0897 099 890

Posts Tagged ‘Tax Advice’

Entrepreneurs’ Relief

Entrepreneurs’ Relief is available to individuals and some trustees in respect of capital gains made on the disposal of all or part of a business, business assets if the business has stopped trading and in certain cases shares owned in respect of a business. This relief is aimed at the individual and therefore whilst most…

Read More

Post Cessation Trade Relief – a consultation

On 12 January the Government via HMRC announced that it was to take immediate steps to counter tax avoidance resulting from post cessation trade relief. This relief arises when costs or bad debts are incurred which directly relate to a trade, profession or vocation which has ceased. Such costs or bad debts may be allowed…

Read More

Beware the one year window

With the deadline for submitting self assessment tax returns rapidly approaching, we have had a timely reminder of the importance of submitting returns on time. Those wanting to submit a paper return had until last October to do so, leaving on line filing as the only option now open. HMRC will issue a £100 fine…

Read More

2011, a taxing time

As we say goodbye to 2011 and start digesting the many hundreds of pages which make up the draft legislation for the 2012 finance bill; it is perhaps worth taking stock of the year just past and reflecting on what this might mean for the future of taxation. For many, 2011 was the year of…

Read More

EU Threatens Swiss deal

At the end of August we reported on the historic Swiss-UK tax deal which was designed to put an end to tax evasion via Swiss investments whilst maintaining the cherished secrecy of such accounts. This deal was structured to include a one-off payment from Swiss banks to the UK followed by a regular collection of…

Read More

The Autumn Statement

The Chancellor ‘s Autumn Statement was, as expected, a fairly gloomy affair. Whilst observers were pleased to see the Office for Budget Responsibility still predicting growth (even if just 0.7%) next year; the depth to which we are dependant on Europe and the rest of the world was brought home in no uncertain terms. From…

Read More

HMRC targets those with homes overseas

The days when overseas property and investments were largely invisible to the UK tax authorities are well behind us. International treaties together with the availability of computerised records mean that HMRC are able to access vast amounts of information about our affairs across the globe. One of HMRC’s latest targets relates to overseas homes. Initially…

Read More

Funding for films

The Prime Minister, David Cameron, has announced the extension of the film tax relief scheme until December 2015. The scheme, which in the past has helped to find projects such as the Harry Potter films and the currently in production James Bond film, provides tax reliefs of up to 25% of production costs. To be…

Read More

EU proposal for financial transaction tax

On 28 September 2011 the EU commission formally proposed to institute a common financial transaction tax (FTT). The tax is not expected to become effective until 1 January 2014, subject to the Council of Europe accepting the proposal. Whilst day to day activities such as mortgages and insurance contracts would remain outside the scope of…

Read More

Business records and tax returns

Self Assessment tax returns With only a couple of weeks left to get paper self assessment tax returns in on time, HMRC are reminding taxpayers that if they do want to submit a paper return they need to do it soon. The rules on penalty charges have toughened up this year and taxpayers will be…

Read More