Welcome to our summer newsletter
Our article ‘A haven of success’ looks at Business Property Relief, a very important relief for Inheritance Tax purposes but its availability in certain circumstances can be regularly challenged by HMRC. In a recent case the judge ruled against HMRC so does that leave the door open for more to benefit? Read on to find out if you could benefit.
If you are considering closing down your company business, then make sure you read ‘A change for the worse’. The rules on capital extraction changed on 1 March 2012 and as the title suggests, it may not be good news!
Change is also on the way for Child Benefit and Capital Allowances on cars, both of which you will find summarised in our newsletter. It may not be good news for some but awareness of the changes should better equip you to make decisions to minimise the damage.
We have given more detailed consideration to the intention to limit the amount of relief individuals can claim. In addition to high earners this could also have an impact on charities. More details on this should be available as the summer progresses but planning for individuals likely to be affected will need to be considered during 2012/13.
With so many tax changes on the horizon careful tax planning becomes more of a necessity in making sure you only pay what is due. Please contact us if you would like us to review your tax position or have any questions regarding any of the articles we have included in our newsletter. Your views are always important to us and we would welcome any feedback you could give us.
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