There are different situations when one person may wish to gift a property to another. This process has tax implications depending on the circumstances, and whether the property is a main residence or a second property, Tax partner, Kenny Adamson, takes a closer look. Capital gains tax The basic rule is that if a property...

An employee who is being made redundant has asked his employer to write off their outstanding training costs loan as part of their redundancy termination package. But what are the tax implications here?  Tax Expert Brona MacDougall explains. Where a loan to an employee is written off by the employer for any reason, HMRC treats...

Some firms are offering staff discounts to help keep the business ticking over and the cash flowing. If you decide to do the same, what are the tax implications? Money off Perks are often used as a way to keep staff happy when you are struggling to offer a pay rise. However, offering them a...

There is currently a huge shift towards buying property within companies and according to recent figures, up to 80% of new buy to let mortgage applications are now for limited companies. Until 2015, there was no compelling need for most people to make this choice and mortgages for companies were much less competitive. But then...

One of your employees has asked if he can give up some of his salary for extra holiday. You’re aware that there are special tax and NI rules for sacrificing pay for benefits. How do they apply in this situation? Brona MacDougall advises. Since April 2017 where you offer an employee the choice of less...