Error costs £200k in tax

CGT: Miscalculation in share ownership costs former Park Resorts director GBP200,000 in tax The former commercial director of Park Resorts has lost his entitlement to entrepreneurs’ relief from capital gains tax (CGT), because the First-tier Tax Tribunal’s strict calculation of the company’s share capital left him with only 4.99 per cent of the total share…

Teacher Litigation

Teachers paid out over £16m in compensationTeachers have been paid compensation of more than £16m in the past year for successful claims, including unfair dismissal, personal injuries and criminal assault. NASUWT union general secretary Chris Keates said many of the injuries would be reduced if more employers “took the welfare of staff seriously” and followed…

Landlord quit

Landlords’ quit plans A survey from the Residential Landlords Association suggests that one in ten landlords plan to leave the market within the next five years due to George Osborne’s new tax rules and buy-to-let stamp duty rate on second or rental properties. Based on the average number of properties a landlord holds, this could…

Transgender reform

Law will simplify process to change gender Transgender men and women will be given the right to choose their leg al gender under proposals to streamline the gender reassignment process. The current procedure means those who want to change gender have to undergo psychiatric evaluations, as well as a hearing before a judge. But the…

SDLT & Trusts

PROPERTY TAXATION: SDLT surcharge will create problems for IIP trust beneficiaries HM Treasury has published details of how it will apply the new 3 per cent stamp duty land tax (SDLT) surcharge on second properties. The extra charge will not apply to purchases that replace the main residence, or where the individual purchaser only owns…

Motörhead will ?

Fight over Motörhead assets Lemmy’s death could trigger fortune fightExperts have warned that the family of Motorhead singer Lemmy could face a legal battle over his fortune, with a son adopted in early life and a potential son whose parentage is in doubt potentially able to make a claim on the estimated £6.75m estate. Experts…