There are a new set of tax reliefs available for investors into new start up businesses. The snappily named "Seed EIS" relief will give an immediate tax deduction of 50% of an investment into a brand new business. this is irrespective of what rate of tax that an individual would pay. So if someone … [Read more...]
Making the most of holiday lets
Despite the actions of certain Inspectors of Taxes, HMRC do not make the tax law of the UK. Rather, a very complex interaction between legislation, case law, concessions and interpretation makes up what can be loosely termed, the rules. In a startling, but much welcomed diversion from the … [Read more...]
All that glitters isn’t gold…
If you own investment property you should be aware that the deadline for claiming capital allowances on investment property is 31 March 2012. So now is the time to make sure you have maximised such claims. There is a very wide range of fixtures and fittings that can be included in these claims, … [Read more...]
Can you trust a Trust?
Co-incidentally, following my last blog, yet another Trust issue has arisen. When I first met the solicitor in Stockport who specialises in trust and estate planning about 3 months ago, although we’d had a very interesting discussion about how, despite recent tax changes, trusts still have a place … [Read more...]
Sharing the Relief
When is a director not a director? A: When she’s a shadow director. I was approached by an accountant some months ago in a bit of a panic. HMRC had refused a claim for Entrepreneur Relief for one of her clients, who had sold a hotel in Morecambe. The grounds for their decision was that she was … [Read more...]