Practice Points

Search results: 14 article(s)

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IN THIS ISSUE - RESIDENCE

Crucial tax advice for a client coming to live in the UK

You have taken on a new non-domiciled client that will coming to live and work in the UK later in 2020. As well as preparing their tax returns, they want you to give them some advice ahead of the move. What are the first key issues you should consider, and what should you advise them to do ahead of the move date? More...

PRIVATE RESIDENCE RELIEF

Maximising relief on clients’ property sales

A new client has come to you for advice about a property he has sold. He lived in it on and off during the ownership period, although there was a delay in initially completing the exchange. He had other properties that he has occupied as his home as well. You believe some private residence relief (PRR) will be due. How should you approach quantifying this? More...

IN THIS ISSUE - INCORPORATION

Advising a client on incorporation

You are taking on a self-employed trading client. Their business had been loss making for a number of years before turning a modest profit in the most recent tax year. They have just secured a long-term contract that will see profits increase considerably and are now looking to incorporate for tax purposes. What should they consider? More...

IN THIS ISSUE - PLANNING WITH CAPITAL REDUCTIONS

Tax planning with capital reductions

The Companies Act 2006 made reductions of share capital more accessible for private companies, requiring only a special resolution. What circumstances might make these especially attractive to your clients, and what procedures need to be followed to avoid problems? More...

IN THIS ISSUE - TAX PLANNING WITH TRUSTS

Tax planning with trusts in the modern era

A client wants to set up a discretionary trust for the benefit of their family. What tax planning opportunities can you suggest, and what is it essential not to overlook once things are up and running? More...

IN THIS ISSUE - THE EMI SHARE OPTION SCHEME

How to set up and administer an EMI scheme

Employee share schemes can seem like a daunting area to advise clients on. However, the enterprise management incentive (EMI) was purposely designed to be relatively straightforward compared with other schemes. When might the EMI be right for your clients, and what are the key points you need to understand? More...

IN THIS ISSUE - VAT REGISTRATION

Practical VAT registration tips and advice

With the VAT registration threshold frozen until at least 2022, it is likely that more of your clients will be edging toward it over the coming years. What can you help them with and is it possible to avoid registration at all? What do you need to look out for if they choose to deregister later on? More...

IN THIS ISSUE - TRADING LOSSES

Tax planning with trading losses

When your self-employed clients incur a loss, there may be several options available to relieve it, though there are restrictions in place which mean that the default option to carry forward the loss is wasteful. So what are the various options, when will each be most beneficial, and why might it sometimes be worth using income losses to offset capital gains? More...

IN THIS ISSUE - THE EIS

Making the most of the EIS

The enterprise investment scheme is a collection of generous tax reliefs aimed at encouraging private investment in fledgling companies. You may be aware of the basic framework of the rules and how to claim relief on the tax return, but what happens if one of your company clients wants advice on whether a prospective investor can claim the relief? What do you need to know to advise in 2018/19? More...

IN THIS ISSUE - PENSION PLANNING

Getting a pension to go much further

Pensions freedom means that your clients are no longer shepherded towards buying an annuity with their accumulated funds. You have several clients who are still working but approaching retirement age - how do you help them make the most of their money purchase pension savings? More...
Last updated: 28.05.2020

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