VQOTW: RENOVATION OF AN EMPTY DWELLING

VQOTW: RENOVATION OF AN EMPTY DWELLING

My client recently purchased an empty 3 bedroom bungalow that hasn’t been lived in for 4 years. He intends to spend £30k extending and refurbishing the property into a 4 bedroom house, which he and his family will move in to. He has the skill set to do some of the...
TQOTW: SDLT HIGHER RATES TRANSACTION

TQOTW: SDLT HIGHER RATES TRANSACTION

My clients, a married couple, own a property that is their main residence and are entering into a transaction to purchase two dwellings that are next to each other, one of which will be their new main residence. They have been advised they will have to pay the...
TQOTW: SHARE REDUCTION

TQOTW: SHARE REDUCTION

My client originally subscribed for 50,000 £1 shares when he set up his company. He now feels that the company is over capitalised and would like to return some of the share capital back to himself. He wonders whether the company could enter into a share buy-back or...
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...

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