Newsletters
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Charging VAT before receiving a VAT number
A business has recently hit the VAT registration threshold and duly completed the necessary forms. However, they have still not received their VAT number. Now a customer is refusing to pay the VAT element of their invoice. What should be done here?
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Two homes - maximising private residence relief
If a person owns a second home they can choose whether it or their normal home receives capital gains tax private residence relief (PRR). As strict conditions apply, what steps can maximise relief?
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Selling shares back to the issuing company
The executors of a shareholder’s estate are required to sell their shares to the company’s other shareholders. The trouble is they can’t afford to. The company can buy them instead but this increases the tax cost. Is there a way around this?
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Maximising the benefit of gift aid
Gift aid can provide a valuable tax break for higher or additional rate taxpayers. With coronavirus affecting many of them, what additional points should people be looking out for in the wake of the coronavirus
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Avoiding legal issues when planning profit extraction
Directors often have misconceptions regarding their remuneration. This can sometimes have serious consequences. What does a recent High Court decision underline the importance of understanding when taking money out of a company?
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Making joint income tax efficient
In some situations married couples and civil partners can elect how they split their joint income for tax purposes. It’s a useful tax-planning tool, but the drawback is that once made an election can’t be revoked. Is there a way around this?