If you are provided with a car or a van by your employer, you will be liable to tax on the value of this benefit in kind, computed using somewhat complicated rules. There are exceptions to this rule, and one of them concerns cars or vans where private use is not allowed – and does […]
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I CAN’T STOP MYSELF – PROHIBITING PRIVATE USE OF CARS AND VANS
Loans to Participators – When is a Repayment “Taxable”
It is now becoming clear how HMRC are enforcing the new rules relating to repayment of loans to shareholders in close companies introduced in 2013 – and they are taking a hard line.
Bad News for Landlords
The Chancellor’s Budget on 8 July announced a radical change in the way landlords of residential property will get relief for interest in future. The new rules apply to individuals and partnerships, not to limited companies, and they do not apply to the letting of furnished holiday accommodation or commercial property. According to the Tax Impact Note published on Budget Day, this is “to make the tax system fairer”.
The Second Budget 2015
No Chancellor can resist including a few surprises in his Budget, and George Osborne did himself proud, with major changes to the taxation on landlords and of dividend payments from limited companies.
Our summary covers these and other important announcements.
Tax Rates 2015-16 Updated
This has been updated for the changes to the AIA announced in the Chancellor’s speech on 8 July 2015.
Waivers or Alphabets? Dividends from family companies.
Sometimes the shareholders of a family company want to pay dividends that are not in proportion to the size of their shareholdings. James Bailey looks at the two ways this can be done, and explains why one is clearly better than the other as regards possible HMRC challenges.
Tax Avoidance Paranoia
Over the last couple of years, there has been a massive shift in public attitudes towards tax avoidance. James Bailey wonders if things have now gone too far in the anti-avoidance direction.
A recent case before the First Tier Tax Tribunal (Day and Anor v Revenue & Customs  UKFTT 142 (TC)) holds some valuable lessons for landlords selling a Buy-to-Let property.
Summer 2015 Newsletter
Get Ready For Pension Auto Enrolment – Summer 2015
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