Practice Points
For a detailed look at everyday tax problems and real world advice on solving them

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    Business property relief: the family business

     

    A client's family business can often grow to reach a substantial value before their death. Many clients will assume that relief is available to exempt it from inheritance tax - but things are not that simple. How do you set about advising clients on ensuring...

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    Getting a pension to go much further

     

    Pensions freedom means that your clients are no longer shepherded towards buying an annuity with their accumulated funds. You have several clients who are still working but approaching retirement age - how do you help them make the most of their money...

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    How to set up and administer an EMI scheme

    29.04.2019

    Employee share schemes can seem daunting. However, the enterprise management incentive was purposely designed to be relatively straightforward compared with other schemes. When might the EMI be right for your clients, and what are the key points you need...

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    IHT and the family home: planning opportunities?

     

    For many people, the main concern in respect of inheritance tax is the family home - mainly due to several decades of above inflation growth in house prices. HMRC is particularly wary of planning involving the main home though. What opportunities are...

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    Practical VAT registration tips and advice

     

    With the VAT registration threshold frozen until at least 2022, it is likely that more of your clients will be edging toward it over the coming years. What can you help them with and is it possible to avoid registration at all? What do you need to look...

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    Tax efficiency and pensions: where are we now?

     

    The tax treatment of pension contributions has been the subject of constant tinkering by successive governments since 2004. Given the plethora of recent changes, what advice should you give your clients on tax-efficient pension saving?

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    Tax planning with capital reductions

    29.08.2019

    The Companies Act 2006 made reductions of share capital more accessible for private companies, requiring only a special resolution. What circumstances might make these especially attractive to your clients, and what procedures need to be followed to avoid...

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    Tax planning with trading losses

     

    When your self-employed clients incur a loss, there may be several options available to relieve it, though there are restrictions in place which mean that the default option to carry forward the loss is wasteful. So what are the various options, when...

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    Tax planning with trusts in the modern era

    03.06.2019

    A client wants to set up a discretionary trust for the benefit of their family. What tax planning opportunities can you suggest, and what is it essential not to overlook once things are up and running?

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    The EIS scheme

     

    The enterprise investment scheme is a collection of generous tax reliefs aimed at encouraging private investment in fledgiling companies. You may be aware of the basic framework of the rules and how to claim relief on the tax return, but what happens...

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    VAT schemes for SMEs: tips and traps to consider

     

    It's vital that your VAT-registered clients are aware of the benefits of certain VAT schemes that could either save tax or help business cash flow. How can the flat rate, cash accounting and annual accounting schemes be used to your clients' advantage,...

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