Personal Tax

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Tax | How to reduce capital gains tax bills legally

The rise in capital gains tax (CGT) rates at the Budget has left people wondering how to reduce their exposure and where to invest, warns Rowan Morrow-McDade, tax director at Alexander & Co

28 Nov 2024

Tax | Q&A: substantial shareholding exemption and tax liablity

In this week’s Q&A, Croner-I tax adviser Rickie Lowery ATT CTA considers whether shareholding is a chargeable gain for corporation tax purposes

26 Nov 2024

Tax | 17% hike in scams targeting taxpayers

With the self assessment season gathering pace, HMRC has warned taxpayers to be extra vigilant as 145,000 scam referrals for fake rebates and demands for tax were identified in the last year

26 Nov 2024

Tax | HMRC investigations lead to only 300 prosecutions

The number of tax prosecutions is up 19% on last year as HMRC investigators ramp up anti-tax fraud but the chances being prosecuted are less than 1%

26 Nov 2024

Tax | Anonymous taxpayer cannot hide identity

The Upper Tribunal has ruled that a taxpayer involved in a dispute with HMRC over unpaid taxes cannot remain anonymous forever as they have given no good reason as to why their identity should be kept secret

25 Nov 2024

Tax | HMRC extends tax agent code disclosure deadline

HMRC has extended the deadline for accountants to provide details of the codes used for self assessment, VAT and corporation tax across their firms

25 Nov 2024

Tax | Fuel duty tax revenue begins downward spiral

With a huge tax grabbing Budget, fuel duty was left alone but the government is already facing declining revenues from car and van drivers

21 Nov 2024

Tax | ‘We have your backs’, says Badenoch to 20,000 farmers

20,000 farmers took to the streets of London today to hear the voices of farmers, MPs and spokespeople outside of No 10

19 Nov 2024

Tax | Q&A: loan to participator tax issue in MBO

In this week’s Q&A, Croner-i tax adviser Ibrahim Nalla explains tricky tax implications of using director loans to part fund management buyout

19 Nov 2024

Tax | Slashed farming IHT relief causes farm revolt

The removal of favourable inheritance tax for farmers has created a nightmare for generational farmers. Farming tax experts Julie Butler and Libby James of Butler & Co examine the tax planning options

18 Nov 2024

Tax | Care home fees, tax and the family home

The high cost of care raises important questions about funding, inheritance tax planning and eligibility for continuing healthcare (CHC) funding, explain Lisa Morgan and Catrin Wigley, partners at law firm Hugh James

18 Nov 2024

Tax | Changes to director loan rules to stop tax avoidance

Anti-avoidance rules have been tightened up to ensure shareholders cannot extract funds untaxed from close companies with immediate effect

14 Nov 2024

Tax | Q&A: tax and lease payments for director’s car

In this week’s VIP Tax Team Q&A, how is tax on lease payments and fuel costs for a director’s vehicle treated under benefits in kind rules when paid through director’s loan account?

12 Nov 2024

Tax | Tax traps: gifting cash for a property purchase for children

Nadia Cowdrey, partner at DMH Stallard, explains how the hugely complex pre-owned asset tax (POAT) can catch out parents who gift cash to fund a property purchase for children and later live in the property

11 Nov 2024