July 2024
Questions and Questions on the TPP, July 24
We support our Tax Partner Pro members through our email and callback service. Here’s a look at some of the most recent questions we answered on July 24. Q My client has the following income: UK state pension / UK self-employment / UK rental income All of this will continue – but he plans to […]
Complex self-assessment tax return
Case of the month – Complex self-assessment tax return Introduction Our client contacted ETC Tax for some fairly complex tax matters after being laid off throughout the year and making a significant sale of stock in his ex-employer. Issue Our client had to take into account various factors, such as:• Various gift aid payments;• A […]
What is a split
So, what is a split? Spin-off is a somewhat catch-all term for any situation in which a company or group of companies splits into two or more parts. This could be due to several reasons… Part may need to be sold and part kept Shareholders may have agreed to part ways It is simply necessary […]
Examination of tax charges on pensions
Introduction In preparing a tax return for our client, we found that in previous years he had not taken into account his pension contributions and the impact this might have on his tax liability. The problem The issue was that our client could have been required to pay the annual retirement allowance due to his […]
The two types of durable powers of attorney
In the UK and around the world, people are living longer. The latest statistics show that by 2030, one in six of us will live past 60, and 70 will now be classed as the new ’65’, or the start of old age. As more of us live to old age, the risk of becoming […]
Transfer Process Guide | Thomas & Thomas Lawyers
With over 4.5 billion people worldwide on social media, we are constantly bombarded with opinions, viewpoints and even fake news on various topics. While it is interesting to hear the perspectives of everyone around us, not everyone is able to provide accurate legal advice. Law firms play an indispensable role in the legal landscape by […]
Differences between exchange and completion
In short, an “exchange” is an exchange of contract whereby the buyer and seller are legally obligated to proceed with the sale of the property. Whereas “completion” takes place after the exchange of contracts. At this point, the buyer receives the keys to their new home and the seller transfers the remaining funds to them. […]
A Guide to Wills and Remarriage I Thomas & Thomas
Did you know that the ONS Government’s most recent figures on marriage and divorce show that the number of people remarrying in the UK has remained largely the same since 2019? In fact, the number of people who marry more than once remains quite high. More than 14% of marriages involved the remarriage of both […]
Case: Non-domiciled investment banker loses appeal against £675,000 tax bill over director loans
Non-domiciled investment banker loses appeal against £675,000 tax bill over director loans Mr The investment was intended to qualify for business investment relief, making it exempt from tax. Business Investment Relief (BIR) is a potentially valuable tax relief for UK taxpayers, particularly non-doms, who have used or are currently using the remittance basis. The BIR […]
What is approval? I Thomas & Thomas Lawyers
In the first three months of 2023, the Family Court saw 69,208 applications for the grant of probate, up 12% from the first quarter of 2022. The court notably managed to grant more than 50,000 approval grants during this period. Additionally, an unprecedented 89% of applications and 90% of grants were processed digitally, signifying the […]