Hi I am considering investment into an offshore reporting fund that accumulates its income. I understand that, if you hold such a fund on the last day of its reporting period, you have to declare income as per the "excess reportable income" rules and calculations. ... Continue Reading
Please could you help resolve this IHT planning question, as we have been given two answers so far: continue with paying rent; stop paying rent. Myself and my brother have been given 50% of our widowed mother’s house (25% each) (in 2012) as part of our family’s ... Continue Reading
I recently applied for probate online as executor for my father's estate - my mother (his surviving spouse is the sole beneficiary) The value for probate purposes is 454k The Gross estate for IHT is 487k net qualifying estate for IHT is 0 (as his spouse, my mother, ... Continue Reading
I have a client wo informs me that Funding Circle, which makes loans to businesses, has supplied him with a list of irrecoverable debts, totalling £12k. Should these be notified as a Negligible Value Claim ( in theory he still owns the outstanding loans) or under ... Continue Reading
Hello I would like to know whether the £1,000 personal savings allowance can be used for foreign interest income. This is for a basic rate taxpayer. Thank you Continue Reading
Good evening Is a mechanism in place whereby a third party (Insurance company) can pay an individuals PAYE and NI directly to HMRC. Under the following circumstances. The insurer is paying out following an employment tribunal, the claimants award (Unfair dismissal) ... Continue Reading
I have been asked to complete a tax return for someone who was granted equity in March 2022 which vested in March 2025. He was UK resident throughout but was also resident in the Netherlands and Germany in 2022 - 6 months in each country. His employer has sent ... Continue Reading
Hello I am a partner in a limited partnership where the profits are released sporadically throughout the year. As you know, HMRC dictates that tax must be paid by individual partners on declared profits whether they have been received or not. At the end of January ... Continue Reading
