Greg Vincent, partner at Morr & Co LLP considers the tax pros and cons of using employee ownership trusts (EOTs) as an exit strategy for LLPs and accountancy firms, despite rise in rate of capital gains tax
In this week’s Q&A, Danni Walker, tax adviser at Croner VIP Tax Team, explains invoicing rules and VAT liability when selling for a client as an agent and splitting sale price
Following some confusion about exemptions to Making Tax Digital for Income Tax, HMRC updates guidance to clarify situation for those claiming averaging relief in year one waiver
With nearly 50,000 Brits estimated to have upped sticks and returned to the UK due to the war in the Middle East, complex statutory residence test (SRT) rules, benefits in kind and critical day counts could trigger high tax bills
One week since Making Tax Digital for Income Tax became mandatory, HMRC confirms 250,000 signed up but mostly accountants and agents, not individual landlords and self employed
Highly contentious decision on eligibility for winter fuel payments means over two million pensioners with income over £35,000 will have to refund full £200 amount via tax system
Construction sector warned as renewed focus by HMRC leaves users of the VAT domestic reverse charge at risk of a tax enquiry, says Tony Cochrane, director at VITA
Company car tax bands increase across the board including electric vehicles going to 4%, up to maximum 37% for highest emitting vehicles, affecting over 700,000 employees
The start of the new enhanced HMRC whistleblower scheme alters the risk environment for tax advisers, particularly on legacy tax arrangements, warns Rachel Cook, Of Counsel at Peters & Peters
In this week’s Q&A, Rebecca Walters, adviser at Croner VIP Tax Team, explains holdover relief restrictions when gifting shares to offspring in a family owned business
Increase in tax on dividends, directors’ loan interest rate rise, business asset disposal relief hike, frozen thresholds, inheritance tax for farmers and family businesses, Making Tax Digital starts, CIS, and more