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Where Taxpayers and Advisers Meet
Latest from the Forum Post Your Tax Query Latest from the Forum
Profit on cash gifts and IHT
on 27/10/2021 12:57, by crumms

Hello there, With apologies if this has already been answered. If i was in a lucky enough position to have parents who had an estate valued in the region of £2m and they liquidated some of their assets and gave me a large lump sum of cash (say in the region ... Continue Reading

Won't be able to pay Corporation Tax bill on time
on 26/10/2021 16:13, by LandB

Hi all, firstly thanks in advance for your time and help. My account just filed my accounts for 20/21 and I've got a corporation tax bill that I can't pay. My business took a big hit early this year, down to about 20% of the previous year's earnings, the other ... Continue Reading

NRB on 1979 death
on 26/10/2021 10:18, by Sidonie

My father died intestate in 1979. There was spousal exemption for my mother of £25,000 and I as remainderman received roughly £3000 from a total estate of roughly £33,00. There was no tax to pay at the time. My mother died this year. Can any NRB be claimed ... Continue Reading

Hire and payment of foreign worker
on 25/10/2021 19:39, by Marrrion

I have a question, a uk Limited company that uses tugs and barges, it has a Philippines crew member under contact from a Philippines Agency, But is the net pay is paid via the Limited Company. The Philippines crew member wants to send his money back home, how ... Continue Reading

Holiday home abroad - who’s name is it best to go in?
on 25/10/2021 07:46, by Sjp1

I’m currently buying a holiday home in Spain. It will not be let out. I have rental properties in the uK and pay taxes accordingly via Self Assessment. No other income. I have 3 children. Who’s name should I put the house into and would there be any tax ... Continue Reading

Please help! Form EIM 74103
on 25/10/2021 07:38, by Sjp1

My husband died 5 years ago and recently his former employer got in touch to say that my children were entitled to a dependents bereavement pension up until they finished full time eduction (they all are at university/school). They received backdated payments for ... Continue Reading

Capital Gains Due on Gift to Son
on 24/10/2021 23:06, by Geoff11

Hoping someone could provide a bit of clarity on a unique scenario. Father A buys a house in 1975, for 5k. Not his primary residence. The house is worth in 2018 200k. Through out that time he’s spent 30k max in all costs relating to repairs/purchasing the property ... Continue Reading

Tax on transfers between brothers.
on 24/10/2021 19:29, by ollie

Hello. Is a transfer of money (say £10,000) to a brother taxable? The money comes from a sale of property on which CGT has been paid. Tried to find the answer on the internet but can only find information about inter-generational transfers. Thanks in advance for ... Continue Reading

ICPA Chairman Tony Margaritelli discusses 3 topics centred around October, including: 1. HMRC Furlough Fraud & Fighting For Your Clients, 2. Think About Yourself, 3. Are You a HMRC Customer.