Peter Rayney

Peter Rayney FCA, CTA (Fellow), TEP, owns Peter Rayney Tax Consulting Ltd, which provides independent tax consultancy services to owner managed businesses, accountants, lawyers, and tax advisers on a wide range of tax issues. The firm was set up in September 2009 and specialises in difficult tax issues and complex tax planning. He is also deputy president of the Chartered Institute of Taxation (CIOT)

Tax / Rayney on furlough - does it make sense for all businesses?

The Coronavirus Job Retention Scheme – based on the 80/20 approach as per the Pareto Principle – gives businesses an invaluable lifeline but they must follow the rules. Peter Rayney FCA CTA, our favourite tax expert and vice president of the Chartered Institute of Taxation (CIOT), examines the potential pitfalls of the emergency covid-19 furlough rules

Tax / Rayney: it’s back to 2008 for entrepreneurs’ relief

The Budget 2020 decision to decimate the lifetime gains limit of £10m for entrepreneurs’ relief was hardly unexpeccted, but it does raise immediate questions about tax planning. Peter Rayney FCA CTA (Fellow) TEP examines the tax implications for business owners

Tax / Entrepreneurs’ relief and share buybacks: multiple completions

Entrepreneurs’ relief (ER) should be fully available for properly structured multiple completion share buybacks, but until HMRC issues definitive guidance, advisers should look at alternatives, says Peter Rayney FCA, CTA (Fellow), TEP

Tax / IR35: what a performance

Difficulties with interpreting the IR35 rules have been highlighted by conflicting decisions at tax tribunals where apparently similar IR35 cases involving TV and radio personalities including Lorraine Kelly and Christa Ackroyd highlight the subjective nature of the employment tests. Peter Rayney FCA, CTA (Fellow), TEP considers the implications for private sector employers

Tax / Getting to grips with entrepreneurs’ relief makeover

Finance Bill 2018-19 heralds some important changes to the entrepreneurs’ relief legislation, including tighter rules to ensure that shareholders beneficially own at least 5% of the true economic rights in the company. Peter Rayney FCA CTA explains the potential tax pitfalls

Tax / Entrepreneurs’ relief and the equity dilution trap

Entrepreneurs’ relief (ER) can easily be lost due to the dilutive effect of a subsequent share issue – but help is at hand, explains Peter Rayney FCA, CTA (Fellow), TEP

Tax / Top ten tax pitfalls: entrepreneurs' relief

Entrepreneurs’ relief is one of the main tax breaks designed to encourage business and entrepreneurship but like many other tax reliefs, it is riddled with complexity. Peter Rayney FCA CTA (Fellow) takes us through his top 10 entrepreneurs’ relief pitfalls and traps

Tax / The Christa Ackroyd case and the IR35 lottery

Peter Rayney FCA CTA thinks BBC presenter Christa Ackroyd had rough justice in her recent IR35 case, Christa Ackroyd Media Limited v HMRC [2018] TC06334], over disputed income tax and NIC liabilities through her personal services company

Tax / Rangers loses EBT final: tax decision of the decade

In a groundbreaking decision, the Supreme Court ruling in the long-running Murray Group holdings case - the Rangers case - about the validity of the use of employment benefit trusts (EBT) to pay footballers has hit the wall as the judges rule that they are unacceptable. Peter Rayney FCA, CTA examines the decision and the consequences 

Tax / Dividend tax changes: how they affect trusts and beneficiaries

Peter Rayney FCA CTA TEP, examines the impact of dividend tax changes to trusts and their beneficiaries from bare trusts to interest in posession trusts, starting by highlighting some very important anti-avoidance rules, which effectively take precedence over all the other provisions, with worked examples of how to use trusts effectively 

Tax / Phoenix fright: tax risks for distributions and company liquidations

A move to counter tax-driven phoenix practices creates uncertainty for legitimate company liquidations. Peter Rayney FCA CTA considers the options to avoid HMRC’s so-called ‘unacceptable arrangements’

Tax / Capital gains tax (CGT) rates cut: what it means for business owners

The Budget 2016 brought good news for owner managers and shareholders in private trading companies, says Peter Rayney, who considers the new tax breaks as capital gains tax (CGT) was cut by 8% bringing the new rate down to 20%

Tax / Dividend taxation: how the new tax regime will affect owner managers

Peter Rayney FCA CTA explores how the new dividend regime coming into force in April will affect tax liability with tips and advice for owner managers in light of the introduction of a fixed £5,000 annual dividend allowance this year

Tax / Goodwill amortisation: change to tax reporting requirements

Changes to corporate tax relief add a significant layer of complexity to goodwill and intangibles following the announcement in the Summer Budget which outlawed a long-accepted tax accounting practice. Peter Rayney considers how to mitigate the tax bill in light of the new rules

Tax / Summer Budget 2015: what the dividend tax hike means for owner managers

Tax expert Peter Rayney casts his eye over the proposals to raise the dividend tax rate and the introduction of a new tax-free £5,000 allowance announced in the Summer Budget and asks whether it will simply force owner managers to change their behaviour