My clients are a trading partnership. One of the partners has decided to leave the partnership and the remaining partner will continue the business as a sole trader.
What is the trading allowance and who could benefit?
What is the position on personal tax allowances for a non-UK citizen after leaving the UK?
My client runs a business that purchases old houses, renovates them up to modern standards and then sells them on. He uses a preferred architect for the design work and various building contractors to do the renovation work. Can he recover the VAT that the architect and various contractors charge to him as he is […]
Query about the possible buyback of shares in a private company
My client lets out their home for a fortnight when they go on their annual holiday. The temporary lodgers have access to the whole house and not just a selected room. HMRC guidance on the rent a room scheme states “you can let out as much of your home as you want” and so suggests […]
What does a non-UK resident that has UK rental income and savings income have to report?
My client has recently sold his family company, realising a significant gain and using all of his Capital Gains (CGT) Tax Entrepreneurs’ Relief lifetime allowance in the process. Although he has stepped back from active involvement, he is considering investing a significant amount of money in a trading company and has told me he would […]
My client does not want to wait until the property has been constructed and a completion certificate been received in order to claim the VAT using the DIY Refund Scheme.
Is there a required minimum period of residence in a property so that it may be regarded as the main residence for the purposes of private residence relief?
We have various clients who receive rental income from residential lettings. Can you please remind us of the change to the relief for “wear and tear” allowance.
My client has transferred a residential property into a discretionary trust. The value of the property is over the IHT nil rate band. Are there CGT implications?