No, there was some uncertainty as to who should include this in their Tax Return (owner or nominee) logic being that if nominee pays the tax he should claim it back from the owner. What was not clear who in these circumstances is responsible for accounting for the tax to HMRC
There is an indemnity clause in the agreement whereby the beneficial owner has indemnified the nominee against all liabilities. Would HMRC accept the precise wording of the agreement?
Two suggestions:
1. VT Transaction - Go to vtsoftware.co.uk
2. Bookkeeping and accounts production - Go to vertisys.co.uk
They are both excellent for what you want.
Thanks Ruddles, in your example aren't you assuming that the old rules of CGT at 10% still apply? I understood that these have been abolished since December 2014.
My answers
No, there was some uncertainty as to who should include this in their Tax Return (owner or nominee) logic being that if nominee pays the tax he should claim it back from the owner. What was not clear who in these circumstances is responsible for accounting for the tax to HMRC
There is an indemnity clause in the agreement whereby the beneficial owner has indemnified the nominee against all liabilities. Would HMRC accept the precise wording of the agreement?
Two suggestions:
1. VT Transaction - Go to vtsoftware.co.uk
2. Bookkeeping and accounts production - Go to vertisys.co.uk
They are both excellent for what you want.
Many thanks for your responses
Thanks Ruddles, in your example aren't you assuming that the old rules of CGT at 10% still apply? I understood that these have been abolished since December 2014.
I got mine fairly quickly
Send a request again, in case he hasn't received the first one