Welcome from the editor, August 2017

The implications of breaking up will be much in the news for the next couple of years as Brexit starts to take shape. Most agree that it will be a challenging process just as it is when it comes to breakups; like divorce. The taxation of individuals during a divorce can be potentially complicated–especially when one or both of the parties are classified as non UK resident. Meg Saksida considers the tax aspects of cross border expatriate divorce. Meg explains that the time of the separation is crucial to the subsequent tax implications of the settlement in the divorce, as is the residence of the parties.

Keith Gordon discusses a recent divorce case which deals with practical issues relating to an individual’s domicile. The judgment in U v J might raise some eyebrows as it can be interpreted as supporting a slightly more fluid approach than has previously been adopted by the Courts.

Exam results

The centre pages list the CIOT and ATT results from the May 2017 exams. Congratulations to all that have made progress, especially, the 235 that have now successfully completed all of the CTA examinations (including 19 who were on the ACA CTA Joint Programme) and the 100 candidates that have now completed the ATT examination requirements for membership and a further 246 candidates that have completed the ATT examination requirements for membership by passing the two Computer Based Examinations since the last pass list was issued in January 2017.

The Tax Adviser team were particularly pleased to hear the further success of Natasha Warren at the May 2017 sitting. As part of our prize winner article series Natasha was asked to write on Trusts and Estates following winning the Spofforth medal for the highest mark in the CTA advisory paper on Inheritance Tax, Trusts and Estates in the November 2016 sitting. You can read her refresher course on the basic principles of estate tax. Congratulations go to Natasha on winning the Avery Jones Medal for the candidate with the highest mark in the Application and Interaction Paper in the May 2017 sitting.

Under the surface

In most company acquisitions, due diligence plays an integral role for the purchaser. However, it can also prove beneficial for a company preparing for sale to perform a tax ‘health check’ in advance, to help ensure that tax matters do not undermine an otherwise profitable transaction.

Helena Kanczula and Robert Harness provide an overview of the common issues encountered when undertaking tax due diligence on smaller companies. Areas of risk can lead to extensive indemnities, a renegotiation of the purchase consideration, or a wholesale restructuring of the transaction.

Mitch the Tax Man

Mitch Young demonstrates how to use social media to generate publicity for your tax work and get new clients. Mitch notes that social media has played a big part in the development of his client base, reputation within the industry and his overall career progression to date.