Category: Uncategorized

A parent company with a 100% subsidiary is planning to purchase bare land from its wholly owned subsidiary with a view to eventually transferring the land as a distribution in specie to its shareholders; these consist of another company which has 60% of the shares of the parent, and an un-connected individual for whom we […]

A client of mine has recently had quite a few members of staff approach them to ask to move to homeworking permanently. Before the pandemic, they were all in the office, but after moving to homeworking during the lockdowns, they realised how much they prefer it. Some have never returned to the office, whilst others […]

The government has delayed the introduction of Making Tax Digital (MTD) for income tax for landlords and self-employed by two years until 2026 and raised the threshold   To read the full article – CLICK HERE

Overseas entities that own land or property in the UK are required to declare their beneficial owners by 31 January 2023.   To read the full article – CLICK HERE

My client wishes to pay a tax-free retirement bonus to one of their employees who is retiring after 25 years’ service, is this possible?   To read the full article – CLICK HERE

My client has submitted her VAT return late again and knows that a Default Surcharge would normally be applied to her account. However, she has read somewhere that HMRC has changed the penalty regime for late submission & payment; is this correct? If so, when will the changes take effect and what will this mean […]

Two of my clients, a married couple, have jointly held residential investment property. The husband is a higher rate taxpayer and the wife is a basic rate taxpayer and they would like to change the allocation of the property income. They do not want to change their 50/50 capital interest so have decided to form […]

I have a client who bought a van on HP for £50,000 + VAT. They recovered the £10,000 of VAT up front on the basis that it should be treated as a supply of goods. HMRC have queried the client’s VAT recovery because the agreement refers to ‘period of hire’ and has an ‘option to […]

I have a client who was previously self employed making personal pension contributions. Unfortunately, his business has proved unsuccessful, and he has now taken on an employed role. Income from his new employment will be £60,000 per annum. He has asked me about higher rate tax and pension contributions and how pension payments will be […]

My client is a VAT registered business and has been asked to install a ground source heat pump in a domestic property. The client is supplying materials (£2,000 excluding VAT) and labour (£2,000 excluding VAT. The client has been looking at HMRC’s VAT Notice 708/6 on Energy Saving Materials and is unsure if the reduced […]