COMPANY SALE - 22.10.2020
Selling the company: taxing the consideration correctly
One of your clients has built up their trading company from scratch. They have received an offer for their shares which they are keen to accept, but the purchaser is proposing to issue loan notes as part of the consideration. What do you need to advise?
PRIVATE RESIDENCE RELIEF - 22.10.2020
Buying property in stages: a risk to tax relief?
Property purchase is an area in which HMRC is taking more interest and transactions that look out of the ordinary may attract unwelcome compliance attention. Why do clients buying multiple properties in stages run a particular risk?
CORONAVIRUS - TRADING LOSSES - 22.10.2020
Don’t miss opportunities to claim now
Coronavirus is likely to have hit clients harder in 2020/21 than in the previous tax year. However, how can you ensure they maximise tax reliefs as soon as possible?
MAKING TAX DIGITAL - 22.10.2020
Making Tax Digital: what’s coming next?
Over the summer of 2020 the UK government finally committed to the next step of the Making Tax Digital (MTD) rollout. There is a lot of information to communicate to clients. What are the key points?
LOSSES - 22.10.2020
Can losses be transferred to a new company?
A loss-making client of yours is in the process of introducing new shareholders as part of a turnaround plan. The shareholders wish to start afresh and transfer the trade to a new company. Can the historic trading losses be transferred along with the trade?
EXPENSES - 21.10.2020
The tax-free benefits of business travel
Handling your employees’ travel expenses claims is time consuming and the tax and NI requirements can be tricky. The good news is that the process can be simplified by paying flat rate tax-exempt allowances. What are they?