Rachel Reeves is building up to tax increases. Capital Gains Tax (CGT) and higher rate relief on pension contributions are the likely targets. Craig Simpson, Tax Partner at Bates Weston sets the scene for tax increases and the actions to consider.
Craig Simpson, Tax Partner at Bates Weston, considers the implications of using deferred consideration to pay outgoing shareholders when an Employee Ownership Trust (EOT) is created.
The tax costs of overvaluation are significant should HMRC consider the transaction overvalued. Getting an independent valuation early in the EOT thought process is important.