by Neil Da Costa | Aug 18, 2021 | Uncategorized
Tax incentives such as the Enterprise Investment Scheme (EIS) are important when giving advice to wealthy clients prepared to invest in small unquoted companies. This features regularly in Advanced Tax and BPT. EIS companies should have assets of less than £15M before...
by Neil Da Costa | Aug 17, 2021 | Uncategorized
Termination payments paid to employees as compensation for loss of employment are a popular area in the 20-mark Advanced Tax questions.The most important point to remember is that the £30,000 exemption is only available if the payment is non-contractual (ex-gratia)...
by Neil Da Costa | Aug 16, 2021 | Uncategorized
A popular area in the Advanced Tax group questions is the degrouping charge. (DGC). When a building is transferred between companies in the same 75% CGT group, the transfer takes place at nil gain/nil loss. If the company that now owns the building leaves the CGT...
by Neil Da Costa | Aug 16, 2021 | Uncategorized
It is somewhat surprising that Personal Service Companies (PSC) have not featured recently in the Advanced Tax exam and this topic is certainly due to come up in September 2021. Individuals were setting up PSCs to invoice their employer to receive their income gross...
by Neil Da Costa | Aug 16, 2021 | Uncategorized
Rollover relief is a popular topic in the Advanced Tax exam and tends to feature mostly in questions on companies. The gain on the old building is given such as £50,000 and the sale proceeds as well £200,000. If £190,000 is invested in a replacement freehold building,...
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