Tax and Financial Planning

• Eight Months’ Occupancy Not Residence, Rules Tribunal

  • Posted1 November 2013

  When a woman and her husband separated and were subsequently reconciled, a Capital Gains Tax (CGT) liability was probably the last thing they were thinking about. The woman owned...

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• AIM Shares and ISAs – A Reminder

  • Posted21 October 2013

  Clients holding shares in companies listed on the Alternative Investment Market (AIM) are reminded that, from 5 August 2013, it has been possible to hold such shares within an ISA,...

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• Tax Follows Source of Funds, Says Tribunal

  • Posted9 October 2013

  When a bank account is held in the names of several people, the interest earned on the account normally ‘belongs’ equally to all of them. Does that mean that the...

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• Commercial Property Fails IHT Test

  • Posted1 October 2013

  Hot upon the heels of a tax case in which it was ruled that a residential lettings business could constitute a ‘business’ for Inheritance Tax (IHT) purposes comes a ruling...

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• Setting Back Charity Tax Relief

  • Posted20 September 2013

  The opportunities for obtaining tax relief in a prior year are normally limited, but one such opportunity is often overlooked. HM Revenue and Customs do allow taxpayers to carry...

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• HMRC Daily Penalties for Late Tax Returns Quashed

  • Posted5 September 2013

  The First-tier Tribunal has quashed the penalty assessments made on two taxpayers who had failed to file their tax returns in time, because HM Revenue and Customs (HMRC) failed clearly...

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