Investments

A woman wishes to buy a property in Florida. She and her husband are 50:50 shareholders of a limited company through which she carries on her trading business. The company is cash rich, so the client is considering a joint purchase of the property

Views sought on tax reform of defined contribution savings

Each Taxation writer provides a tetrad of analyses of the chancellor’s announcements

HMRC have published a note to clarify the interaction of the enterprise investment scheme (EIS) and co-productions in film and television and, in particular, the eligibility of co-productions to access the EIS.

Each party in a co-production controls a part of the project and raises the necessary finance, with the majority producer responsible for collating the parts into a finished film or programme.

All parties, who usually share income in the same ratio as their input, jointly own intellectual property.

A husband and wife own a property as tenants in common but plan to sell to a new limited company

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 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

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.

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

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