Areas of expertise
Land-based family businesses; disposals of land; inheritance tax (IHT); succession planning; taxation of bloodstock; trusts.
Penelope provides advice to a wide range of clients including to other professional firms. She advises in relation to family businesses and in particular vendors in land transactions.
She looks after bloodstock clients and uses her experience in the bloodstock and sports horse industry to advise proactively. She also works in conjunction with other professional advisers in relation to non-UK residents and domiciliaries investing in bloodstock in the UK.
- Restructuring a valuable family business to allow succession to the next generation.
- Structuring partnerships to take account of available reliefs for capital gains tax (CGT).
- Settling numerous disputes with HMRC including, but not limited to, business property relief on commercial woodlands, bloodstock businesses, limitation of relief for trading losses and overdrawn loan accounts.
- Chartered Accountant, Chartered Tax Adviser, Member of the Society of Trust and Estate Practitioners (STEP). Convener of the Institute of Chartered Accountants of Scotland’s (ICAS) Private Client Tax committee.
- Member of the Horseman Group Thoroughbred Breeders’ Association’s (TBA) Tax committee.