PROFIT EXTRACTION - 29.08.2024
Trade personal assets for tax-free cash from your business
You need some quick cash. You could take it as extra income from your company, alternatively it could lend it to you. The trouble is this can result in tax or NI bills for you and your business. How can you extract the cash more efficiently?
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CAPITAL LOSSES - 27.08.2024
Did loss relief apply in light of arrangements?
Earlier this year, the First-tier Tribunal (FTT) 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 was the outcome?
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CAPITAL GAINS TAX - 01.08.2024
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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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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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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