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The 5 year valuation rule trap The Annual Tax on Enveloped Dwellings (ATED) contains a trap which can blow-up in your client’s face: the five-year valuation rule. When a residential property is held through a company (or other non-natural person eg a trust) it must be valued on acquisition to determine whether it is worth […]
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 […]
In 2016 a targeted anti-avoidance rule (TAAR) was introduced to prevent individuals from winding-up their close company, taking out the retained cash at capital gains tax rates and then continuing the same business in another vehicle. In HMRC Spotlight 47 HMRC declare that schemes designed to step around this TAAR, which involve selling the company […]
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, […]
Entrepreneurs’ relief (ER) is widely misunderstood by people who don’t read the legislation. For ER to apply to a gain arising from the disposal of shares or securities, the company must be the individual’s personal company for a full 12 months ending with the disposal date, or the date the company ceases to trade (if […]
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There are so many challenges facing business these days and trying to resolve them without tripping up over the tax legislation is not always easy. We specialise in advising how to overcome these issues in a pragmatic and tax efficient manner. Have a look at some of the areas where we may be able to […]
Our range of specialist tax advisory services are provided to our clients and the clients of professional service firms. We are referred to clients by their normal advisor where the adviser recognises that their client has an issue but they do not have the specialist knowledge to handle the particular matter. The relationship we have […]