Valuing assets such as land and buildings is potentially tricky for various tax purposes, including inheritance tax (IHT) on making a chargeable lifetime transfer, or
The concept of capital gains tax (CGT) relief on the disposal of an individual’s home is straightforward enough. However, in practice errors by taxpayers (and
Transactions between a company and its owners are relatively common, particularly in owner-managed and family companies. Where an asset is being transferred to or from
The number of capital loss relief claims made in respect of irrecoverable loans to businesses and guarantee payments has seemingly increased significantly since the commencement
The number of capital loss relief claims made in respect of irrecoverable loans to businesses and guarantee payments has seemingly increased significantly since the commencement
Earlier this year, a readers’ forum query ‘Company residential property transfer to daughters’ (Taxation, 28 February 2019, page 22) questioned the tax implications of the
Earlier this year, a readers’ forum query ‘Company residential property transfer to daughters’ (Taxation, 28 February 2019, page 22) questioned the tax implications of the
Information notices have been an important and valuable weapon in HMRC’s armoury of compliance powers since the information and inspection provisions were introduced more than
A ‘trading company’ can sometimes be difficult to identify for capital gains tax ER purposes. To make matters worse, the statutory definition is relatively brief.
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