Tax and Financial Planning

• 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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• Tax Bill Brought About by Break-Up Quashed

  • Posted22 August 2013

  When affairs of the heart went awry, a man faced an unexpected tax bill. The man decided to buy a property in 2001 when he was engaged to be...

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• Getting Your Money Back May Mean Massive Tax Bill

  • Posted2 August 2013

  When a Dutch man invested $1,400,000 (half from the sale of his house in the Netherlands and half borrowed) in a bundle of life assurance policies, he did not anticipate...

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• Tax Saving Advice Compulsory, Rules Court

  • Posted22 July 2013

  A firm of accountants which failed to point out tax saving opportunities to a client when he sold his company was found to be negligent by the High Court recently. ...

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