Following High Court Case of Hasmi v Lorimer-Wing(2022), it seems that the model articles of Association are no longer valid for single director/ shareholder company
Over the last few days, we have seen a gradual dismantling of the mini-budget of Friday 23 September 2022, along with the economic policies that Prime Minister Liz Truss based her leadership campaign on. This emergency statement effectively replaces and re-writes the mini-budget.This emergency statement effectively replaces and re-writes the mini-budget.
On Friday 23rd Sept 2022, the Chancellor, Kwasi Kwarteng, presented a ‘mini budget’ which aims to help people cope with the rising cost of living while promoting a “rate of growth of 2.5%”.
Normally landlords are advised to refinance their properties as and when possible to extract as much cash out as possible and spend it on their personal leisure.
Since George Osbourne announced in his 2015 Budget of restrictions in mortgage interest relief, landlords have been racing to incorporate their property portfolios, which got the thumps up from the courts following the Ramsey Case (2013). The case itself provided the main guidance and test as to whether the landlord would qualify for Incorporation Relief. Several years forward, and whether the landlord would qualify for incorporation relief has become very subjective.
UURBS is an unapproved, unfunded retirement benefit scheme mainly used by company executives & directors, such a scheme if approved receives substantial tax benefits which includes corporation tax deferral, in a recent UKFTT case , AD Bly v HMRC (2021), the UKFTT went with the defendants which in this case were HMRC….