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Where Taxpayers and Advisers Meet
Tax Articles Filter
IHT Exemption: No Waiting Required!
12/10/2020, by Mark McLaughlin CTA (Fellow) ATT TEP, Tax Articles - Inheritance Tax, IHT, Trusts & Estates, Capital Taxes

Mark McLaughlin highlights an inheritance tax exemption for gifts, which may be useful to individuals wishing to make gifts without waiting for the normal seven-year ... Continue Reading

Information Notices: ‘Fishing’ Allowed?
06/10/2020, by Mark McLaughlin CTA (Fellow) ATT TEP, Tax Articles - Tax Investigations & Enquiries

Mark McLaughlin highlights a case in which HM Revenue and Customs was not given its own way when requesting information to check a taxpayer’s tax position. Introduction Taxpayers, ... Continue Reading

Business Asset Disposal Relief: Nothing Personal
01/10/2020, by Mark McLaughlin CTA (Fellow) ATT TEP, Tax Articles - Capital Gains Tax, CGT

Mark McLaughlin highlights a case which underlines the importance of forward planning for tax purposes and ensuring that decisions are properly documented. Introduction A ... Continue Reading

Property Tax Deductions: Don’t Miss Out!
22/09/2020, by Mark McLaughlin CTA (Fellow) ATT TEP, Tax Articles - Property Taxation

Mark McLaughlin warns that transactions should be structured correctly to avoid the risk of adverse tax consequences. Introduction Capital gains tax (CGT) relief ... Continue Reading

Business Loan Write-Offs: Not All Bad News?
25/08/2020, by Mark McLaughlin CTA (Fellow) ATT TEP, Tax Articles - Business Tax

Mark McLaughlin looks at tax relief claims for taxpayer loans to businesses which are later written off as irrecoverable. Introduction It is fairly common for ... Continue Reading

Penalties: Don’t take too long!
11/08/2020, by Mark McLaughlin CTA (Fellow) ATT TEP, Tax Articles - HMRC Administration, Practice & Methods

Mark McLaughlin warns that penalties for tax return errors may be increased if they are not disclosed to HM Revenue and Customs within a certain timeframe. Introduction The ... Continue Reading

It’s the Quality NOT the Quantity!
11/08/2020, by Mark McLaughlin CTA (Fellow) ATT TEP, Tax Articles - Capital Gains Tax, CGT

Mark McLaughlin highlights an important factor in the availability of Capital Gains Tax Principal Private Residence Relief on the disposal of a dwelling. Introduction A ... Continue Reading

No Suspicion Needed!
07/08/2020, by Mark McLaughlin CTA (Fellow) ATT TEP, Tax Articles - Tax Investigations & Enquiries

Mark McLaughlin points out that HMRC’s power to request information or documents may be wider than some taxpayers appreciate. Introduction Where a taxpayer ... Continue Reading

Sale of Goodwill: Income or Capital?
29/07/2020, by Mark McLaughlin CTA (Fellow) ATT TEP, Tax Articles - Business Tax

Mark McLaughlin highlights a case on the tax treatment of goodwill for a professional consultant who sold his business. Introduction It is common in many occupations ... Continue Reading

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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.