Good news for livery stables

Tax payers would have been happy to read the decision of the First-tier Tribunal (FTT) which held that business property relief (BPR) was available on the late Mrs Vigne’s livery business. BPR has the effect of exempting a business from the charge to inheritance tax....

HMRC v McQuillan – UKUT upholds appeal

HMRC v McQuillan – UKUT upholds appeal In 2016 the FTT (2016 UKFTT 305) decided that redeemable preference shares with ‘zero’ dividend rights were shares that offered a dividend at a fixed rate of 0% and were therefore not ordinary shares for the purpose of the...