Investments

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

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

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

Share incentive plans (SIPs) and save-as-you-earn (SAYEs) schemes will see higher limits from 6 April.

The maximum value of free shares that can be awarded in a SIP will rise from £3,000 to £3,600 a tax year, while partnership shares will be capped at £1,800 (from £1,500), subject to the figure being no more than 10% of an employee’s annual salary.

The maximum monthly amount an employee will be able to contribute to SAYE savings arrangements will go up from £250 to £500.

Tax planning for loving couples

Taking an interest in clients’ investment matters

Under an unfunded unapproved retirement benefits scheme, an employee and their employer had agreed that a pension of £85,000 a year would be paid. Instead, a lump sum of £1.4m was paid to the employee

The previous accountant of a new client showed the income and expenditure relating to five let properties as being from self-employment. The presumption is it should be shown as income from property

The economic outlook is improving, says the Institute for Fiscal Studies, but problems lay ahead

The father of two grown-up children has purchased their first homes using buy-to-let mortgages. The children reimburse their father for the monthly mortgage payments each month

A UK-domiciled taxpayer worked in Australia for many years, but has returned to the UK. He has an Australian pension fund, which is not subject to tax in Australia but is in the UK