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Two homes - maximising private residence relief
If a person owns a second home they can choose whether it or their normal home receives capital gains tax private residence relief (PRR). As strict conditions apply, what steps can maximise relief?
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The importance of sound expenses procedures
Naturally, employers want to keep costs down and having a robust system for checking employee expense claims should be part of that regime. What are the requirements to meet HMRC’s standards?
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Selling shares back to the issuing company
The executors of a shareholder’s estate are required to sell their shares to the company’s other shareholders. The trouble is they can’t afford to. The company can buy them instead but this increases the tax cost. Is there a way around this?
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Maximising the benefit of gift aid
Gift aid can provide a valuable tax break for higher or additional rate taxpayers. With coronavirus affecting many of them, what additional points should people be looking out for in the wake of the coronavirus
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Reminder for companies to include grants on returns
HMRC has published new guidance to companies about the taxation and reporting of coronavirus support payments. What steps should companies take to ensure that the tax return is correct?
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Avoiding legal issues when planning profit extraction
Directors often have misconceptions regarding their remuneration. This can sometimes have serious consequences. What does a recent High Court decision underline the importance of understanding when taking money out of a company?
