Since our first article about the 2019 Loan Charge, we have received a number of enquiries and common issues have appeared. Here we address some of the points we have experienced with clients in relation to the 2019 Loan Charge.

Business property relief (BPR) is a relief from inheritance tax (IHT) at either 50% or 100% on trading business interests or assets owned by the person claiming the relief. This relief applies to business property either transferred during a person’s lifetime, or on their death, providing they have owned them for the preceding two years.

While Enterprise Management Incentive (“EMI”) options are often seen as easy to implement, the company’s and employee’s eligibility at the point of grant of the option is not the end of the story.

The new pre-pack regulations are designed to regulate connected person pre-pack sales with the aim of balancing the rights of creditors affected by business failure with the need to promote viable business rescue options to businesses, especially in the current economic climate.

As lockdown is once again gradually eased for what will hopefully be the last time, businesses must look to the future and important decisions will have to be made about the size and shape of the business going forward.

Kevin Hall explains VAT issues on the sale of a business and transfers of a going concern.

After the First Tier Tribunal found in favour of the beneficiary of a Remuneration Trust (Marlborough v HMRC) in September 2021, a differently constituted First Tier Tribunal, when considering an almost identical scheme used by Strategic Branding, has found in favour of HMRC, having determined not to adopt the reasoning applied in Marlborough.

The application window for the Lump Sum Exit Scheme finally opened on 12 April. The intention is to give farmers in England (the devolved nations are not part of this initiative) a financial incentive to leave the industry. Now that we have the detail of what the scheme entails, will it actually deliver what the government intended?

Dr Bill Kirkup's investigation into neonatal deaths at East Kent Hospitals University Trust revealed a catalogue of failings. Rather than detailing changes of policy, Dr Kirkup chose to highlight four areas he considers should be the focus for action: identifying poorly performing units; giving care with compassion and kindness; teamworking with a common purpose; and responding to challenge with honesty.

As a full-service law firm, we have undertaken work for private clients for nearly 180 years. We have a level of skill, knowledge and understanding that we are confident cannot be replicated elsewhere. The family law team at Wright Hassall has decades of experience providing expert help and advice.