I know there is no mention of the individual being married but if the land is transferred to a spouse before it becomes the main residence, then the spouse effectively takes the original base cost (nil gain/nil loss), but doesn't take the non-qualifying ownership period.
In scenario 1) therefore, as long as the conditions in CG64950 are not satisfied, the past 10 years of history can be wiped out.
I think S.116 FA2003 has the definition of Residential Property.
A recent case at (FTT PN Bewley Ltd v HMRC, 2019 UKFTT 0065 TC) noted that the test is whether the building is 'suitable' for use as a dwelling at the point at which the SDLT became payable.
The case was regarding a derelict property which was determined to be non-residential as not a suitable dwelling and the additional rate of SDLT did not apply.
Make sure you know the gross profit margin on the products and how this compares to staff costs, to determine what can be afforded.
Think about bonuses calculated based on GP to control freebies/sales incentives.
Depending on the working environment, team bonuses are a good idea.
It's the taxpayers responsibility to get this right.
The limit does not restrict the amount that they or their employer can pay into the pension. If the limit is breached, however, the taxpayer is subject to an income tax charge. It's self assessment.
I wouldn't go there without any paperwork in support. I wonder whether any rent has been declared for income tax purposes....
Forget about the PET. I suspect there is a GWROB so chances are the property was still in mother's estate when she passed away this year.
Your starting point for the base cost should be the market value at the date of acquisition, as a connected party transaction. Bear in mind that determining the market value could be tricky if, for example, your client's mother retained a right to occupy the property when it was gifted.
Make sure that the valuer also knows that the valuation will be relied upon for CGT purposes and they may be required to justify the figures in the event of an HMRC enquiry.
Unfortunately you have to rework the treatment of the losses as a result of making an averaging claim, otherwise it is quite possible that you would be claiming a loss against no income. If the averaging adjustment makes no difference to the benefit of loss relief, it does make your calculations that much easier, but you do need to check.
Do the averaging adjustments
calculate the best utilisation of the losses
Adjust the tax figure on the current year return and submit your workings with the return to show how you have calculated the tax adjustment.
It sounds as though you may have a conditional gift in the will whereby the shares are left to the family on the condition that they pay £x to Y within 3 years.
I agree with DJKL that this is a personal responsibility of the family shareholders and is not a liability of the company.
The executors should to be cautious to ensure that the condition is satisfied to ensure that the family are indeed entitled to the shares (possible subject of forfeiture if the condition is not satisfied).
My understanding of FA 1986 Section 102B was that it applied to gifts of an undivided share of an interest in land. The OP has not mentioned a gift of an undivided share.
Furthermore, Section 102B only applies to gifts made after March 1999.