Capital Allowance – Plant and Machinery

Plant and machinery allowances may be given where a person carrying on a qualifying activity incurs qualifying expenditure. By Simon Denye, Partner, Dow Schofield Watts Tax Consulting LLP Qualifying activities are: A trade A property business (UK or overseas) A furnished holiday lettings business (UK or within the European Economic Area) A profession or vocation An employment or office … Continued

Summary of Corporate Tax Issues Following an MBO

By Simon Denye, Partner, Dow Schofield Watts Tax Consulting LLP Introduction to MBO’s and Corporate Tax Issues Several new companies may have been incorporated and /or acquired as a result of a management buy-out (MBO). It is important that the directors of the new group are aware of the tax matters which may need to be … Continued

The Main Types of Company Reorganisation

By Simon Denye, Partner, Dow Schofield Watts Tax Consulting LLP Demergers Groups may want to split out their activities for many different reasons. There may be conflicting interests between shareholders, legal reasons to separate a trade out from the rest of the group with corporate protection, or it may be the only way for a … Continued

Family planning – the tax sort!

Transferring Shares in Family Company to Spouse – Gift or Sale? By Simon Denye, Partner, Dow Schofield Watts Tax Consulting LLP Owning your company jointly with your spouse is standard planning where one of you pays tax at a higher rate than the other (or one of you pays no tax at all). The idea … Continued

A Recap on Directors Loan Accounts

As a director, the company may pay for personal expenses from time to time. You can clear the debt by repaying it or get the company to write it off. Does it matter how and when you do this? By Simon Denye, Partner, Dow Schofield Watts Tax Consulting LLP Over £10,000? Your company card has … Continued

Selling Your Main Residence and Capital Gains Tax

Selling Your Main Residence and Capital Gains Tax An update from DSW Tax Consultant Simon Denye If you make a financial gain from selling your home, it is NORMALLY exempt from capital gains tax (CGT) because of private residence relief (PRR). However, this is not necessarily the case if you have not lived at the … Continued

Dow Schofield Watts Launches Tax Consultancy Arm

Independent advisory firm Dow Schofield Watts has expanded its services with the launch of a new tax consultancy arm. DSW Tax Consulting will be led by Simon Denye who has over 21 years’ experience as a tax specialist with firms including PwC and KPMG and most recently as Tax Director at CLB Coopers. It will … Continued