Capital Gains

A cafe owner wishes to sell his business, which is operated by his limited company. As director, he is still owed £18,000 from monies previously loaned to the company

A taxpayer has moved from his main residence to another property and wishes to let his father occupy the old house for the foreseeable future

Partnership taxation deserves a firm and clear statutory basis

Problems to avoid if you want to claim entrepreneurs’ relief

A client has become very wealthy over many years, but now has little income that is subject to tax. He wishes to make substantial gifts to charity, but is concerned that gift aid will not be of benefit

One-third of the garden of a client’s only or main residence is to be sold for £250,000 and another house will be built on the ground. The whole property was originally purchased for £200,000

A client made payments into a seed enterprise investment scheme and an enterprise investment scheme in 2012/13 and 2013/14. No certificates were received in time for submission of the 2012/13 tax return

Two shareholders own eight properties through an investment company. They wish to go their own way and would like to achieve this by forming two separate companies, each owning four properties

Phased completion can affect other shareholders’ relief

To mitigate income tax liability, a client transferred commercial property into the joint names of himself and his wife. However, only his share is eligible to capital gains tax entrepreneurs’ relief

G Weston (TC3152)

A UK taxpayer owns US Treasury bills issued at a discount and redeemed at their full value in less than a year. No interest is paid