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Andrew Needham looks at VAT recovery on goods and services that have some personal use and when output VAT is due on that private use. VAT is generally not reclaimable on goods or services intended for personal use. If a business purchases items or services and uses them privately, it is considered a taxable self-

Mark McLaughlin highlights a relatively easy strategy to save inheritance tax over time. The acronym ‘KISS’ (‘keep it simple, stupid’) refers to a design principle originating from the US Navy in 1960. However, it can sometimes be an apt principle in an inheritance tax (IHT) context! Some taxpayers engage in sophisticated planning arrangements to reduce

Richard Curtis considers potential problems when dividends are paid to spouses and civil partners. Husbands and wives or those in civil partnerships (included in the term ‘spouses’ in the rest of this article) will often seek to minimise the family’s tax liability by the efficient use of personal allowances and tax bands. One strategy for

Chris Thorpe outlines why having an up-to-date will is highly advisable. It may seem that a will is not something that needs worrying about whilst one is alive and well. However, upon death it’s too late to say what will happen to your assets. A will is a document which states the wishes with respect

Jennifer Adams looks at tax implications when a company ceases trading or becomes dormant but still holds cash in its bank account. Ceasing to trade does not automatically end a company’s legal or tax obligations, and where funds remain in the company, extracting them in a tax-efficient manner is often a key consideration for directors

Tristan Noyes considers whether repaying a student loan (or repaying your children’s loan) is a good idea. Graduates leaving university in 2026 typically start their working life with around £50,000 in student loan debt. Repaying a student loan seems, on the face of it, like a good idea; you pay interest on the loan, so

Ken Moody finds no specific HMRC guidance on the procedure for claiming a capital loss when money lent to a trader becomes irrecoverable and suggests practical solutions. Relief for a capital loss on a loan to a trader may be claimed by the lender (under TCGA 1992 s 253), where the money has been used

Andrew Needham looks at how VAT recovery on an asset alters with a change in its use. Suppose that a business purchased an asset (e.g., a building) for a project expecting to use it in its taxable business, and recovers all the VAT on the purchase. However, circumstances change and it no longer needs to

Richard Curtis explores the ‘pros’ and ‘cons’ of workplace charitable donations. Generally, the UK tax system looks kindly on charitable giving, and encourages this through various tax reliefs. The most used is the gift aid scheme, whereby a donation to charity is made from taxed income, so that HMRC will then repay to the charity

Mark McLaughlin looks at a key requirement for capital gains treatment on a company purchase of own shares from a shareholder. A company purchase of own shares (CPOS) can be a useful ‘exit’ strategy for shareholders of owner-managed or family companies in the right circumstances. However, a valid CPOS must comply with company law requirements