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March Online Service Updates

March Online Service Updates

A new edition of Agricultural, Business and Heritage Property Relief (previously Business and Agricultural Property Relief) is always a cause for celebration by practitioners involved in the area because author Chris Erwood has the rare ability to explain complex issues with perfect clarity. For example, here’s how the coverage of BPR clawback begins: “BPR may. Read more

Triennial review of FRS 102 by Steve Collings

Triennial review of FRS 102 by Steve Collings

Steve Collings highlights some of the key issues arising from the FRC’s recent triennial review of FRS 102. On 23 March 2017, the FRC issued FRED 67 Draft Amendments to FRS 102 – Triennial Review 2017.  This FRED proposed several amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of. Read more

Andrew Needham on what will MTD mean for VAT registered businesses?

Andrew Needham on what will MTD mean for VAT registered businesses?

HMRC have published a new draft VAT Notice 700/21 giving guidance on what records must be kept digitally within functional compatible software in order to comply with the requirements of MTD. Any records not listed in the new notice do not have to be kept in any specific way. Andrew, Needham, author of Bloomsbury Professional’s. Read more

Robert Maas argues that non-residents investing in UK property are being treated too harshly. What do you think?

Robert Maas argues that non-residents investing in UK property are being treated too harshly. What do you think?

If the government wants to promote the UK as an attractive place for foreigners to do business, it might be sensible to adopt a coherent response to UK investments by non-residents. If Mr Hammond has one, it is hard to discern what it is. His predecessor started the apparent disdain for foreigners in 2013 with. Read more

Budget changes to SEIS/EIS/VCT include a boost for knowledge-intensive companies by David Brookes

Budget changes to SEIS/EIS/VCT include a boost for knowledge-intensive companies by David Brookes

Prior to the 22 November 2017 Budget there were concerns in the industry that the venture capital tax reliefs could be severely curtailed or even withdrawn.  The Autumn Budget did indeed introduce changes intended to tighten the rules and preclude ‘low-risk’ investments, but it also improved the position for knowledge-intensive companies by introducing higher investment. Read more

Autumn Budget 2017

Autumn Budget 2017

Lee Sharpe outlines 6 Key Points for Advisers   Links to Budget Documents Chancellor’s Speech Red Book Overview Of Tax Legislation And Rates (OOTLAR) – includes TIINs Draft Legislation, Explanatory Notes and Technical Notes HMRC Consultations   1 Stamp Duty Land Tax The reduction in SDLT for first-time buyers grabbed the headlines: they stand to. Read more

Tackling tax evasion: the new corporate offences by Myfanwy Neville

Tackling tax evasion: the new corporate offences by Myfanwy Neville

Myfanwy Neville, Audit, Tax and Business Advisory Partner at BKL, explains the implications of the new corporate criminal offences on businesses.  To prevent the criminal facilitation of tax evasion, two new corporate criminal offences were introduced on 30 September this year (following Royal Assent of the Criminal Finances Act on 27 April 2017). Corporates and. Read more

Making Tax Digital by Lee Sharpe

Making Tax Digital by Lee Sharpe

Lee Sharpe looks at progress on Making Tax Digital, following the legislative updates. General Update A general update on MTD was included in Lee’s previous post: Making Tax Digital: Discussion and Disagreement on the Cost of MTD. The big news, of course, was the slippage of the introduction of mandatory ‘digitalisation’ for direct taxes, from. Read more

The effect of Brexit on the application of the EU direct tax directives by Paolo Arginelli

The effect of Brexit on the application of the EU direct tax directives by Paolo Arginelli

Paolo Arginelli, contributing author to Bloomsbury Professional’s forthcoming Tax Implications of Brexit, looks at the possible consequences of UK companies losing the right to benefit from EU direct tax directives. One of the main achievements of the EU, from a direct tax perspective, has been the adoption of the Parent-Subsidiary Directive (Council Directive 2011/96/EU of. Read more

Likely changes to SEIS, EIS And VCT reliefs by David Brookes

Likely changes to SEIS, EIS And VCT reliefs by David Brookes

Don’t worry – the venture capital tax reliefs are not likely to be abolished, but those of us who work with growth companies seeking investment through the Seed Enterprise Investment Scheme (SEIS), Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCTs) are not looking forward to the 22 November Budget. Rumours are rife that the. Read more

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