Double Tax Relief (DTR) — An Introduction
Double Tax Relief is an important mechanism that applies when tax is charged on the same income or capital gains in more than one country...
Domicile Status and Taxation
How an individual is taxed in the UK on their income and gains depends on their domicile and tax residence status. If an individual is UK...
Purchase of Own Shares by a Company
A limited company will typically purchase its own shares when one or more shareholders wish to retrieve their initial investment and any...
Capital Allowances – The Basics
Depreciation booked is not an allowable expense for tax purposes; instead capital allowances (that can be loosely described as ‘taxable...
Taxation of Residential Property Income
This article looks only at private individuals owning and renting out residential property, commonly referred to as ‘Buy-to-Let’ (BTL)...
Autumn Budget 2024
The chancellor unveiled her Autumn Budget on 30 October 2024. There were a number of noteworthy announcements. Some of the key items are...
Private Residence Relief (PRR)
When an individual sells their only or main residence, Private Residence Relief (“PRR”) can exempt all or part of the capital gain. The...
Probate Relief — Stamp Duty Land Tax (SDLT) Exemption
Exemption from Stamp Duty Land Tax is available if a property owned by a deceased estate (i.e. a ‘probate property’) is purchased by a...
Incorporation Relief — Transferring property into a Limited Company
Capital Gains Tax (“CGT”) Issues Transferring a business into a limited company is considered a disposal by the individual, with the...
Inheritance Tax — Update
Inheritance tax (IHT) is a complex area of tax that needs careful consideration both in life and at the point of death. IHT is...
