A company owned by a father and daughter provides commercial loans and manages properties and collects rents. Activities include those carried out for family members and their businesses
A look at the National Audit Office report on the landscape of tax breaks
There is no evidence that the global corporate tax base is falling to pieces as the result of aggressive avoidance by multinationals, according to an academic study carried out on behalf of the Association of Chartered Certified Accountants (ACCA).
A company paid tax under CTA 2010, s 455 in respect of directors’ overdrawn loan accounts. The loans were repaid in full shortly before a liquidator was appointed in connection with a members’ voluntary liquidation
Download the Tolley Tax summary
Each Taxation writer provides a tetrad of analyses of the chancellor’s announcements
A will trust owns and operates the business of a school. The trustees wish to form a limited company, of which the trust will be the sole shareholder, to which the school assets and liabilities will be transferred. Questions of entitlement to incorporation and entrepreneurs’ relief are examined.
Holding shares in a trading company by way of a partnership is not a bar to business property relief
The director and 100% shareholder of a failing company decided to incentivise the two managers by issuing separate classes of shares to them, with dividends being paid from future profits. The share issue was delayed until after the company recovered
Reasons for HMRC’s tardiness in making construction industry scheme repayments
HMRC have changed their advice on the Construction Industry Training Board (CITB) levy, following a backlash from building firms.
The Revenue announced in January that it would no longer allow contractors to recoup the CITB charge from subcontractors in the form of a deduction made from the “gross amount of payment” on monthly returns.
A committee of the European parliament has approved an amendment to the Fourth Anti-Money Laundering Directive, which would make details about individuals behind trusts publicly available for the first time.
Under the plan, each member state of the European Union would be required to keep and make available a register of information on the ultimate beneficial owners of privately owned companies, foundations and trusts.