Business
4th June 2020
Business Property Relief and Agricultural Property Relief are both ways of passing on assets without needing to pay Inheritance Tax. The reliefs can currently achieve up to a 100% tax saving, meaning assets that fall into these categories – such…
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1st March 2018
Anyone observing family disputes over farming businesses over the past few years will probably have reflected on the wisdom of making succession plans as clear as is practical. Unfortunately, family ‘understandings’ lack clarity and formal undertakings. Chapter 3 of my…
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17th January 2017
The House of Commons Treasury Committee has published a report criticising HM Revenue & Customs’ Making Tax Digital (MTD) project, which will require small businesses, landlords and the self-employed to keep digital records of income and outgoings and report them…
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16th September 2016
Another case illustrating that it is not a good idea to where businesses are concerned for an owner to follow a succession plan and then backtrack on that plan on later personal inclination or circumstances. In Moore v Moore, 2016 EWHC 2202…
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1st December 2015
You may be forgiven for regarding last weeks Autumn Statement as being a little on the bland side as far as taxation goes but if you are in business or are involved with investment properties then you really do need…
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11th October 2015
Tax policies introduced during the first decade of the 21st century encouraged the use of companies as a trading vehicle. The result was that many traditionally self-employed people incorporated their businesses, took salaries equal to the income tax personal allowance…
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28th July 2015
The second Finance Bill 2015 and its explanatory notes were released on 15th July. The Bill received it’s second reading in the House of Commons on 21st July, although MPs will not debate it until September, after the summer recess. The Bill is expected…
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10th July 2015
Re-defining the Taxation of Dividends Post April 2016 Planning As a result of the changes announced in the budget, tax planning involving dividends will become less attractive, and we are likely to see a move towards paying salary rather than…
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8th July 2015
The Personal Allowance The Chancellor was already moving in the direction of a £12,500 personal allowance with the allowance previously due to rise to £10,800 in 2016-17. However, in the Budget he has now said that the first £11,000 of…
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1st July 2015
The Chancellor must strike a balance between commitments made prior to the election and the need to generate revenue. The Conservative Party’s manifesto pledge for a tax lock on income tax, VAT and national insurance limits the Chancellor’s room for…
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