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The introduction of the loan charge and its implementation has been controversial and many people see it as deeply unjust and unfair law. Following an independent view by Amyas Morse, HMRC has comprised on both the scope of the charge and payment terms and issued revise guidance, which can be read here. Now where the […]
All three of the main Political Parties included a commitment in their pre 2019 General Election manifestos to either abolish or “review and reform” entrepreneurs’ relief (ER). This sounds like the death knell for ER to apply to the proceeds from company liquidation. There may be opportunities to take advantage of Entrepreneurs’ relief now to […]
Private residence relief provides relief from capital gains tax arising on the disposal of a property which has been the taxpayer’s only or main residence. In the recent tribunal decision of Hezi Yechiel TC06829, consideration was given as to whether, for the purposes of the legislation, Mr Yechiel occupied the property in question, 6 Beaufort Drive, as […]
Loan Charge – Government Review Groups who have been campaigning for the 2019 Loan Charge to be scrapped won a small victory last week. They secured an amendment to the Finance Bill which forces the government to review the loan charge legislation by 30 March 2019. This does not remove or alter the loan charge, […]