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My client is a builder who works mainly as a sub-contractor for other VAT and CIS registered building firms. They are registered for VAT on the flat rate scheme as they are predominantly labour-only. Due to the introduction of the domestic reverse charge for construction on 1 March 2021, I am concerned that my client […]

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 […]

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 […]

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

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 […]

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 […]

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 […]

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 […]

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 […]

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

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

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

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

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

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 […]

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 […]

An increasing number of my clients are young people basing their careers on social media platforms, with income as influencers and YouTube contributors and I am familiar with the VAT place of supply issues this raises. I have now been approached by a potential new client who is a “content creator” using the platform OnlyFans. […]

My client is in the process of selling their main residence and has asked me if there would be any capital gains tax to pay on disposal. The property, located in Manchester, was acquired in March 2010 and my client lived there until March 2016 – they had taken a job in London and decided […]

My client is a partnership buying a disused farm building from the owner who has opted to tax it. The client is then converting it into a children’s day nursery. They will occupy the building and run the nursery themselves. Are supplies by a nursery VAT exempt, and can they reclaim any of the input […]

In light of recent headlines surrounding the use of webcams to monitor employees, a client would like to know more about the legalities of this as well as other surveillance methods.   To read the full article – CLICK HERE

It is no longer possible to claim the 4th grant, however, the government has announced the availability of a 5th grant.  It will cover the period from May 2021 to September 2021.   To read the full article along with all updates – CLICK HERE

A client is worried about their employees’ reluctance to return to the workplace after months of working from home. They would like to some advice on how they can handle the situation.   To read further – CLICK HERE

My client is a restaurant which had a major refurbishment of their premises.  They employed a builder to carry out the work.  The job was completed and invoiced with VAT.  The restaurant then claimed the input tax on its next available VAT return and submitted to HMRC.  Given the size of the repayment due to […]

Our practice is getting an increasing number of queries from clients who have bought electric cars which will be used for both business and private purposes. Please could you clarify how to treat input tax recovery on the charging costs for my clients?    To read more, click HERE

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 […]

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 […]

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

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 […]

  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 […]

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.   […]

Lockdown Information | 5th November 2020 As England faces its second lockdown until 2nd December, there are number of new lockdown rules that apply for all businesses, including which businesses are able to stay open, amendments to the furlough scheme and further changes made by the UK Government. How will your business or employees be […]

Although the first round of government Covid-19 (coronavirus) business support schemes are coming to an end, the fundamental problems caused by the pandemic are still very much with us. In acknowledgement of this, the government has cancelled the autumn Budget and announced various new measures in an unexpected Winter Economy Plan. We outline key aspects […]

Do you need to know more about the Job Support Scheme and what it consists of. Will you be eligible? and how can you apply for it if so? The Job Support Scheme (JSS) will replace the Job Retention Scheme (JRS). You may know that the JRS has been in place since March 2020 to […]

Our managing partner at the 2016 WGCA Annual Dinner. As chair of the district society, Khuram was on hand to ensure the evening ran smoothly with guest speaker Bill Turnbull.