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Where Taxpayers and Advisers Meet
Tax Articles Filter
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

Selling Your Company? How Dare You!
17/07/2020, by Mark McLaughlin CTA (Fellow) ATT TEP, Tax Articles - Capital Gains Tax, CGT

Mark McLaughlin warns about HMRC’s response to tax ‘schemes’ that could affect company sales. Introduction A targeted anti-avoidance rule (TAAR) ... Continue Reading

Gifting shares – Don’t Make a ‘Reservation’!
30/06/2020, by Mark McLaughlin CTA (Fellow) ATT TEP, Tax Articles - Inheritance Tax, IHT, Trusts & Estates, Capital Taxes

 Mark McLaughlin highlights a potential Inheritance Tax trap when owner-managed company shares are gifted between family members. Introduction It is common ... Continue Reading

Disincorporation and Downsizing (Part 2)
24/06/2020, by Mark McLaughlin CTA (Fellow) ATT TEP, Tax Articles - Company Taxation

Mark McLaughlin, co-author of ‘Incorporating and Disincorporating a Business’ looks at some important considerations for company owners when disincorporating ... Continue Reading