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 / Director's loan accounts under FRS 102: tax implications

Taxing debt will now be largely driven by the FRS 102 requirements for financial instruments, says Peter Rayney FCA CTA, who unpicks the tax implications of the new accounting framework and the impact on director's loan accounts and various loan relationships (LR)

Tax / Analysis: company restructures using capital reduction rules

It pays to structure corporate demergers under the relaxed capital reduction rules to take advantage of tax reliefs, says expert Peter Rayney, who unpacks the intricacies of the current tax rules

Tax / Rangers’-style EBTs – where to next?

Armed with this judgment, HMRC can now issue accelerated payment notices (APNs) requiring those users who have not settled their prior employee benefit trust (EBT) related PAYE and NIC liabilities to pay up, warns Peter Rayney FCA CTA

Tax / Entrepreneurs’ relief (ER) abolished on business incorporations

It is fair to say that the removal of entrepreneurs’ relief (ER) on business incorporations was the ‘surprise’ rabbit out of the Chancellor, George Osborne’s hat in last month’s Autumn Statement, says Peter Rayney FCA, CTA

Tax / Selling your business: CGT and enterpreneurs' relief

Owner managers must carefully plan their company sales to obtain maximum benefit from the 10% CGT entrepreneurs’ relief rate, says Peter Rayney

Tax / Goodwill valuations – what to consider post Wildin tax case

After the ruling in the Wildin case, Peter Rayney says the value of goodwill must be commercially sustainable. Over the last decade or so, many tax advisers and accountants have had to dust down their goodwill valuation texts

Tax / Dealing with directors' loan accounts

HMRC has tightened its grip on section 455 loans to owner managers, says Peter Rayney. Section 455, Corporation Tax Act 2010 (CTA 2010) is a key anti-avoidance weapon for owner-managed companies. Without it, owner managers could easily avoid a tax charge by arranging for ‘their’ company to lend them funds (as opposed to paying a ‘taxable’ bonus or dividend).

Tax / Case report: how the Mehjoo decision affects tax advisers

Peter Rayney assesses the implications of the Court of Appeal’s refusal to back Mehjoo’s case. The case of Mehjoo v Harben Barker [2004] EWCA Civ 358 has very important implications for the scope of the duty of care owed to clients when giving advice

Tax / Business property relief and IHT

Do your business interests qualify for IHT business property relief, asks Peter Rayney

Tax / SDLT and tax reliefs

Property deals can involve substantial SDLT costs, so it pays to take into account tax reliefs, says Peter Rayney

Tax / Mind the GAAR

The GAAR lays down a marker for unacceptable tax avoidance which advisers need to work with, not against, says Peter Rayney

Tax / Restructuring debt

Businesses need to be aware of the tax implications when exchanging debt for equity, says Peter Rayney

Insight / Entrepreneurs’ relief tips

Peter Rayney considers the pitfalls of using the beneficial 10% tax rate on owner manager exits

/ IR35: The comeback kid

HMRC is likely to step up use of IR35 to clamp down on the abuse of personal service companies for tax avoidance, says Peter Rayney

/ SEIS: Helping small business

The new Seed Enterprise Investment Scheme gives valuable tax breaks for equity funding investment in business start-ups, says Peter Rayney