Cassandra Graham, Tax Manager at Bates Weston, considers the new conditions and restrictions on Entrepreneurs' Relief post Budget. The Budget 2018 brought in unforeseen changes to Entrepreneurs’ Relief which turned a relatively straightforward piece of legislation...
Richard Coombs explains the change to cash based accounting for landlords with rental income below £150,000. "At this time of year many people will be thinking about preparing their 2017/18 tax returns. If you are a landlord, you may have missed an important change...
With a 72-minute-long speech, and more than 100 pages of documentation to accompany it, there's a lot to report from Budget 2018. Several of the headline announcements brought in changes for small and large businesses alike, with initiatives aimed at improving growth,...
In his Budget speech yesterday, Philip Hammond described his Budget as one for hard working families; for strivers, grafters and carers. On several occasions he repeated the phrase “austerity is coming to an end” (not “at an end” as the PM had said), before announcing...
Charity taxationFrom April 2019, the Government will introduce measures to reduce administrative burdens on charities. These include: An increase from £5,000 to £8,000 in the upper limit for trading charities can carry out without incurring a tax liability where...
Does the 3% stamp duty land charge surcharge always apply when buying a second home?Graham Buckell comments: "As most people are aware there is now a 3% stamp duty land tax (“SDLT”) surcharge if buying a second home. This cannot always be avoided particularly where...
We have recently advised a family business where no one qualified for Entrepreneurs’ Relief.Craig Simpson focus' on the availability of Entreprenurs' Relief and trust holdings. "This is a first in my experience, but the client was rather surprised. Well-meaning trust...
HMRC have published their long awaited guidance on the Phoenix TAAR.The rules were introduced from 6 April 2016 to combat a common tax planning arrangement whereby a company traded for a period of time accumulating cash in a low corporation tax environment. The...
Frequently asked questions regarding Making Tax Digital, answered by Stuart Hulland our online accounting specialist.If you have more questions for Stuart, please do get in touch with him. stuarth@batesweston.co.uk What is Making Tax Digital - MTD? The government...
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