TQOTW: RENTAL INCOME ALLOCATION

TQOTW: RENTAL INCOME ALLOCATION

My Client owns 100% of an investment property and wishes to transfer a beneficial interest in the property to his wife. I have just read an article on the internet that states he can do this by passing on a 99% entitlement to the income from the property but only a 1%...
TQOTW: JOINT RENTAL INCOME

TQOTW: JOINT RENTAL INCOME

My husband and I jointly own a rental property, the income of which we declare 50:50 on our Tax Returns. I have been promoted and will be a higher rate taxpayer going forward. Is it possible for my husband to be taxed on a greater proportion of the rental income as he...
VQOTW: VAT MYTHS

VQOTW: VAT MYTHS

Client is adamant that their car dealer has advised them that VAT incurred on the purchase of an electric car is recoverable in full. ❌ Myth! An electric car is no different to a car which runs on any other fuel; input tax is blocked from recovery unless...
TQOTW: EMI & ER

TQOTW: EMI & ER

Over the last few years, my client has been granted a number Enterprise Management Incentive scheme (EMI) options. He has exercised these over the last few years at different times. In this tax year he disposed of all of his shares in the company, will he qualify for...

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