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
Business separation demerger
Richard Coombs, tax partner at Bates Weston looks at selling part of a business and considers whether a business separation demerger is the answer.
Cost of Professional Tax Advice on Demerger
Richard Coombs, Tax Partner at Bates Weston looks at why separating businesses or assets through a demerger is worth the cost of professional tax advice.
Second Self Employment Income Support Scheme Grant
Claiming the second Self Employment Income Support Scheme Grant and understanding the term “adversely affected”.
Company Car v Van – the tax difference
Company cars and vans, when used privately by employees are treated differently for tax purposes, with vans generally treated more favourably than cars. We look at the grey area of multipurpose vehicles.
Keep a watchful eye on trading status
In part 7 of our Tax Planning Guide series, Cassandra Graham, Senior Tax Manager at Bates Weston urges us to keep a watchful eye on trading status, as the tax implications are significant.
Job Retention Bonus
More details on the Job Retention Bonus (JRB) have been released from the government. The JRB promises businesses a one off £1,000 payment for every previously furloughed employee if they were still employed at the end of Jan 2021.
Recap of CJRS changes
Wayne Thomas, partner at Bates Weston recaps the imminent changes to CJRS and stresses the need to plan ahead.
Disguised Remuneration : independent loan charge review
The legislative changes brought about by the independent review into the controversial loan charge received Royal Assent on 22 July and are therefore now law.
Strategies to Pay Director Shareholders
Cassandra Graham, Senior Tax Manager at Bates Weston looks at how director shareholders can pay themselves tax efficiently, given the fallout from Covid-19.
Disguised remuneration schemes – settlement refunds
If you used a disguised remuneration scheme between the 6 April 1999 and 5 April 2016 and settled the tax due with HMRC between 16 March 2016 and 11 March 2020, you may be eligible for a refund or a waiver.
Plans to extend Making Tax Digital
On 21 July the government published its 10 year strategy for the tax system. This included its plans to extend the Making Tax Digital initiative.
Tax planning, share incentive schemes and employee retention
Cassandra Graham, Senior Tax Manager at Bates Weston, considers the use of tax planning in attracting and keeping people who are driven to grow your business, in particular the use of tailored share incentive schemes.
Capital Gains Tax Review – is an increase on the way?
Craig Simpson, Tax Partner at Bates Weston considers whether an increase in Capital Gains Tax is on the way, following the Chancellor’s request for a review of Capital Gains Tax in a letter to the Office for Tax Simplification.
Cut in VAT rate for leisure and tourism sectors
As part of the government’s approach to support economic recovery, the Chancellor announced a temporary cut in the rate of VAT, from 20% to 5%, from the 15 July 2020 to 12 January 2021 for the leisure and tourism sectors.
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