Knowledge

Business Asset Gift Relief is available to defer the capital gain on gifts of qualifying business assets between parties through a joint election. Its effect is to defer the Capital…

HMRC have recently concluded what they describe as research into the use of FICs by the Family Investment Company team, and concluded that there is no need for a specialist…

Whilst there is no change to the Patent Box qualification criteria, there is a major change to the treatment of IP income and taxable profit under the rules. Whereas a…

The rules generally apply to all sole traders and also to members of general partnerships and Limited Liability Partnerships (“LLPs”) and will have an impact on anyone who does not…

  Key points Clients often prefer a company to a trust as it is a structure with which they are familiar. Trusts are flexible structures – which also makes their…

By Sam Hart, Associate Partner & Head of Private Client Tax Originally published in June 2021’s edition of Taxation magazine  The tax due for a failed PET must be calculated at…

Rarely does a day go past without tax reform rearing its head in a daily financial news bulletin. In particular, continued talk of Capital Gains Tax (“CGT”) reform in the…

Most countries have a central government agency which registers (or “incorporates”) new companies. In the UK this is Companies House. A company which is incorporated in the UK will by…

Tax advisers around the country wondered whether this was indeed just the corralling together of items not required to be included in the Budget, or whether there was to be…