Newsletters
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Does VAT apply to partnership buy-in?
An individual is buying into a partnership. The partner in charge of its finances says VAT must be added to the asking price but her accountant says it’s a transfer of a going concern and so not VATable. Who’s right?
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Saving IHT on the family home
A husband left the whole of his estate, mainly consisting of his share in a home, to his wife in his will. As a result there will be a big inheritance tax bill waiting when she dies. What steps can the wife and their children take to reduce it?
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Avoiding the OpRA trap with pay increases
In 2017 HMRC clamped down on the use of salary sacrifice (optional remuneration) arrangements which offer perks instead of salary as a way of reducing tax and NI. Is it still possible to obtain tax and NI savings using similar arrangements?
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Were cars provided to partners a taxable benefit?
An individual owns connected businesses that run through a partnership and a limited company. The partnership provides each partner with a car that they also use for company business. Will this result in a taxable benefit in kind?
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Is tax payable on compensation for damaged property?
Last year a trader’s premises suffered extensive structural damage. The insurer compensated him before the repairs were made. If he doesn’t use all the money will he have to pay tax on it?
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HMRC moves to modernise customer tax accounts
HMRC is developing a single customer account which will receive data from third parties as well as the taxpayer. What’s likely to change?