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,...
by Neil Da Costa | Jul 26, 2021 | Uncategorized
The Principal Private Residence exemption is a popular area in the tax exams, and it makes the taxpayer’s main residence including half a hectare of land tax-free from capital gains tax as long as it is occupied by the taxpayer during the period of ownership. The...
by Neil Da Costa | Jul 23, 2021 | Uncategorized
The recent Advanced Tax exams indicate that the examining panel is focusing more on small family companies as opposed to large groups. The vast majority of UK companies are close companies and controlled by a few individuals or a single-family. It was amazingly easy...
Recent Comments