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February 2007

  • Rewards for Tax Inspectors who Meet Targets!

    Newsletter issue - February 07. It has been widely reported that HMRC are now offering tax inspectors incentives of up to £2000 to meet their targets. This comes at a time when HMRC are under pressure to collect more tax in line with Government targets. The top performing inspectors can now get a bonus of…More

  • Should You Buy the Assets or the Shares?

    Newsletter issue - February 07. When purchasing a business run through a Limited Company, a decision has to be made as to whether it is the assets and goodwill within the company that is being bought or whether it is better to purchase the shares of the company. In many situations it is the case…More

  • Tip to Avoid IHT on the Family Home

    Newsletter issue - February 07. There are single people, often widows and widowers with a valuable family home that want to pass it to their children but avoid IHT in the process. Whilst they still wish to live in the house, just giving it away to their children will not help their tax position. For…More

  • Tax Advantages of Investment Bonds

    Newsletter issue - February 07. Investment bonds are popular forms of investment with higher rate taxpayers who believe they will become basic rate taxpayers at a later time, often in retirement. These are the key tax advantages of investment bonds... All income generated from investments within the bond is taxed within the bond at rates…More

  • February Question and Answer Corner

    Newsletter issue - February 07. Q. Can I reclaim VAT on car parking charges without a VAT invoice? A. Yes you can if it is under £25 apart from on-street meter parking which is outside the scope of VAT. In addition, no VAT invoice is required to reclaim VAT on single transactions under £25 for…More

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