November 2024
Deliberate loss of VAT
Introduction – The tax issue and its importance The tax issue concerns the deliberate claiming of input tax by means of false invoices, which were issued for supplies that were never made. This is important as it concerns the integrity of the VAT system, ensuring that businesses accurately report and pay their taxes. Deliberate fraud […]
Understanding Employee Share Trusts
Introduction to employee share trusts Employee share trusts have grown in popularity in recent years with a catchy title: “NO CGT IF YOU SELL YOUR BUSINESS TO AN EOT”. In this article, we’ll dig a little deeper into employee share trusts to see if the attention-grabbing headlines are a little too good to be true. […]
TPP Q&A, November 24
We supported our Tax Partner Pro members via email and callback service. Here’s a look at some of the most recent questions we answered in November 2024. Q Could I have some information on the completion of the 10th anniversary trust return, I have looked at HMRC and it is very contradictory. My client has […]
Non-Doms benefit from an easy exit
Upcoming changes to the UK tax regime for non-doms could inadvertently worsen the budget deficit. The government’s newly introduced transitional rules, which come into force in April 2025, could accelerate the departure of non-dominants, reducing potential tax revenues. A lucrative one-way ticket? The new rules, which came into force on April 6, 2025, will end […]
Relocation of a company
Case of the month Introduction Before 2013, it was quite common for an offshore company (Offco) to own residential property in the UK. Even if the rental income were taxable, the company would not be liable for capital gains tax (CGT) and non-domiciled shareholders would not be liable for IHT either. Even allowing for the […]