Picking The Best Corporate Structure for a Diversified Family or Owner Managed UK Company Expansion Many mature family companies have over the years developed a number of trades or ventures. Where the second or even third generations are actively involved in the management of a company it is not uncommon …
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What is ‘Ordinary Share Capital’? – Types of Ordinary Shares vs. Preference Shares, Premiums & Characteristics. As the poet, William Blake, once said, “hindsight is a wonderful thing, but foresight is better”. This particularly rings true when devising a corporate exit strategy and ensuring the applicability of Entrepreneurs’ Relief (ER) …
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Creative Industries Tax Reliefs; Video Games, Film, TV & Theatre, Museum & Galleries With 2019 set to be another big year for films, video games and television with highly anticipated new releases and box office records to be broken, the creative industries are pushing itself to new heights. Recognising the …
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Offshore Companies & Non-UK Resident Property Companies: Owning Commercial & Residential Property… The Forthcoming Changes April 2020. Non-UK resident companies with UK property income are subject to income tax rather than corporation tax under the non-resident landlord scheme. From April 2020, such companies will be charged to UK corporation tax …
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Transfer of Goodwill: Richard Villar v HMRC Background – transfer of goodwill This case involved an orthopaedic surgeon selling his trading practice ‘Richard Villar Practice’ but continuing to work for the purchaser. He made a claim for Entrepreneurs’ Relief. Virtually all of the proceeds were attributed to the reputation and goodwill …
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ALL IN THE GAME: FOOTBALL’S REPUTATION AND THE TAXMAN There is nothing wrong with a good (or even a ‘bad’) pun. However, that’s not why I would argue that football has become something of… well… a football for parliament and HMRC in recent decades. After falling short when challenging Arsenal …
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Latest Changes to UK Tier 1 Investor Visas from March 2019 – Tax Help & Advice On 7 March 2019 the Government announced that it is bringing forward a number of changes to the Immigration Rules, which further demonstrate a commitment to attracting leading talent, particularly due to Brexit, whilst …
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What is Investors Relief? FAQs, HMRC, Tax & Investors Relief… Investors relief was introduced in Finance Act 2016 and forms a number of reliefs intended to stimulate and support the economy, by reducing the risk and incentivising the flow of capital into Small-Medium Enterprises (“SMEs”). The relief compliments entrepreneurs’ relief …
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HMRC Put a Spotlight on Phoenixing HMRC have published their new spotlight (47) expressing their discontent with schemes that seek to bypass the targeted anti-avoidance legislation commonly referred to as the ‘phoenixing provisions’. Those who have participated in such schemes should be cautious of challenge by HMRC, particularly in light …
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