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Neil’s 10 Top Tips Tip 5 :Enterprise Investment Scheme

Neil’s 10 Top Tips Tip 5 :Enterprise Investment Scheme

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...

Neil’s 10 Tips Tip 4 : Termination Payments

Neil’s 10 Tips Tip 4 : Termination Payments

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)...

Neil’s 10 Tips Tip 3: Degrouping Charge

Neil’s 10 Tips Tip 3: Degrouping Charge

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...

Neil’s 10 Tips Tip 2 : Personal Service Companies

Neil’s 10 Tips Tip 2 : Personal Service Companies

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...

Neil’s 10 Tips Tip 1:Rollover Relief

Neil’s 10 Tips Tip 1:Rollover Relief

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...

Neil’s Top Tax Tips (Principal Private Residence)

Neil’s Top Tax Tips (Principal Private Residence)

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...

Close Companies Simplified

Close Companies Simplified

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...

Wolf Determination

Wolf Determination

Today I got to see Novak Djokovic win Wimbledon for the 6th time. This means that Novak, Roger Federer and Rafa Nadal all have won 20 grand slams each. Clearly, they are jointly among the greatest tennis players of all time, and it is a privilege to watch them. In his...

Be Positive And Focused!

Be Positive And Focused!

Your thoughts are always looking for something to focus on. They jump from one thing to another -a past experience, memory, news, or a programme you watched. We are constantly bombarded with messages, and it is important to filter out what you want to focus on. If you...

Jack Swallow (Founder of leadthedisruption.co.uk)

Jack Swallow (Founder of leadthedisruption.co.uk)

Jack’s Personal Journey  The biggest challenge was always having the confidence. Having never been particularly bright at school, and being more interested in sports, and then working in a call centre, it took a long time to build up my confidence. Even just to...

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