Reclaiming expenses

Despite the fact that, according to HM Revenue & Customs, “the general rule for employees’ expenses is very restrictive”, there is scope for obtaining tax relief of which some people may be unaware. The condition for company directors and employees obtaining relief is that expenses must be incurred wholly and exclusively for the purposes of […]

Pension transfer caution

There is an on-going decline in the number of final salary pension schemes. Many of the companies which have provided these schemes for their employees have found the open-ended liability insupportable, and have introduced schemes under which their contribution is defined by reference to the amount contributed rather than the pension which is to be […]

Reasons for setting up a trust

A trust is a legal arrangement which enables a person (‘the settlor’) to transfer the legal ownership of property, shares or cash to another person (‘the trustee’) to hold on behalf of a third person or persons (‘the beneficiary”). The main reason for setting up trusts is the protection of family interests. For example:   […]