News
A round up of our latest blogs, commentary or office news. Get in touch if you need more details on any of the topics covered.
Latest posts
Inheritance Tax, Business Property Relief and the Autumn Budget
Craig Simpson, Tax Partner at Bates Weston looks at Inheritance Tax, in particular Business Property Relief and considers what plans Rachel Reeves might have in store for the Autumn Budget.
Autumn Budget: Pension Tax Relief
Craig Simpson, Tax partner at Bates Weston, considers the Autumn Budget, and the potential changes for pension tax relief.
Covid-19 Response: Autumn and Winter Plan 2021
A summary of the government’s Autumn and Winter 2021 Covid Response, including Plan A and Plan B, should the threat to the NHS become overwhelming.
Residential Property Developer Tax Draft Legislation
Government releases draft legislation on Residential Property Developer Tax for technical consultation. Clarifies definitions of residential property and associated activities.
What VAT rate applies to the hospitality industry from 1 October 2021?
Supplies made by the hospitality industry that have been subject to a 5% VAT rate since July 2020, will become liable to 12.5% VAT between 1 October 2021 and 31 March 2022.
Health and Social Care Levy
A summary of the PM’s statement on Health and Social Care, the introduction of the 1.25% Health and Social Care Levy from April 2022 and the lifetime cap on care costs of £86k from Oct 2023.
Penalties for late submissions to HMRC
A recap of HMRC’s proposals to reform the penalties for late submissions to a points based system.
Chartered Institute of Taxation responds to HMRC’s consultation on basis period reform
A summary of the Chartered Institute of Taxation’s response to HMRC’s consultation on proposed basis period reform, allocating trading profits to tax years rather than accounting years.
Residential Property Developers Tax (RPDT)
The government’s consultation on a potential new tax, Residential Property Developers Tax (RPDT) closed last month. RPDT if enacted, will tax profits made from residential property developments from April 2022.
Business Advisory Service – driving your business forward
BW Insight Business Advisory Service uses real time digital business records to provide real time advice to drive business improvements.
Hydrogen Strategy
Government announces first ever UK Hydrogen Strategy as part of its plans for a green industrial revolution and to achieve Net Zero by 2050.
Making Tax Digital for Income Tax
How will making Tax Digital for Income Tax – MTD ITSA – affect your business? An explanation of HMRC’s current proposals.
Tax Administration Framework Review
The ICAEW comments on the Tax Administration Framework Review consultation which closed on 13 July 2021.
Reporting tax on self-employed profits
Consultation document proposes moving from a current (accounting) year basis to a tax year basis for reporting tax on self-employed profits.
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