Small business tax – HMRC’s consultation on simplifying business tax

The Government seems intent on simplifying tax for small businesses. The Office of Tax Simplification (OTS) published three documents in February 2012. One document dealt with HMRC administration,... Read more

Management charges – Claiming a deduction under general accounting principles

Management or service charges between related businesses are fairly common. Such charges are sometimes applied as part of a tax planning exercise, e.g. between associated companies where a trading... Read more

Loan interest relief – Loans to buy an interest in a close company

Securing tax relief for loan interest paid can be difficult. For example, the borrowings must be structured properly, and certain statutory conditions must be satisfied. Separate provisions apply for... Read more

HMRC enquiries - The importance of taking notes at meetings

An important aspect of HM Revenue and Customs (HMRC) enquiries into tax returns that is sometimes underestimated is meetings between taxpayers (and their agents) and HMRC officers, and the notes... Read more

NEW KickStart Masterclasses

Join us for our KickStart Masterclass - a free online product demo and live Q&A with our product and industry experts. Have you trialled our online tax service, but have questions? Read more

Settlor-interested trusts – Another ‘downside’ for settlors.

There are various,  potentially adverse, tax implications where an individual settles cash or other assets on trust but is capable of benefitting from the trust. Various anti-avoidance rules exist... Read more

Transactions in securities – The revised rules two years on.

The anti-avoidance provisions regarding Transactions in Securities (TiS) have been around in one form or another since the 1960s. Such is the significance of the provisions that even many non-tax... Read more

Directors’ loan accounts – Common pitfalls and traps

HMRC seems to regard directors' loan accounts (DLAs) as a ‘risk’ area, in which there is the potential for errors. Such is HMRC's concern that they have produced a 'Directors' Loan Account Toolkit',... Read more

Anne Fairpo discusses CFC reform and IP

CFC reform and IP Read more

Share loss relief – Satisfying the conditions for income tax relief

It is probably a sign of the present hard economic times that more taxpayers seem to be seeking tax relief for losses on investments in shares and business loans. This is reflected in the number of... Read more

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