Articles in "Tax"

The Government has recently published draft legislation that will allow divorcing couples more time to arrange their tax affairs.

Where there is land and or property in a partnership, in very simple terms, it is ‘held in trust’ for the benefit of all the partners in the partnership. Although the value of that land may be credited to individual partners’ capital accounts, it has as a matter of law become partnership property and therefore is held to benefit all the partners.

With the increasing cost of childcare, it’s not uncommon for hard-pressed parents to turn to their family, especially grandparents, for help with looking after the children.

As an employer, there are various ways to remunerate your team. Increasing salary may be enough to retain some staff whilst others want a ‘slice of the action’. Company share schemes are an increasingly common way to incentivise employees, and there are various different ways to achieve this, depending on your requirements, and theirs.

The Enterprise Management Incentive (“EMI”) scheme is a tax-advantaged share option scheme.

The deadline for filing your annual ERS (Employment Related Securities) return is 6 July following the end of the tax year.

Whether they confuse, scare, or excite you, most people have heard about cryptocurrencies in recent years. Elon Musk has been tweeting about them, El Salvador has officially adopted Bitcoin as legal tender, and corporates are beginning to accept and hold various cryptocurrencies. As there is wider adoption, more businesses will end up acquiring these digital assets which raises the question on how to account for them.

Many of us could be caught out by Inheritance Tax (IHT). Contrary to popular belief, you do not need to be mega-rich to owe HMRC a chunk of money when you die. I think most of us would prefer as much as possible to go to our loved ones, rather than HMRC.