A social enterprise is a commercial business that helps people or communities. SITR is the tax relief that investors can claim in respect of investments they’ve made in social enterprises. It will be in place for investments made, or capital gains arising, in the period from 6 April […]
Monthly Archives: July 2014
Our cautionary tale starts with a Karen Rotberg who sold her shares in two dot-com companies for over £2 million. Consequently she had a capital gain of roughly the same amount. Prior to the sale of her shares she had met with her accountant to discuss reinvestment of those monies in the most […]
HM Revenue and Customs has lost its appeal over Rangers’ use of Employee Benefit Trusts (EBTs). HMRC argued that the payments made to players and other employees should be taxable as earnings and on that basis HMRC were due £46.2m in unpaid PAYE/NIC. However the Murray Group, which previously owned Rangers, […]
As you may know, HMRC launched a let property campaign (LPC), earlier this year, to encourage buy-to-let landlords to disclose undeclared rental income. We understand that HMRC has now started to send letters to some 30,000 individual property owners where HMRC hold evidence suggesting those property owners have undeclared rental income. In terms of the […]
As we told you recently HM Revenue & Customs (HMRC) have been writing to wealthier taxpayers to tell them their “effective rate of tax” for the year 2011/12 is lower than might have been expected and asking them to check that their tax return for that year is correct. Of course HMRC […]