Stephen Parnham Taxation Limited
Cheltenham Chartered Tax Advisers
Advising throughout the UK
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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An unannounced amendment to the Finance Bill, under which gains from certain property disposals will be charged to income or corporation tax rather than capital gains, should not adversely affect buy-to-let investors, according to the National Landlords Association. The government…
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The Government appears to have taken note of concerns over retrospective taxation and amended the Finance Bill 2016 in an attempt to remove the possibility in certain circumstances. Entrepreneurs’ relief was introduced by the Treasury as an incentive to entrepreneurship…
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While capital gains tax taper relief is long gone its effects still surface occasionally, so it is worth noting the Case of Stolkin v HMRC ([2016] EWCA Civ 447) which concerned the order in which reliefs are applied. Stolkin is…
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The First-tier Tax Tribunal has overruled a decision by HM Revenue & Customs that shares which have no right to a dividend are not entitled to entrepreneurs’ relief from capital gains tax. The shares in question were created when a…
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The High Court has found that transfers into trust which had triggered disastrous and apparently unexpected tax consequences could be rescinded for mistake using equitable tracing. A father and son who farmed in partnership had transferred several pieces of land…
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