The Tax Hour

Jerroms Miller Specialist Tax

Join our host Nick Wright, Director at Jerroms Miller, for a deep dive into the world of taxation, 'The Tax Hour,' explores the complexities of tax legislation, shares expert advice, and delves into the latest updates in tax alongside some of the most prominent individuals in the tax industry. In addition, this offers an open forum for collaborative live discussions with other leaders in tax, whether you're a seasoned professional or a curious taxpayer, our engaging discussions and insightful advice will empower you to develop your knowledge. Get ready to decode the language of taxes and transform your understanding of this essential aspect of the business landscape as we push through the jargon and deliver easy-to-understand analysis.

  1. Oct 21

    The Tax Hour | What issues can business owners face after moving to an Employee Ownership Trust?

    What really happens when a business moves to an EOT? Join Nick and Ryan for the latest episode as they explore the practical issues business owners can face once they have made the move. 00:00 Introduction to The Tax Hour and Employee Ownership Trusts 01:12 What is an EOT and why do businesses use one? 02:34 EOTs as a business model vs a tax-saving scheme 03:27 How EOTs are structured and how employees benefit 04:51 The financial benefits for employees 06:14 Selling an EOT-owned business: are employees better off? 07:26 How the 2025 changes affect the tax position 09:03 Disqualifying events and the four-year clawback period 11:46 What happens when an EOT-owned business is sold? 14:36 Are EOT employee benefits enough to retain key staff? 15:27 Alternative incentives for senior management 16:19 Life after deferred consideration is repaid 17:45 Trustee independence and governance requirements 19:40 Key EOT qualifying conditions and employee participation 21:10 Employee turnover and the risk of breaching EOT conditions 22:17 The four-year rule: benefits and risks for vendors 23:58 UK trustee residence requirements 25:32 Market value requirements and business valuations 27:07 The EOT sale process and HMRC clearances 28:29 Do EOT transactions need more than one valuation? 29:37 Funding EOT purchases and distributions relief 32:00 Using EMI share options alongside an EOT 33:26 Can minority shareholders sell their shares to an EOT? 35:01 The tax challenges of buying additional shares 36:32 How can an EOT fund a further share purchase? 38:24 Company law restrictions and funding difficulties 39:44 Using an employee benefit trust as an alternative 40:24 Could an EOT structure work like a management buyout? 42:13 Business restructures, property and ring-fencing risk 44:39 Planning exit routes for minority shareholders 45:51 Is an EOT still a good succession option after 2025? 46:38 Paying CGT when consideration is deferred 47:34 What happens when vendors write off deferred consideration? 48:15 How the 2024 and 2025 reforms have changed EOTs 49:04 The history of EOTs as a tax-free exit route 51:03 The 12% CGT rate and the risk of disqualifying events 53:22 The challenges of unwinding an existing EOT 54:09 Why selling out of an EOT can be difficult 55:15 EOTs and private equity investment 56:21 Corporation tax deductions for employee share schemes 57:42 Corporate trustees and EMI tax relief 58:47 How HMRC views EMI valuations in EOT businesses 1:00:12 The tax implications when an EOT-owned business is sold 1:01:39 HMRC enquiries, readily convertible assets and employee tax 1:04:20 The impact of corporate trustees on employee share schemes 1:05:21 Alternatives to EMI: growth shares and other incentives 1:06:18 Planning for emerging EOT tax issues 1:07:01 Key takeaways: making EOTs work for the right business 1:08:02 Quickfire round: improving EOTs and spotting red flags

  2. Jun 16

    Selling Your Business: What Your Advisor Wishes You Knew Earlier

    In this episode of The Tax Hour, our host Nick Wright is joined by Holly Threlfall, Partner and Head of corporate and commercial of Wilson Browne Solicitors. Together they explore the legal and commercial realities of selling a business, and why early preparation is critical to protecting value and avoiding costly surprises during a transaction. 00:00 Introduction 00:00:40 Why You Should Start Planning a Business Sale Years in Advance 00:02:30 Who Should Be on Your Deal Team? 00:12:35 How to Prepare Your Business Before Going to Market 00:15:10 Warranties, Disclosures & Avoiding Expensive Mistakes 00:18:35 Tax Planning That Could Save Hundreds of Thousands 00:20:40 Getting Your Business Structure Right 00:21:45 What Buyers Look for During Legal Due Diligence 00:24:55 Warranties, Indemnities & Purchase Price Reductions 00:38:15 Deal Fatigue: Why So Many Sales Become Stressful 00:40:35 Earn-Outs, Completion Accounts & Negotiating the Final Deal 00:51:15 Finding a Buyer & The Typical Business Sale Process 00:52:20 Managing Expectations From Heads of Terms to Completion 00:53:10 What Happens After the Deal Completes? 01:04:17 Final Takeaways

  3. Mar 16

    Tax Simplification: A Realistic Goal? Bill Dodwell Joins The Tax Hour Podcast

    In our latest episode of The Tax Hour, Nick is joined by Bill Dodwell, former Head of Tax Policy at Deloitte and former Tax Director of the Office of Tax Simplification (OTS). Together, they explore what tax simplification really means and whether it is genuinely achievable within a modern, globalised economy. Key themes include: -What simplification actually is -Why the system is complex -The role of the OTS -Three routes to simplification -The importance of tax education -Whether National Insurance and Income Tax could ever be merged

  4. Feb 18

    The Tax Hour Podcast | Unpacking the Review: Ray McCann on the 2025 Loan Charge

    In this episode of The Tax Hour, our host Nick Wright welcomes Ray McCann, Consultant, former President of CIOT and former Assistant Director of HMRC, to discuss the recent Independent Loan Charge Review 2025. 00:00 Introduction 00:35 What Is the Loan Charge? 09:25 How Loan Schemes Worked 13:49 Why the Government Introduced It 19:26 Where the Loan Charge Went Wrong 23:08 The Human Cost & Financial Impact 28:39 Promoters, HMRC & Responsibility 36:03 Ray’s Recommendations 53:54 Final Verdict: Was This the Best Possible Outcome?

  5. 11/07/2025

    The Tax Hour Podcast | The UK Wealth Tax Debate with Emma Chamberlain

    Join Nick Wright and Emma Chamberlain for an expert discussion on wealth taxes in the UK. Emma, a barrister and visiting professor at Oxford and the LSE, was a commissioner for the 2020 Wealth Tax Commission. This episode explores why the Commission ultimately recommended against annual wealth taxes, the challenges of implementing a one-off wealth tax, and how the UK's approach to taxing capital compares internationally. They discuss the need for comprehensive reform of capital taxes (CGT, IHT, council tax) rather than piecemeal changes, and why political consensus is essential for sustainable tax policy. Key insights include: Key topics include: -Intro -Origins of the Wealth Tax Commission -Historical Attempts and Lessons Learned Exploring Denis Healey’s 1970s wealth tax plans and why early efforts failed. -The Covid Context and Public Perception -Defining a Wealth Tax -Annual vs One-Off Wealth Taxes -Broader Tax Reform & Capital Taxes Discussion -The Need for Systemic Reform Challenges -Fairness and Tax Equity -Public Perception, Avoidance & Final Reflections Essential listening for understanding current debates about wealth taxation and capital tax reform in the UK. 🔗 Resources mentioned: Wealth Tax Commission website: https://www.ukwealth.tax/ Upcoming LSE event with Emma Chamberlain: 1st December: https://www.pumptax.com/events/emma-chamberlain-speaking-at-lse-on-the-wealth-tax-commission-5-years-on/

  6. 10/28/2025

    SME Growth, Resilience & Tax Strategy - Sumer’s CEO, Warren Mead, Joins The Tax Hour

    How can SMEs stay ahead? Warren Mead, CEO of Sumer, shares insights and strategic foresight on 'The Tax Hour'. Join Nick Wright, Head of Corporate Tax, and Warren Mead, CEO of Sumer, for an insightful conversation on: • How SMEs can accelerate growth and build resilience in today’s economic climate • Why having the right tax strategy and advice is critical for long-term success If you have any questions or need further information, please get in touch. At Jerroms Miller Specialist Tax we offer a wide range of specialist tax advice for all business tax scenarios.

  7. 09/30/2025

    The Tax Hour Podcast : Reflecting on Legislation Day 2025 with Sharon Cooke

    We are excited to invite you to the next episode of The Tax Hour Podcast. In this episode, Nick Wright, Head of Corporate Tax and Host of ‘The Tax Hour’ is joined by Sharon Cooke, Technical Director at 2020 Innovation. In this episode Sharon and Nick reflect on the announcements that came out of Legislation Day 2025. On 21 July 2025, the government unveiled draft tax legislation and HMRC launched its new Transformation Roadmap. In this episode, Our Host and Head of Corporate Tax, Nick Wright is joined by 2020 Innovation’s Technical Director, Sharon Cooke to break down the biggest announcements from changes to inheritance tax reliefs and the rollout of Making Tax Digital, to HMRC’s push to become a digital-first tax authority by 2030. Tune in for the key headlines and what they mean for taxpayers, businesses, and advisers. If you have any questions or need further information, please get in touch. At Jerroms Miller Specialist Tax we offer a wide range of specialist tax advice for all business tax scenarios.

  8. 08/28/2025

    Part 2 - In Focus: Anti-Avoidance & HMRC Spotlights

    In this episode, Nick Wright, Head of Corporate Tax and Host of ‘The Tax Hour’ is joined by Michael Sherry, Tax Counsel at Temple Tax Chambers. In this episode Michael and Nick discuss Anti-Avoidance rules within the tax system and consider recent HMRC Spotlights. Anti-Avoidance refers to the framework of rules and principles designed to counteract tax arrangements that, while technically legal, are structured primarily to achieve a tax benefit in a way that undermines the intent of tax legislation. These measures, which include both General Anti-Avoidance Rules (GAAR) and Targeted Anti-Avoidance Rules (TAAR), empower tax authorities to disregard or re-characterise transactions that lack genuine commercial substance and are carried out primarily to avoid tax. The objective is to maintain the integrity and fairness of the tax system by preventing abusive practices that exploit legislative gaps or ambiguities. If you have any questions or need further information, please get in touch. At Jerroms Miller Specialist Tax we offer a wide range of specialist tax advice for all business tax scenarios.

See All (27)

About

Join our host Nick Wright, Director at Jerroms Miller, for a deep dive into the world of taxation, 'The Tax Hour,' explores the complexities of tax legislation, shares expert advice, and delves into the latest updates in tax alongside some of the most prominent individuals in the tax industry. In addition, this offers an open forum for collaborative live discussions with other leaders in tax, whether you're a seasoned professional or a curious taxpayer, our engaging discussions and insightful advice will empower you to develop your knowledge. Get ready to decode the language of taxes and transform your understanding of this essential aspect of the business landscape as we push through the jargon and deliver easy-to-understand analysis.

Information

  • Creator
    Jerroms Miller Specialist Tax
  • Years Active
    2025 - 2026
  • Episodes
    27
  • Rating
    Explicit
  • Copyright
    © Copyright 2026 Jerroms Miller Specialist Tax
  • Show Website
    The Tax Hour

You Might Also Like