- : Year 11, issue 10

 
Are clients at risk of HMRC disallowing input tax? Publication date: 17.02.2025
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One of your clients had a compliance review from HMRC where the officer disallowed many input tax claims because “the relevant conditions have not been met”. What are these conditions and how should you deal with the officer’s concerns?
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What happens to losses when the trade changes? Publication date: 17.02.2025
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Your client’s company has had fluctuating results in recent years, and they are considering changing the trading activity - either gradually over several years or quickly. There are brought forward losses, and a likely loss in the current year. What should you advise regarding these?
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The 10% problem with charitable legacies Publication date: 17.02.2025
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In 2024, the First-tier Tribunal (FTT) gave judgment in a case where an estate attempted to access the reduced inheritance tax (IHT) rate which applies when funds are donated to charity. What were the problematic points and what can you learn from it?
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Capital allowances on workspace at client’s home? Publication date: 17.02.2025
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Your client runs a childminding business as a sole trader, using a rented village hall. She is building an extension to her home which will be a dedicated space for the business. What allowances might be available for tax purposes?
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Were payments inside IR35? Publication date: 17.02.2025
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Were payments inside IR35?..Bryan Robson Ltd v HMRC. Bryan Robson (R) has been working for Manchester United Football Club (MUFC) as an ambassador since 2008. There were a number of different contracts, and these were initially entered into and performed by R personally. In 2019 the contracts were amended so they were in the name of R’s personal service...
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Finance Bill changes eased Publication date: 17.02.2025
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The 2024 Autumn Budget announced a number of changes to the conditions for employee ownership trusts (EOTs). Following representations from a professional body, some of these have been eased. What’s the full story?
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Connected company loans: dealing with write-offs Publication date: 17.02.2025
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One of your clients has made loans to two associated companies and is now looking to write the loans off. What is the corporation tax treatment of each loan write-off and could there be any tax implications for the shareholders personally?
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Did move abroad mean “reasonable excuse”? Publication date: 17.02.2025
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Did move abroad mean “reasonable excuse”?..Yaqoobi v HMRC. Mr Yaqoobi (Y) was previously a UK resident, but didn’t submit a tax return for 2020/21 because he believed he was not required to do so, and that his rental income was below his personal allowance. HMRC issued late filing penalties that eventually totalled £1,600. Y argued that he had...
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Shoring up estate against IHT charge Publication date: 17.02.2025
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Your clients are a married couple who have never been overly concerned about inheritance tax (IHT). However, the 2024 Autumn Budget announcements have prompted them to ask about any simple steps they can take to ensure their exposure to the charge is managed. What kind of ideas might you suggest?
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Is automatic incorporation relief the best option? Publication date: 17.02.2025
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One of your clients is looking to incorporate their business and is aware their gain will be covered by incorporation relief. The client is concerned that capital gains tax (CGT) rates might go up in the future. What might they do to lock in the current rates?
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