Construction Industry Scheme Retentions and recent case studies.
Lets takes a look at an uncommon win for the taxpayer in the construction industry scheme, and a potential lifeline for people caught out by it. The case of Beech Developments (et al.) v HMRC [2024] EWCA Civ 486 is most welcome for those businesses that catch a nasty...
Reporting residential property gains and tax payments
When and how to report a gain on the disposal of a house and pay the associated tax. Not all residential property is equal when it comes to the tax treatment of gains. Establishing the scene Where a property is marketed or otherwise gotten rid of (e.g., offered to a...
Giving the property portfolio – moving property to close family
The implications and in particular the catches to avoid when moving property to close family members. Trap 1 - Stamp duty land tax: Gifts and debts One of the major traps involving stamp duty land tax (SDLT) can be caused when gifting property that is mortgaged....
Spousal dividends: Tips and catches
Issues to be knowledgeable about when paying dividends to partners. When a couple runs a business together with a minimal company, proper tax planning would certainly dictate that both partners very own shares to obtain dividends.Incomes may or may not be paid as...
Ten prominent tax-free benefits
Emphasizes of tax exceptions which can be used to provide tax-free benefits-in-kind to employees. The income tax legislation has a variety of exemptions for benefits-in-kind. By making use of exemptions, it is possible to improve an employee’s commission package...Our Average Score
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