Bringing a solvent company to an end

The goal of every company owner is to develop and run a successful, solvent company. However, there may come a time when the owner wishes to retire, or otherwise move...

OTS’s second report on capital gains tax

The OTS published its second report on CGT, Simplifying practical, technical and administrative issues, on 20 May 2021. This report focuses more on technical and administrative issues.

Should Workers be Paid National Minimum Wage for Sleep-In Shifts?

In the United Kingdom, the minimum wage for workers is regulated by the National Minimum Wage Regulations 2015. Regulation 30 of the 2015 Regulations establishes that, ‘[t]ime work is work,...

Heating in Homes

Currently Scotland’s 2.5 million homes account for 15% of Scotland’s Greenhouse gas emissions. The vast majority of these homes use mains gas for heating and only 11% have a renewable...

The Royal Family and Inheritance Tax

The death of his late Royal Highness Prince Philip, Duke of Edinburgh, has prompted some discussion in media circles about the payment of inheritance tax on death, with special reference...

Loss on sale of shares relief and the impact of falling valuations of shares in the context of legal rights calculations

The effects of COVID-19 have caused markets to be volatile and this has affected the value of investment portfolios and shareholdings.

Lifetime gifting: fall in value relief

There may be circumstances whereby someone gifts an asset other than cash (eg a house or shares) during their lifetime and this asset falls in value between the date of...

Removal of an executor

The recent case of Campbell v Campbell [2021] CSOH 3 involved a petition for the removal of executors on the grounds that they had acted improperly in administering an estate....

Capital Taxes Update

The UK Government’s most recent Budget saw fewer changes to Capital Taxes than might have been expected but there are still some points to note for taxpayers in Scotland as...

Taxation of Cryptoassets held by individuals resident in the United Kingdom

On the 21st February 2021 the most renown cryptoasset ‘Bitcoin’ rose to an all time high of over £41,000 per coin. The highs are starting to become more frequent and...

Gifting the Family Home – Reservation of Benefit Pitfalls

It is important to be aware of the ‘gifts with reservation of benefit’ rules to avoid creating an unexpected inheritance tax liability which might otherwise be avoided.

The Charity Test; where Public Benefit and Commerce combine?

In Office of the Scottish Charity Regulator, Appellant [2021] CSIH, the Inner House of the Court of Session dismissed two appeals by the Office of the Scottish Charity Regulator (OSCR)....