TQOTW: BARE TRUST

TQOTW: BARE TRUST

I am looking at gifting my child a sum of money. What are the income tax consequences if I use a bare trust to do so? There is no definition of a bare trust in the income tax legislation. Put simply, a bare trust is one where the beneficiary has the absolute right to...
Tax Question Of The Week: TQOTW: SDLT RE HOME

Tax Question Of The Week: TQOTW: SDLT RE HOME

Q: My client and his wife own a house in Devon and a flat in London. My client stays at the London flat for three/four nights only in working weeks but they made a PPR election nominating the London flat when they purchased it. The Devon property is my client’s family...
Tax Question Of The Week: LOAN CHARGE REPORTING

Tax Question Of The Week: LOAN CHARGE REPORTING

Q: My client has arranged for their company to process the ‘loan charge’ in relation to all of their outstanding loans from an EFRBS scheme, as well as paid the company the tax and employee NIC (to avoid the benefit in kind). Does this mean everything is resolved now,...

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