Tax queries

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Just a couple of questions i would like to brush up on. I know the general jist, but Id like some input into what the AAT examiners may be looking for, when answering the following;

1. Importance of client confidentiality

2. The rules and regulations regarding tax returns (Dates etc... always forget these)

Cheers

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Tax queries

    1. Basic professional practice - would you use an accountant that didn't keep your details confidential?

    2. Ummm...me too. I really need to revise this stuff. I meant to get it on my wiki at the weekend but never got round to it... soon though I hope.

    Chris
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Tax queries

    Nice one. Another thing ive just thought about is the benefit of a company van. Cant remember how that is treated? Any ideas?
    Is it something to do with where the van is kept?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Tax queries

    The benfit is calculated on the age of the Van. If it is more than 4 years old, the benefit will be £500 per annum. It if it less than 4 years old the benefit will be £350 per annum.

    With the rules and regulations, the annual returns must reach HMRC by 31st January. If the client wants HMRC to calculate their taxable income etc they must send their paperwork in by the 30 September.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Tax queries

    Thanks, Very much appreciated!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Tax queries

    Christheo I think you have the "Van ages" the wrong way around.

    Less than four years = £500
    Four years or more - £350

    As an additional note:
    Drivers with low private use of a shared van may opt to pay tax on £5 per day.

    Regards

    Dean
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Tax queries

    Yep your right, cheers for that.

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