Stephen Parnham Taxation Limited
Cheltenham Chartered Tax Advisers
Advising throughout the UK
The first part of this blog (posted 16 November) focussed on those elements of the proposals pertaining to the private client sphere. I now turn to those which could impact on the business and entrepreneurial spheres. Taxing Share Sales…
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Rather surprisingly, the Office of Tax Simplification (OTS) has rushed out its initial report on capital gains tax (CGT). The report was issued only two days after the closing date for submissions and despite the fact that the Government has…
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On 14 July the chancellor wrote a letter to the Office of Tax Simplification requesting it “undertake a review of capital gains tax”. Interestingly, there was no announcement of the letter on the Treasury website. The tone of the correspondence…
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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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