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It is easy to be tempted by exotic investment schemes that promise spectacular returns. However, as a High Court case strikingly showed , they are often too good to be true and it is always wise to get an independent professional to check them out before...
Trusts can be an invaluable means of providing for vulnerable loved ones, but they need careful handling by a professional if they are not to have serious unforeseen consequences. In a case on point, the High Court came to the aid of a retired GP whose...
HMRC are scrapping cheques for the payment and repayment of Inheritance Tax (IHT) and temporarily accepting printed signatures on IHT returns, as a result of the coronavirus crisis. The introduction of new ways of processing IHT and returns is to reduce...
Fraudulent investment schemes are perennially tempting to the unwary and it really does make sense to take independent professional advice before parting with your money. In one case, the High Court found compelling evidence that hundreds of small investors...
HM Revenue and Customs (HMRC) are always on the lookout for unexplained cash earnings which have not been declared for tax. However, in one case, a former professional gambler was relieved of a six-figure Income Tax bill after convincing the First-tier...
If offered the opportunity to shelter their homes against future Inheritance Tax (IHT) liabilities whilst retaining the right to live in them rent free, most people would jump at the chance. However, as one case strikingly showed, that holy grail of tax...
DIY house builders are entitled to refunds of VAT they pay on materials used in their projects. However, as a decision of the First-tier Tribunal (FTT) showed , seeking such rebates is far from straightforward and a strict time limit applies. A man applied...
New rules surrounding the payment of Capital Gains Tax (CGT) on profits made on the sale of a residential property are now just weeks away. Taking effect on 6 April 2020, the changes will reduce the amount of time individuals have to pay their CGT bill and...
HM Revenue and Customs (HMRC) may appear a very big battalion indeed but, with the right legal advice, individuals can succeed in overturning their decisions. Exactly that happened in a case concerning a couple who lost over £6 million in a disastrous...
Can a purchaser of a property be said to 'own' it after contracts are exchanged but before the transaction is completed? The Court of Appeal's answer to that fundamental question delivered a substantial Capital Gains Tax (CGT) saving to an off-plan flat...
