Investment company switch could save inheritance tax
12th August 2022
Posted in Articles, IHT by Andrew Marr
The issue Shares in investment companies are generally subject to inheritance tax (IHT) when the shareholder dies. This position can be…
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Furnished holiday lets and rollover relief
11th August 2022
Posted in Articles, Business Asset Disposal Relief, Business Property Relief by Tom Minnikin
The issue Furnished holiday lets (‘FHLs’) are treated more generously for tax purposes than normal residential buy-to-let properties. Specifically, a FHL…
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1 September 2022 trust registration deadline looms
29th July 2022
Posted in Articles, Trusts and Estates by Andrew Marr
The issue With the exciting announcement of a new Prime Minister just around the corner, you could be forgiven for forgetting…
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Divorce and Capital Gains Tax (Should I stay, or should I go now?)
26th July 2022
Posted in Articles, Capital Gains Tax, Principal Private Residence Relief by Phil Skrynski
As discussed in our Tax Bite of December 2020, it has always been a cruel outcome that divorcing couples who fail…
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Linked transactions can save stamp duty land tax (SDLT)
15th July 2022
Posted in Articles, Stamp Duty Land Tax by Andrew Marr
The issue In general, SDLT linked transactions rules were introduced to stop a purchaser paying too little SDLT. Without these rules…
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Exceptional circumstances in residence test
13th July 2022
Posted in Articles by Andrew Marr
The issue The statutory residence test (introduced in 2013) is a very scientific way of determining whether a person is UK…
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Overseas holiday homes bought through a company
8th July 2022
Posted in Articles by Andrew Marr
The issue Generally speaking, it is not advisable to buy property for personal enjoyment through a company. This will usually trigger…
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Can a section 455 loan charge be a cheap option?
27th June 2022
Posted in Articles by Andrew Marr
The issue Generally accepted wisdom dictates that directors’ loan accounts need to be repaid within nine months of a company’s year…
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Show all your cards in a tax clearance
20th June 2022
Posted in Articles by Andrew Marr
The issue There are various clearance mechanisms whereby HMRC will provide assurance that they will not impose penal legislation to deny…
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Convert a property to a furnished holiday let?
13th June 2022
Posted in Articles, Business Asset Disposal Relief, Capital Gains Tax by Andrew Marr
The issue Normally a residential rental property would be subject to a 28% capital gains tax (CGT) rate on its disposal….
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