Build Your Business, and Keep More of Your Money

Chartered Accountants & Business Advisors

Call Us Today!

Budget


Personal Service Company Changes From April 2020

In the Autumn Budget the Chancellor announced that the “off payroll” workers rules that currently apply in the public sector would be rolled out to the private sector in 2020. The government have now issued a consultation paper that sets out proposed tax and national insurance changes that will impact on those supplying their services […]

Read more April 9th, 2019

Not All Shares Qualify For CGT Entrepreneurs’ Relief Now

As the result of changes announced in the Autumn Budget, and now incorporated into the latest Finance Bill, not all ordinary shares necessarily qualify for the 10% CGT entrepreneurs’ relief rate on disposal. As mentioned in last month’s Budget newsletter the definition of a personal company was tightened up so that from 29 October the […]

Read more December 7th, 2018

More Rates Relief For Small Businesses

There has been much lobbying from the small business sector to reduce business rates to enable traditional retailers, in particular, to compete with internet traders. The Chancellor has announced a one-third reduction in business rates for small businesses with premises with a rateable value up to £51,000.

Read more November 13th, 2018

Business Rates Relief For Small Businesses

There has been much lobbying from the small business sector to reduce business rates. The Chancellor stated that 600,000 small businesses currently benefit from small business rates relief. In order to support the licensed trade from April 2017, pubs with a rateable value up to £100,000 are able to claim a £1,000 business rates discount […]

Read more December 11th, 2017

New Company Loss Rules to Go Ahead

The Finance Bill due to be debated in early September will finally include the new rules for the set off of company losses that were originally announced in March 2016. As a result of the first Finance Act being rushed through due to the snap General Election the legislation to introduce the new company loss […]

Read more September 11th, 2017

Buying a Business? No Relief For Goodwill Now

Ever since April 2002 when a limited company acquires the trade and assets of another business it has been possible to obtain a tax deduction for the goodwill and other intangible assets of the acquired business, generally in line with the accounting treatment. So, if the goodwill of the acquired business was worth say £500,000 […]

Read more October 13th, 2015

No Tax Relief For The Write Off Of Goodwill On Incorporation

One of the anti-avoidance measures announced in the Chancellor’s Autumn Statement was a proposal to block the corporation tax deduction for goodwill and other intangibles transferred to a limited company on incorporation. This was potentially available where intangibles were created or acquired by the individual or a partnership after 1 April 2002 and then transferred […]

Read more December 12th, 2014