In this episode I explain how to deal with the CGT Variations such as NG/NL, part disposals , leases, chattels and insurance compensation. 

In most tax exams , you will be asked to compute the death estate and the inheritance tax due. This podcast explains how to do this in simple steps. 

It is crucially important to work out an individual's domicile as UK domiciled individuals are subject to inheritance tax on their worldwide assets while non-UK domiciled individuals only pay IHT on their UK assets. With income tax and CGT, non UK domiciled individuals can make the remittance election. 

As tax advisors, it is important to advice clients which benefits can be offered to staff that are tax free as these will incentivize staff without attracting a tax liability. 

Many UK companies were buying companies that had large pre-acquisition trading and capital losses . To stop them utilizing the pre-acquisition losses HMRC introduced anti-avoidance rules. 

Partial exemption is an area many tax students struggle with. It simply relates to the sales mix of a business that sells both taxable and exempt sales . If the VAT relating to the exempt sales is small then it can be claimed back. 

BAD relief is the new entrepreneur's relief and is a very popular area in all tax exams. It is available on business assets owned for 2 years 

There are 3 inheritance tax exemptions which are available for both lifetime gifts and the death estate . In this podcast , Neil explains there different scenarios in which an inheritance tax liability arises. He then clearly explains how the 3 important tax free exemptions work and how to maximize the tax benefit 

The EIS provides lucrative tax benefits to wealthy investors or business angels who are prepared to invest in small unquoted trading companies . These investors can reduce both their income tax and capital gains tax liabilities substantially . In this podcast , Neil explains the conditions that should be satisfied as well as the amazing tax benefits available. 

When a business starts trading , an important area to consider is when the business should register for VAT. In this podcast Neil explains the difference between voluntary and compulsory VAT registration  and the various advantages and disadvantages . In addition, we also consider the implications of VAT deregistration.