Self-Assessment fee and benefit in kindA client has requested that his Self-Assessment tax return preparation fees is paid by his company, of which he is a director. If the cost of this is less than £50 can it be exempt from BIK ? Is there a specific allowance for the fees to be classified as a business expense, as I cannot seem to find the relevant guidance / legislation.
CGT on QNUPS and QROPSFor IHT QNUPS and QROPS are exempt, Therefore when the beneficary (son of the QNUPS member) receives the value there is no tax to pay in the UK.. Does it need to be reported on his Self-Assessment?