Author: Chloe

GIFT WITH RESERVATION FOR A NON-RESIDENT

My client has sold her house to a close friend who is apparently willing for my client to remain in the property for as long she wants rent-free. The friend is a wealthy individual who is resident overseas. I am concerned whether there may be a Gift with Reservation for Inheritance Tax purposes.   To […]

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Cryptocurrency

Two of my personal tax clients have come to me querying the implications of disposing part of their respective cryptocurrency holdings. Client A has accumulated a large wallet of bitcoin from various purchases made over the last 6 years. Client B has earned some cryptocurrency from mining, they also stored a part of their cryptocurrency […]

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ELECTRIC CARS

I have been advised by my dealership and accountant that I can reclaim VAT on the purchase of a new electric car.  Is this correct as this would be a major consideration in the decision to purchase?   To read the full article – CLICK HERE

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DIY CLAIM AND EU VAT

My client is in Northern Ireland and is building his own house.  He sourced his kitchen equipment in the Republic of Ireland and because he is a private individual, not VAT registered, has been charged Irish VAT. We did question whether the supplier should be charging UK VAT under the distance selling rules but were […]

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International Employment

My client is a German employer and is looking to employ a UK resident who will work three weeks per month in the UK and the remainder of the month in Germany. The employer has a place of business in the UK and also has a base in Germany. How would my client account for […]

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VAT LIABILITY OF COVID TESTING SERVICES

Since the start of the Coronavirus pandemic many of my clients have become involved in providing Covid test kits and Covid testing services. Some clients are selling self-administered test kits, some are providing PCR testing for travellers and other clients are supplying testing services by visiting business premises to test on-site employees. Can you please […]

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LOAN TO SHAREHOLDERS (NON-EMPLOYEE)

I have a client who owns 25% of the ordinary voting shares of a close company, but she is not a director or employee nor is she connected to a director or employee of the company. The company has lent her father £25,000 interest-free. As neither her father nor the client is an employee or […]

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INTERACTION OF PPR AND S260 HOLDOVER RELIEF

The trustees of a discretionary trust have transferred a residential rental property to a beneficiary and held over the arising gain under s260 TCGA1992. There was no holdover claim made when the property was transferred into the trust ten years ago. The beneficiary plans to live in the property for a few years and is […]

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SDLT ADDITIONAL RATE

My client owns several residential properties in her sole name.  Her spouse wishes to buy a buy-to-let property in their own name.  Will Stamp Duty Land Tax higher rates for additional dwellings apply?    To read the full article – CLICK HERE

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