Taxation of Cryptoassets
While Bitcoin continues to grab the headlines, the cryptocurrency sector now takes in literally thousands of different digital assets...
HMO Tax Conditionality test on the horizon?
The UK government recently announced plans to crackdown on tax avoidance, referred to as tax conditionality, in what is often described as the "hidden economy". In a straightforward yet highly effective move, various licence applications will now be considered with proof that the parties have completed a tax check with HMRC.
Draft Finance Bill 2022 clauses – income tax basis periods
On 20 July 2021, the UK government published several draft Finance Bill 2022 clauses, one of which covers income tax basis periods. In the future, income tax basis periods for…
HMRC property discovery powers
Individuals and companies that pay taxes in the UK could potentially find themselves under investigation by HMRC. If you do find yourself under investigation, there is no need to panic.…
Why is the Moyne Ramsay ruling so important?
Moyne Ramsay v HMRCThe tax case involving Moyne Ramsay v HMRC broke new grounds concerning property investment, landlord activities and S162 incorporation relief. In simple terms, Elizabeth Moyne Ramsay and…
Slumdog or Millionaire?
Tax-saving strategies for small businesses in a tough economic climateSlumdog Millionaire or Slumdog? Rolls Royce tastes with Ford Fiesta income?Forget about lavish lifestyles, 2009 will be a year of survival…
Tax efficient business sale
A client had a business that he proposed to sell for in excess of £3million. By utilising his non UK domiciled tax status, we set up a trust in the…
Structuring a property company to save tax
A client came to us who had a large property company. After exploring the way the company had been structured by the company’s previous firm of Chartered Accountants, we advised on…
Inheritance Tax Planning
Inheritance tax planning saves £124,000A client wanted us to do some inheritance tax planning on their estate. The client was a divorced man in his late sixties with one daughter and…
Reclassification of expenditure reduces corporation tax liability
A client came to us to handle the accounting and tax affairs of his property company. The company was making a loss, however the director expected it to make significant…