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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Chattel be taxable… Capital Gains Tax on the Sale of Personal Items The sale of personal possessions, whether that be at auction or done privately, can have tax implications which are often overlooked. It is important to be aware of the capital gains tax (CGT) consequences of such transactions, and …
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When it comes to R&D Tax Relief, software development is one area which has historically been challenging for both companies and advisers. Identifying whether a project qualified for relief could be difficult. Whilst it is easy sometimes to overlook “the other side of the fence”, these types of claims also …
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Social Investment Tax Relief: doing well and doing good Recognising the growing importance of “impact investment”, with investors seeking investments with social and environmental benefits as well as financial returns, Social Investment Tax Relief (SITR) offers valuable tax reliefs to investors to social enterprises. Social enterprises include charities, community interest …
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LAND REMEDIATION RELIEF – THE KNOTTY PROBLEM OF JAPANESE KNOTWEED AND OTHER LAND CONTAMINATES It might appear strange to consider Japanese knotweed in the context of a tax article, however, knotweed (which is particularly invasive and destructive) is perhaps the only plant specifically referred to in many thousands of pages …
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