Securities Valuation Tool 4 Inheritance Tax Calculator 5 Intestacy Rules Handout 6 Trust Tax Calculators INCOME TAX AND CORPORATION TAX TOOLS 7 AddBacks Comparison 8 Admitting a Partner 9 Beneficial Loan Calculator 10 Bonus v Dividend Calculator 11 Car Benefits v FPCS 12 Car CO2 Emissions Listing Sheet 13 Car Tax Calculator 14 Change of Accounting Date 15 Corporation Tax Calculator 16 Deferred Tax Calculator 17 Directors Payslips 18 Director Salary Letters 19 Disincorporation Calculator 20 Dividend Taxation 21 Effective Tax Rates Profit Extraction 22 Extraction of Funds Grossing Up Calculator 23 Farming Losses Calculator 24 Flat Rate Expenses 25 Form 930 What If? Calculator 26 Fuel Benefit Checker 27 Furnished Holiday Lettings Data Recording 28 Furnished Holiday Lettings Interactive PDF 29 Gift Aid Summary 30 High Income Child Benefit Charge 31 Income Tax Calculator (Form 930) 32 Incorporation Action Checklist 33 Incorporation Elections 34 Incorporation Issues 35 Interactive Mileage Expense Calculator 36 Lease Buy or Contract Hire 37 Maximum Dividend Calculators 38 Maximum Pension Contributions 39 Pension Certificate of Earnings 40 Pension Company or Personal Contribution? 41 Pension Planning Letter 42 Pre-Incorporation Questionnaire 43 Property - Inside or Outside a Company? 44 Salary Sacrifice Bikes 45 Salary Sacrifice Cars 46 Salary Sacrifice Pensions 47 Salary to PA or NI Limit? 48 Salary v Dividend Calculator 49 Savings Rate and Dividend Interaction NEW 50 Savings Rate Letter and Company Minute NEW 51 SEIS Tax Relief Calculator 52 Should I Incorporate? 53 Should I Incorporate? Practical Guides 54 Trading Vehicle Assessor 55 Use of Home as Office Calculator 56 Use of Home for Business 57 UTR Validator 58 Visual Tax Planner INTERACTIVE CHECKLISTS 59 Interactive Corporation Tax Checklist 60 Interactive PAYE Review Tool 61 Interactive Pre Year End Meet Checklist 62 Interactive Tax Checklist Income Tax 63 Interactive VAT Review Tool

6 Tax Tips & Tools 2015/16 Edition continued PAYROLL AND CONSTRUCTION INDUSTRY SCHEME TOOLS 64 Construction Industry Scheme Payment Sheets 65 Employment Status Indicator 66 IR35 Deemed Salary Calculator 67 Net to Gross Calculator 68 PAYE Coding Notice Checker 69 PAYE Penalties Calculator 70 PAYE Settlement Calculator 71 Payroll Calculator Weekly/Monthly 72 Payroll Checker Annual 73 Payroll Engagement Letters 74 Payslip 75 Redundancy Calculator 76 RTI Penalties Calculator 77 Systemising Payroll Payroll and CIS Costing Tools 78 Systemising Payroll Payroll Procedures Letter 79 Systemising the Payroll Function 80 Year End PAYE Return Interactive PDF 81 Year End PAYE Standard Letters NI AND TAX CREDITS TOOLS 82 Class 4 NI Losses 83 Maximum NI Calculator 84 Pension Credits 85 Tax Credits 2015/16 (Provisional) 86 Tax Credits 2014/15 (Actual) 87 Tax Credits Trading Losses CAPITAL GAINS TAX AND SDLT TOOLS 88 CGT Asset Disposal Calculator 89 CGT Indexation Calculator 90 CGT Lease Premium Calculator 91 Entrepreneur s Relief VALUE ADDED TAX TOOLS 92 VAT Annual Scheme Calculator 93 VAT Capital Goods Scheme 94 VAT Cash Accounting Calculation 95 VAT Ebay and Paypal Reconciliations 96 VAT Flat Rate Scheme Calculator 97 VAT Partial Exemption Annual summary Special 98 VAT Partial Exemption Annual summary Standard 99 VAT Registration Limits Tool 100 VAT Registration Number Validator 101 VAT Relief for Bad Debts 102 VAT Relief for Bad Debts Flat Rate Scheme 103 VAT Scale Charges Calculator 104 VAT Summary Working Papers ADMINISTRATIVE AND OTHER TOOLS 105 Client Help Sheet System 106 Interest on Tax Calculator 107 Personal Tax Organiser 108 RTI Filing Trackers 109 SA Payment Form 110 Small Business Rate Relief Calculator 111 Student Loan Repayment Calculator 112 Tax Department Lead Generation 113 Tax Liabilities (Graphical Summary) 114 Tax Liabilities Summary 115 Tax Liability Graphs 116 Tax Manager 117 Tax Return Monitoring Submissions Report 118 Tax Reviewer 119 The 20+ Steps to Completing a Tax Return 120 VAT Tracker 121 Year on Year Tax Liabilities MIND MAPS 122 Extracting Profit 123 Higher Rate Taxpayer 124 Tax Administration Procedures 125 Tax Efficient Remuneration

7 Order Form Tax Tips & Tools 2015/16 Edition To allow for quick and easy access, Tax Tips & Tools is now delivered as a downloadable file sent via upon successful completion of your purchase. If you prefer to receive this product on CD (sent by postal mail), there is an additional charge of 30. PRODUCT 2020 Member Non Member Total Tax Tips & Tools 2015/16 Upgrade* Tax Tips & Tools 2015/ Additional Office License Optional CD (via postal mail) * Upgrade from any previous version of Tax Tips & Tools. Each product gives you a license for unlimited use in one office only. For multiple offices you need to purchase additional office licenses, as above. CONTACT DETAILS Name Company / Organisation Address Subtotal 20% Total Tel Postcode PAYMENT DETAILS See above for fee calculation I would like to pay by the following method: Online at By Bank Transfer to: Barclays Bank plc - Account No: Sort Code: (Please quote company name) For international bank transfers IBAN: GB03 BARC SWIFT: BARCGB22 By Credit Card please charge my : Delta Visa Maestro Mastercard Name on card Card No. Issue No. Start Date Exp Date Cardholder s signature Please add billing address below if different to the address above Postcode By Cheque made payable to 2020 Innovation Training Limited

8 How to purchase Purchase online : Go to Telephone : Call us to place your order +44 (0) By Post : Send your order form and payment to: 2020 Innovation Training Ltd, 6110 Knights Court, Solihull Parkway Birmingham Business Park, Birmingham, West Midlands B37 7WY Upon receipt of your order form and payment, a VAT invoice will be issued INNOVATION is a leading organisation providing innovative solutions for progressive accountants and tax professionals worldwide. We recognise that firms need to constantly improve their client proposition including the use of new technologies to become ever more competitive and efficient, understanding what additional services clients are looking for and how marketing can effect these changes MEMBERS that are looking for growth and/or improved profitability, enjoy access to the latest tools and templates, for marketing and managing their practice also provides an extensive range of services including: - Membership Group - Workshops and Conferences - Webinar Programme - Focus Groups - Products, Forms, Letters, Templates and Tools - Auto Enrolment solutions for the UK - Access to Tax Planning services - Access to Wealth Management services - Consultancy Practice Exchange (Merger & Acquisitions) Tax Protection tax fee protection insurance - Access to a range of Partner Services who can add value to your the2020group.com/facebook the2020group.com/linkedin the2020group.com/youtube DATA PROTECTION ACT By completing and returning the registration form, you agree to 2020 Innovation Training Limited processing and storing your data for the provision of products and services, analysis and administration purposes. We may use your details to send you information about other products or seminars. If you do not wish to receive such communications please tick this box and return the form to: 2020 Innovation Training Limited, 6110 Knights Court, Solihull Parkway, Birmingham Business Park, Birmingham B37 7WY or call +44 (0) Innovation Training Ltd 6110 Knights Court, Solihull Parkway, Birmingham Business Park Birmingham, West Midlands B37 7WY Tel: +44 (0) products@the2020group.com Visit the2020group.com for more information on our membership group, products, webinars, seminars and conferences Innovation Training Limited 2015