Tax and Financial Planning

• Relying On an Expert Not Enough

  • Posted12 May 2014

  When a couple entered into an artificial tax-saving scheme which subsequently failed, they placed the blame firmly at the door of the Isle of Man tax consultancy that had advised...

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• No Second Bite of the Cherry After Ombudsman’s Decision

  • Posted28 April 2014

  When a couple received negligent advice from a firm of financial advisers, they complained to the Financial Ombudsman Service (FOS). The ombudsman ruled in their favour and ordered that compensation...

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• Case Shows Need For Care in IHT Planning

  • Posted11 April 2014

  When a woman transferred the lease on her Knightsbridge flat into a trust for the benefit of her two sons, the intention was to provide a benefit to them which...

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• PPR – Degree of Permanence Paramount in Determining CGT Liability

  • Posted1 April 2014

  When determining whether or not a claim for principal private residence (PPR) relief for Capital Gains Tax (CGT) purposes can be made when a property is sold, the exact nature...

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• Private Residence ‘Deemed Residence Period’ Reduced

  • Posted12 March 2014

  The UK tax system has traditionally exempted any profit on the sale of a person’s principal private residence (PPR) from Capital Gains Tax (CGT). The exemption applies to make any...

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• Prove It or Lose It

  • Posted27 February 2014

  A recent tax case shows how important it is to be able to prove one’s claims when dealing with the tax authorities. It involved a couple who moved to...

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