Stephen Parnham Taxation Limited
Cheltenham Chartered Tax Advisers
Advising throughout the UK
The Chancellor has asked the Office of Tax Simplification (OTS) to undertake a review of capital gains tax (CGT) and aspects of the taxation of chargeable gains, in relation to individuals and smaller businesses. In his letter commissioning the review,…
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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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The current crisis is completely absorbing for most of us but there are, nevertheless, important tax changes which it is well to remember will be effective in a few days time. From 6 April 2020 a minor overhaul of capital…
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Bringing taxation on assets in line with the regime for income tax could raise £90bn over five years, according to a recent report from the Institute for Public Policy Research (IPPR) which is calling for the removal of the capital…
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HMRC has launched a consultation on changes to private residence relief from capital gains tax that were announced at Budget 2018. As from 6 April 2020, lettings relief will be restricted to owners who share occupancy with a tenant. Lettings relief…
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During the financial downturn in 2008, a taxpayer had no option but to take out a buy-to-let mortgage to support his continued ownership of a property as no other type of finance was available to him. Contrary to the lender’s…
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The Upper Tax Tribunal has agreed that HM Revenue & Customs was right to deny entrepreneurs’ relief to a pair of company owners, despite acknowledging that the outcome was unfair and the relief had been devised precisely for entrepreneurs like…
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The only genuinely unexpected measure in yesterday’s Autumn Statement is the ending of favourable tax treatment of employee shareholders, a policy introduced in 2013. Employee shareholder status was originally intended as a way of allowing small companies to grow rapidly…
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New guidance has been issued by HM Revenue & Customs concerning a recently discovered capital gains tax avoidance scheme. HM Revenue & Customs has identified a scheme that attempts to exploit Entrepreneurs’ Relief by turning income into a capital gain,…
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The government will publish its Autumn Statement on 23 November 2016. This week’s blog will see four posts on what someone might expect to see over the next four or five years by way of reforming our overly complex tax…
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