Author: Chloe

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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ATED & CORPORATION TAX

We have a company which has to pay the Annual Tax on Enveloped Dwellings (ATED) charge as the property is let to the shareholder’s son. Is this an allowable expense for the company?    To read the full article – CLICK HERE

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WORKPLACE MEALS

My client owns a pub/restaurant and provides his staff with a meal halfway through their shift, is this a taxable benefit?   To read the full article – CLICK HERE

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EU CHANGES 1 JULY 2021

Many of my clients are asking me about “the changes in the EU” from 1st July 2021.  What are they talking about?   To read the full article along with the latest updates – CLICK HERE

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Margin Scheme and Sale of Converted Campervans

My client has started a new business buying second hand commercial vans and converting them into campervans before selling. They also buy existing campervans and repair/refurbish these. My client understands they can use the VAT Margin Scheme for these sales – is this correct?    To read the full article – CLICK HERE

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Employee Ownership Trusts

My client is a director and majority shareholder of a successful trading company (“the Company”), and as he is approaching retirement, we are discussing succession issues. The client has had many offers for his business, but he prefers not to sell to a competitor. He wants to realise a capital gain in recognition of his […]

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IMPORT ONE STOP SHOP (IOSS) & ONE STOP SHOP (OSS)

My client supplies digital services to consumers in the EU and runs an e-commerce business selling CDs and MP3 players on their website that are sold in consignments of less than £135/150€. My client was registered for MOSS in the UK and from the 01 January 2021 they registered in the EU for Non-Union MOSS. […]

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PENSIONS AND TAPERING

I have a client that has taxable income for the tax year ended 5th April 2021 of £230,000 of which rental income is around £23,000 and attracts relief for the mortgage interest payments. Their employer has made £15,000 contribution and they have also made personal contribution of £15,000. Would they get caught by the tapering […]

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