Unincorporated Businesses - Tax Issues and Planning

This course considers a range of technical and practical tax matters affecting the self-employed whether operating as a sole trader or in partnership. 

Understanding core rules is essential to avoid pitfalls and maximise opportunities whether they are established or recent areas of tax law and practice. The session includes a review of the matters to be considered, when choosing and using this type of business structure.  

Recent tax cases of significance will be included as well as new legislative developments

Contents:

• Business structure
• National Insurance
• Basis period reform
• Change of Accounting Date (COAD) and loss relief
• Using losses effectively
• Capital allowances - current issues
• Self-employed travel and subsistence
• Self-employed homeworking costs
• Financing aspects
• CGT and the unincorporated business
• IHT and the unincorporated business