Tax Case Studies

Pensions tax advice

Mrs B had worked out she needed to be putting more into her pension prior to 5 April 2018. However she was unsure as to how much and how to arrange matters to optimise the tax reliefs. At first glance, it looked like a personal contribution of £80,000 net could be made, providing tax savings of £43,000. A further £8,000 net could be made after 6 April 2018..

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Case Studies

VAT investigation

In 2014 HMRC started a VAT investigation into a partnership and concluded that it should have been registered for VAT between 2007 and 2013 and as a result, owed VAT of £61,000, plus a penalty of £4,500 plus interest. For a small business, this would have been a massive blow and could well have meant the business owners having to sell their house..

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Inheritance tax

Mr X, who was in his mid 60s and recently widowed, approached us for advice on Inheritance Tax (IHT). His total estate was around £1.25 million and as a result IHT was a potentially significant issue. His estate included his home valued at around £600,000, a second property worth around £400,000 and investments of around £250,000..

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Business sale and tax planning

Mr Y had recently sold his business and therefore did not have an immediate need for the significant salary he continued to receive from working for the new owners. His objective was therefore to minimise his tax liability on his 2016/17 income. It was decided that this would best be achieved by making the maximum possible personal pension contribution before 5 April 2017..

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Complex sale with employee share scheme

The company had a very unusual ownership structure in that the majority of the shares in the company were held by an employee benefit trust. In addition the company had an employee share scheme in place. The overall structure was designed to ensure that the company should always remain employee controlled. The receipt of a takeover offer..

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See our tax retainer service in action

We were approached by the majority shareholder of a successful business, built up over a number of years. Whilst they had built a successful business, at no point had they received any meaningful tax planning advice for them and their family.  The business was comprised of four companies, one of which had other shareholders. The majority shareholder had been unable to get the right level of advice from their existing accountant..

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