Thursday, 23 May 2013

Observations from a tax seminar

I was at a tax seminar yesterday and I was talking to an older accountant at it. We were discussing the secure email arrangement that the revenue have where you can address technical issues and he was saying that it was great because you could depend then on what they emailed back to you. But I made the point that it was good but only to the extent that you agreed fully with what they said. If after due diligence researching their point of view I had a different interpretation of tax law or I had what I felt was a valid basis to dispute their opinion or decisions then  I could still use the appeals procedure etc to try and get the best outcome for a client. The look he gave me was nothing short of disgust.
Anyway it goes to show the difference between accountants willing to settle on behalf of their clients and those willing to go the extra mile to get the up most best for clients.
There was several interesting tax planning arrangements which in the main apply to high value individuals willing to go abroad for prolonged periods of time. Which is I feel a reflection of how tight the Finance acts are now.
 However one very interesting point came to light about appealing the asset values assigned to inherited assets received during in the height of the boom period in relation to Capital Acquisitions tax (gift and inheritance)
If anyone has a Inheritance or gift liability based on property or assets inherited or gifted during the boom when asset values were high then give me a ring and I have what I feel is a very strong approach that can be taken to get it reduced significantly. Your SEO optimized title page contents

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