Tax planning for loving couples
Taking an interest in clients’ investment matters
The economic outlook is improving, says the Institute for Fiscal Studies, but problems lay ahead
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
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
Record filings
A record 10.74m tax returns were filed for 2012/13 by 31 January, the highest proportion (93.4%) of on-time submissions recorded. Around 8.48m were filed online, passing last year's figure by 0.55m. The busiest day for online returns was 31 January, when HMRC received 569,847. The busiest hour occurred between 4pm and 5pm on the same day: 45,706 returns were received at more than 12 a second, while 21,027 taxpayers filed their return between 11pm and midnight on deadline day.
R Brown (TC3118)
By John Feaster; £68.50; third edition; paperback; 246 pages; Claritax Books
The only activity of a limited liability partnership is as a property investment business. Tax losses are being carried forward with some reduction by subsequent profits. One of the partners now has personal property income, but the LLP losses cannot be set against it
John Mander Pension Scheme Trustees Ltd v CRC, Court of Appeal
The government is to allow savings kept in a child trust fund (CTF) to be transferred to a junior ISA from April 2015. The move follows an HM Treasury consultation that received 761 responses, the overwhelming majority of which expressed support for allowing transfers.
Harvey’s Jersey Cream Ltd (TC3045)
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