In this week’s Tax Tuesday, we explore the features and benefits of “The Grandparents’ Settlement” which often proves to be an ideal solution when looking at setting up ‘some form of fund’ for grandchildren. Please note, when reading the foregoing,...
The tax gap is the difference between the amount of tax owed to the tax man and the amount collected in real terms. In 2018/19 the UK Exchequer collected circa £628bn of tax. By the estimates of HMRC, this involved a gap of missing tax of about £31bn (or 4.7%). This...
All shareholders and directors in privately-owned companies have an interest in how they extract value from their company. Most owner‐managers are broadly aware that there are alternative methods, with differing commercial and taxation consequences, but few owners...
Fast on the heels of this week’s Tax Tuesday about the deficit and the increase in taxation which is bound to flow to tackle it, we learn that Mr Sunak has asked the Office of Tax Simplification to conduct a review into whether Capital Gains Tax is fit for...
The immediate challenge facing the world (we don’t need to mention its name) has already had, and may well continue to have, a significantly negative impact upon asset values. We are all are too well aware of this. We hope and believe that this will be a temporary...
We are currently receiving so many enquiries from clients about the merits of providing electric vehicles as “company cars”, that Tax Tuesday feels bound to recap on the irresistible tax incentives involved. Here are the simple abbreviated tax facts. Taxation of...
