SearchIndex - tax-essentials.co.uk

A
B
C
D
E
F
G
H
I
J
L
M
N
O
P
Q
R
S
T
V
W

B

Bad debts

Corporation tax

Impairment losses and loan relationships

Intangible assets code

Whether deductible expenditure for corporation tax

VAT

General rules for VAT

Interaction with cash accounting

Records to be retained

Written off and retail schemes

Benefit in kind

General principles

Directors

Historical distinction between lower paid and relevant employees

What is a BIK

Non-taxable benefits

Main entry

Summary

PAYE and NIC

PAYE implications

Payrolling benefits

Tax code

Treatment for Class 1A NIC liability

Specific situations

After retirement

Land transaction which is treated as BIK (SDLT)

Participator in close company (CT)

Salary sacrifice

Taxable benefits

BIKs taxable on all employees - main entry

BIKs which historically were only taxable on relevant employees - main entry

Overview of taxable amount

Payrolling of benefits

Summary

Trivial benefits

Borrowing (Company law)

Pledge

Main entry

Buildings

Annual tax on enveloped dwellings

Main entry

Capital allowances

Alteration costs (including rebuilding) - eligible for WDA

Business premises renovation allowances

Distinction between buildings and plant and machinery

Flat conversions

General rules

Plant which is an integral feature of a building

Specific types of expenditure eligible for capital allowances

Structures and buildings allowance

Capital gains tax

Compensation for loss or destruction of asset

Gift to a charity

Negligible value claim

Qualifying asset for rollover relief

Income tax

Pre-owned assets

Inheritance tax

Agricultural property relief

Business property relief

Conditions to be accepted in satisfaction of IHT

National heritage property

Payment of IHT in instalments

Sale of post-death and fall in value relief

Specific valuation rules

Stamp taxes

Annual tax on enveloped dwellings

General principles of SDLT

Rates of SDLT

Reporting requirements for the purchaser

Trusts

Provision of maintenance funds for historic buildings

VAT

Capital goods scheme

Construction services

DIY housebuilders and builders using own labour

Exploitation and letting of property

Freehold and leasehold disposals of existing buildings

Freehold and leasehold disposals of new buildings

Land and buildings - general rules

Option to tax

Option to tax - land and property and a transfer of a going concern

Place of supply of services

Summary of VAT liability

Work done on existing buildings

Business asset disposal relief

Capital gains tax

Main entry

Set off of losses

Income tax

Furnished holiday lettings

Trusts

Disposals of trust business assets by trustees

Personal representatives

Business property relief

Inheritance tax

Application of the relief

Definition

Eligible property

Impact on fall in value relief

Interaction of APR and BPR

Main entry

Ownership requirements

Transfer apportioned to participators in close company

Trusts

Chargeable trusts

Termination of interest in possession on death

Business type (Company law)

Unincorporated

Main types of

Filter by:

4 results

Trusts, settlements and estates - Inheritance tax and trusts - Chargeable trusts - Reliefs - Business and agricultural property - 69340

Business property relief (BPR) (¶59050+) and agricultural property relief (APR) (¶59295+) reduce the value transferred. For chargeable trusts, there are two ways in which the amount of tax...

Commentaries / Tax Memo • 19.01.2021

Trusts, settlements and estates - Inheritance tax and trusts - Chargeable trusts - Reliefs - Business and agricultural property - Exit charge - 69355

An exit charge arising before the first 10-year charge is based on the initial value of the settled property on the creation of the trust. BPR and APR will not be available to reduce the initial value...

Commentaries / Tax Memo • 19.01.2021

Trusts, settlements and estates - Inheritance tax and trusts - Exempt (interest in possession) trusts - Reliefs and exemptions - On death - 69905

The usual IHT reliefs are available, including business property relief (¶59050+) and agricultural property relief (¶59295+), where the life tenant fulfilled the relevant conditions.

Commentaries / Tax Memo • 19.01.2021

Passing on the family company tax efficiently

Inheritance tax (IHT) business property relief (BPR) can prevent unwelcome consequences of passing your business on to the next generation. It can also be used to improve the overall IHT position...

News & Advice / Tips & Advice Tax • 19.02.2019