Author: David Mann

Company Rental Losses

My client is a trading company and due to trading difficulties in the current year, they have made a loss in their trade, which they will carry back to the profitable previous year. They also have a rental property in the company that also made a loss, can they carry that loss back against the […]

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Supply of Admission Tickets

My client is an online retailer of cinema and theatre e-tickets. Since the announcements across the UK for relaxing COVID related restrictions there has been a surge in sales. The e-ticket is for admission only and can be used in certain cinemas and theatre chains nationwide, irrespective of the regional price differences for admissions. The […]

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Potentially Exempt Transfers

I want to set up a discretionary trust for my grandchild with £100,000 cash but I have already gifted them £325,000 in cash directly so will I now have to pay inheritance tax if I set up this trust?   To read the full article – CLICK HERE

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ATED & New Dwellings

My client has a limited company that has acquired some land to develop. They are going to develop some high value residential properties that are going to be let out on a commercial basis to third parties. One of the properties is going to be the main residence of the sole director/shareholder of the company […]

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Post-Brexit Import VAT Procedures

  Post-Brexit Import VAT Procedures. There are now three possibilities for businesses importing goods from both the EU and third countries, that is, anywhere in the world: The original procedure which is still in use, requires the importing business to pay the import VAT on clearance of the goods into free circulation and then claim […]

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Recovery Loan Scheme

Recovery Loan Scheme. The final stage of the Government’s loan packages will open on 6th April 2021, this scheme is expected to run until 31st December 2021. Businesses who have received prior COVID funding will be eligible to apply for a Recovery Loan Scheme, in so far as the business meets the qualifying conditions.   […]

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PPR and Permitted Area

Our clients are downsizing and are disposing of their main residence. The property has 2 acres of garden. Would the whole area qualify for Private Residence Relief?   Want to find out more? Click here  

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SDLT Changes From April 2021

My clients are a non-resident married couple who have a portfolio of UK residential properties in both sole and joint ownership. As part of an Inheritance Tax planning exercise, the husband is considering the transfer of some of his properties to his wife and this will include a transfer of debt which we understand is treated […]

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TQOTW – Triangulation Transaction Post Brexit

My client is a wholesale supplier of furniture; he buys from VAT registered manufacturers in the EU. Some of the goods are delivered to him in the UK, but some of the goods are sent direct by the manufacturer to my client’s business customers in the EU.  He is fine with the supplies delivered directly […]

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February 2021 Newsletter

Our latest Newsletter is designed to help you navigate the challenges of 2021. We continue to advise on the emergency support available via HMRC, focussing on repaying VAT deferred in 2020, and compliance with the Self-employment Income Support Scheme. Front page news: Just one click? Get to grips with what your Business Tax Account can […]

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