Meeting room team

Blog

Protecting Assets within a Group

Companies with valuable property (or other) assets sat in their trading companies should consider reorganising their structure to try to ring-fence these valuable assets from trading risk. If there is already a group structure, then it should be relatively straightforward to transfer assets to achieve this commercial aim. There are some tax points to consider before doing so, not least VAT and...

Read more

ER Anti-Forestalling Rules

It was announced in the Budget on 11 March 2020 that the ER lifetime limit is reduced from £10m to £1m for sales on or after that date. The draft legislation published on Budget day unfortunately goes considerably further, as it also contains two measures described as “anti-forestalling” rules designed to capture ER planning implemented pre-Budget, but which in our view had the potential to...

Read more

Maximising Entrepreneurs’ Relief in the Post-Budget Era

The lifetime limit for capital gains that can be subject to entrepreneurs’ relief (to be re-named business asset disposal relief for tax year 2020/21 onwards) has been reduced from £10m to £1m. A successful ER claim reduces the rate of capital tax on the sale of an asset by 10%, so this curtailment is very significant. This Tax Bite provides some basic tips on maximising ER on share sales. As a...

Read more

April 2020 Property Tax Changes

This is a summary of the most important property tax changes that came into effect in April, together with a reminder of some other key recent changes. Clearly the Covid-19 crisis is severely impacting the property market, as it is almost all sectors and areas of the economy, and we will provide other bulletins which are focused on Covid-19 and related challenges and opportunities from a tax...

Read more

Covid-19 and Debt Restructuring

One of the inevitable consequences of the economic downturn resulting from the Covid-19 crisis is that many companies will need to take steps to restructure debts. This Tax Bite very briefly highlights some of the most important tax points to be aware of on common debt restructuring actions, and some consequences companies may not have thought of. • General rule – debt waivers are taxable – where...

Read more

Future Fund

The Government has announced further details of the Future Fund which opens today. It is disappointing news for companies and investors who were hoping that the matched investment could be through SEIS/EIS share subscriptions. It has been confirmed that the scheme will only apply to match convertible loans made by investors which of course means that SEIS/EIS share subscriptions will not qualify...

Read more

Investors' Relief

Much has been made of the changes announced to entrepreneurs’ relief (ER) in the Budget on 11 March 2020, which have resulted in the lifetime limit being reduced to £1m of gains, as well as wide-ranging anti-forestalling rules being introduced to counteract ER planning. In contrast, Investors’ Relief (IR) has been left untouched and is still subject to the same £10m lifetime limit as when it was...

Read more

Top 10 Tax Points for Companies During the Coronavirus Crisis

We are getting an increased number of enquiries about EMI options, sometimes linked with a salary sacrifice. Companies are hoping to agree low values with HMRC as a result of the economic uncertainty (we will update you once we have seen how HMRC are responding to these valuation submissions) and we have also seen companies wanting to reduce salaries in return for EMI options – this raises some...

Read more

About us

Parisi Tax is a specialist tax law firm. Our clients benefit from having on-demand access to a wealth of tax knowledge and deal expertise.

Services