Tax and Financial Planning

In a cautionary tale for ‘buy-to-let’ property owners, an accountant who was hit with demands for back taxes and penalties in respect of rental profits has failed to convince the...

When you order something and pay using a credit card, you are protected against loss…or are you? Although many people think that the protection that applies is absolute, it...

When a woman and her husband separated and were subsequently reconciled, a Capital Gains Tax (CGT) liability was probably the last thing they were thinking about. The woman owned...

Clients holding shares in companies listed on the Alternative Investment Market (AIM) are reminded that, from 5 August 2013, it has been possible to hold such shares within an ISA,...

When a bank account is held in the names of several people, the interest earned on the account normally ‘belongs’ equally to all of them. Does that mean that the...

Hot upon the heels of a tax case in which it was ruled that a residential lettings business could constitute a ‘business’ for Inheritance Tax (IHT) purposes comes a ruling...

The opportunities for obtaining tax relief in a prior year are normally limited, but one such opportunity is often overlooked. HM Revenue and Customs do allow taxpayers to carry...

The First-tier Tribunal has quashed the penalty assessments made on two taxpayers who had failed to file their tax returns in time, because HM Revenue and Customs (HMRC) failed clearly...

When affairs of the heart went awry, a man faced an unexpected tax bill. The man decided to buy a property in 2001 when he was engaged to be...

When a Dutch man invested $1,400,000 (half from the sale of his house in the Netherlands and half borrowed) in a bundle of life assurance policies, he did not anticipate...