COMPANY TAX - 12.06.2024
Disincorporation - is it worth it?
Your business has suffered a dip in the last couple of years and you’re looking to downsize. As part of the process you want to close your company and operate as a sole trader instead. What are the tax consequences?
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CAPITAL GAINS TAX - 28.05.2024
Was CGT declaration required?
Our subscriber recently sold a property making a large gain. For some of the time he had occupied it as his home and at other times he shared its occupation. Was he required to declare anything to HMRC?
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IN THIS ISSUE: TAKE ADVANTAGE OF TAX BREAKS FOR WOODLANDS - 21.05.2024
Woodlands: tax breaks for landowners
Your client owns land mostly covered by woods. He’s heard that there are tax breaks available if he exploits the land to make profits. He’s correct in principle, but what are the main traps to look out for?
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INVESTMENTS - 28.05.2024
Warning for cryptoasset investors
Changes to the self-assessment tax return signal HMRC’s intention to go after those buying and selling cryptoassets. What’s the full story?
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TRUSTS - 01.05.2024
Tribunal considers CGT relief claim by trustees
Business asset disposal relief (BADR) can be claimed by trustees as well as individual taxpayers. However, as with most trust-related tax matters, there are additional considerations. What did a recent Tribunal case consider in this area?
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LOSSES - 30.04.2024
Were capital losses deductible for income tax?
The First-tier Tribunal (FTT) recently considered if an individual was entitled to tax relief for losses when a company he invested in went bust. It ought to have been simple but a refinancing deal complicated matters. What did the FTT decide?
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