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Spouse’s transfer
A husband and wife live in a private residence that is owned by the husband. The property is vacated and let and the husband later transfers the property into the joint names of himself and his wife
1 Feb 2012
Periodic charges
A discretionary settlement was set up in 1999 and inheritance tax was paid on the transfer of property to it as the value was in excess of the nil-rate band. No further tax has been paid
1 Feb 2012
Trade or investment?
A company buys properties to rent them out, while another buys with the aim of developing and selling them, or possibly renting if an early sale is not possible
1 Feb 2012
Value or undervalue?
Advice is required on the valuation of shares in a new holding company formed for a management buyout
1 Feb 2012
New queries, issue 4339
Fowl play; Making a move; Trust trouble? The young ones
1 Feb 2012
Passing over
The owner of rental properties died in 2009/10. They were left to his brother and transferred to him in 2010/11. During the period of administration, a loss was recorded. Can it be carried forward and set against the brother’s profits?
25 Jan 2012
Over-taxed, over here
A UK resident and domiciled taxpayer works for a US company through a UK branch. Will contributions by the US parent into an offshore pension fund affect the UK relief limits
25 Jan 2012
Account owing
Advice is sought regarding directors’ overdrawn loan accounts and liabilities under CTA 2010, s 455
25 Jan 2012
Widow’s estate
A woman's husband died in 1973, before she became resident in the UK. She occupies a UK property with a son and daughter, while a second son lives elsewhere
25 Jan 2012
New queries, issue 4338
Out of time? Negligible value; Show home; Travelling hopefully
25 Jan 2012
Reining in costs
The taxpayers own reindeer which they use to operate a sleigh ride business during the winter months. The business income is mainly received in the winter, but can the full annual costs of keeping the animals be claimed?
18 Jan 2012
Christmas gifts
A business has given a crate of 12 bottles of wine to a valued client, in the hope that the client would give a bottle to each of his ten employees as a festive present
18 Jan 2012
