Tax Tuesday, today, sticks its neck out and predicts (ok, guesses) the ten most important tax changes affecting our clients, which Mr Sunak will announce tomorrow. Shall we say the pass mark is 40%?…. 1. Entrepreneurs’ Relief (ER) The ER 10% rate of tax...
A number of things conspire at this time to explain why Tax Tuesday, today, has decided to depart from its original plan and to outline the merits (including significant tax merits) of Relevant Life Policies. For recruitment and employee retention, this could be one...
We are currently receiving so many enquiries from clients about the merits of providing electric vehicles as “company cars”, that Tax Tuesday feels bound to recap on the irresistible tax incentives involved. Here are the simple abbreviated tax facts. Taxation of...
On 6 April 2020 the planned adverse changes to “private residence relief” and the associated “lettings relief”, on the sale of a house which has been your main residence at some point in time during your ownership, are scheduled to come into effect. Some taxpayers who...
As many of our readers will be aware, the SDLT code includes provision for “higher rate” transactions which (broadly) involve the purchase of a second dwelling (where individuals are concerned). The normal tiered rates of SDLT are all increased by 3%, as outlined in...
It’s a short Tax Tuesday today, but potentially a very important one nevertheless. The word circulating within the tax industry at the moment is that Mr Javid is about to take a hatchet to Entrepreneurs’ Relief (ER) – and change it “significantly”. Sometimes...
