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 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 invested in a replacement freehold building,...