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Many individuals without much knowledge of inheritance tax (IHT) will nevertheless be aware of a ‘seven-year rule’ for escaping IHT on lifetime gifts. 

Mark McLaughlin looks at how and when inheritance tax taper relief can apply. 

In May, HM Revenue and Customs (HMRC) reminded parents of the savings they can make on childcare costs when a child starts primary school for the first time. 

Richard Curtis suggests that parents should check whether they and their children are eligible for tax-free childcare.

Businesses have been going through difficult times recently and some smaller businesses selling to the public, particularly services, find that they have fallen below the VAT deregistration threshold (currently £88,000 p.a.) and think that they would be better off deregistered. 

Andrew Needham looks at some possible traps a business can fall into when deregistering from VAT that can result in an unexpected bill from HMRC. 

Most readers will be aware that capital expenditure cannot be offset as an expense against income. 

Ken Moody goes back to basics in considering what is allowable expenditure for capital gains tax purposes and reminds readers that the issue is circumscribed by specific legislation.

A question often asked is: “Can I give all my assets to my children and avoid inheritance tax (IHT)?”. 

Tristan Noyes looks at some inheritance tax planning techniques with the family home and rental properties. 

At some time during the life of a business, that business may need funding, whether the monies come from the owner's personal resources or via a bank. 

Jennifer Adams considers whether tax relief is available for interest paid on all loans taken out to fund a business.

Trusts are formed when the legal ownership of an asset is separated from the beneficial ownership, i.e., a legal owner (the trustee) holds it ‘on trust’ for another person (the beneficiary) who benefits from it. The person who establishes the trust is the ‘settlor’. 

Chris Thorpe outlines some of the basics of trusts for law and tax purposes.

The employment-related securities legislation deals with arrangements involving shares and securities provided by reason of employment where the full value of the employment reward provided to the employee is not included in the salary package and is charged to tax.  

Jennifer Adams considers the tax implications of shares in a family company being awarded or gifted to family members of employees. 

A sole trader looking to expand their business might be weighing up the ‘pros’ and ‘cons’ of a partnership or a limited company. They are very different, with not only very different tax consequences, but functions as well. 

Chris Thorpe looks at partnerships and companies and considers which business model might be best.  

Under the loan relationships rules for companies, debits on loan arrangements are not deductible for corporation tax purposes in some circumstances.

Kevin Read highlights a recent case concerning the loan relationship rules for companies. 

When HM Revenue and Customs (HMRC) opens a tax return enquiry, the natural reaction of most taxpayers is to speculate about the reason why their tax return has been selected. In fact, HMRC does not need an excuse to open a tax return enquiry; a small proportion of tax returns are simply selected at random. . 

Mark McLaughlin looks at whether a taxpayer can find out if an HMRC enquiry has been opened as the result of an accusation made by a third party. 

When considering the tricky matter of remuneration planning, there are two things to consider; the amount of remuneration, and what form it takes. 

Chris Thorpe looks at what to watch out for with regard to paying employees and directors.

Despite the reduction in National Insurance contributions (NICs) in Spring Budget 2024, more employees are paying tax at higher rates on their earnings due to the freezing of tax thresholds. Some may find that any pay rise or bonus attracts additional tax and NICs such that the net pay increase is minimal.  

Jennifer Adams looks at some alternatives to rewarding an employee with a pay rise or a bonus. 

Mark McLaughlin looks at company purchases of own shares and warns not to become too focused on the more difficult rules for capital treatment. 

A company purchase of its own shares from a shareholder is a popular ‘exit’ strategy when an individual shareholder is retiring, or a dissenting shareholder is departing.