Tax professionals newsletter

For anyone advising limited companies and their directors, the initials ERS (employment- related securities) tend to send a shiver of fear down the spine – or, if they don’t, perhaps they should do. 
Alan Pink looks at an often-overlooked problem with share awards in family companies.

Andrew Needham looks at the consequences of retaining a business VAT number when it is bought as a going concern.

Lee Sharpe looks at the loss reliefs available on the commencement of a new business. 

This article covers the key loss reliefs available to businesses on commencement:

•    General sideways loss relief against total income (not available only on commencement).
•    Opening years losses.
•    Losses on incorporation.
•    Transfer of trade under common beneficial ownership.

Sarah Bradford highlights some of the potential traps in applying the trivial benefits exemption and explains how to avoid them.

Mark McLaughlin reviews two recent important tax cases:

Tax planning can be hazardous and uncertain. For example, if a tax planning arrangement is considered to overstep the mark, there is a plethora of targeted anti-avoidance rules (TAARs) and less specific anti-avoidance legislation, which can render the planning ineffective for tax purposes. The TACS Partnership points out that mistakes about the tax consequences of certain actions can be rectified in some instances.

Malcolm Finney takes a look at a valuable inheritance tax planning option.