Latest Blogs in Private Client Tax
Amanda Newman
10th August 2015 Husband and Wife Tax Planning

Start-ups: Make use of your spouse’s tax allowances. There are a lot of costs surrounding setting up your own business, so saving tax is a big concern for most clients. This can be done in a number of ways, through ensuring you are claiming all your business expenses. However there is also the consideration of…

Jeannette Hume
13th July 2015 Incentivising Staff

EMI Share Options: the tax advantages. Enterprise Management Incentives (EMI) are a tax advantaged share option scheme that can be used to provide an incentive to key staff. The key tax advantage of EMI options in most cases is that no income tax or national insurance will be payable on the exercise of the option. The…

Ian Piper
12th May 2015 New EIS

EIS Relief: HMRC publish new procedures. HM Revenue and Customs (HMRC) is introducing new processes to help manage applications for advance assurance and EIS compliance statements from companies for investments made on or after 6 April 2015 that fall outside certain limits. With immediate effect, HMRC will not process advance assurance applications in respect of…

Jodie Pheby
23rd March 2015 Transferrable Personal Allowance

As long as we both shall live: I promise to share my personal allowance with you.. From April 2015, Finance Act 2014 allows spouses and civil partners who cannot claim the married couples allowance (therefore those born on or after 6 April 1935) to transfer a fixed amount of their personal allowance to each other to…

Nick Edgley
4th July 2013 IHT Planning

Use Lifetime Trusts to Save Inheritance Tax. With the government confirming in the last Budget that the current inheritance tax nil rate band of £325,000 will be frozen until 2018, more and more people will find the taxman taking a sizeable slice of their estate on death. Making gifts during your lifetime is one solution…

Ian Piper
24th January 2012 Top 10 Tax Elections to Minimise Tax

Examples of the most helpful and generous tax elections and claims include: s222(5a) TCGA 1992 (Nomination of main residence) This capital gains tax election, often referred to as ‘flipping’, enables taxpayers, who own and reside in more than one home, to inform HMRC which of these homes is their principal private residence. For those who…

Ian Piper
27th May 2020 Tax Free Benefits in Kind

Certain payments made by businesses on behalf of employees are tax free and can be used in flexible remuneration situations: Employer pension scheme contributions (up to £40,000 per employee per annum, plus potential ‘catch-up’ from previous 3 years. This assumes your personal income is not above £200,000, you are not already drawing benefits from a…