Entrepreneurs’ Relief – outlook changing

Before the Budget, there were fears that it might be scrapped altogether. It wasn’t. Entrepreneurs’ Relief (ER) lives on, but with a new name – Business Asset Disposal Relief – and a new, lower lifetime limit. ER, as we will call it for one last time, is a...

Capital Goods Scheme for VAT – how does it work?

How it works and interacts with capital allowances. The VAT capital goods scheme affects input VAT recovery relating to high-value capital assets. Input VAT is a tax incurred on most purchases made by VAT-registered firms, and they can usually reclaim it from HMRC in...

Minimising the Capital Gains Tax Bill

There are many ways in which your eventual liability to capital gains tax (CGT) can be minimised, particularly when share prices are depressed. Many of us may currently have some time on our hands to accelerate tax year end planning. Central to this is making use of...

Personal Tax Changes for 2020/21

What you need to know for the tax year. The Government left it to the very last minute to announce its tax plans for 2020/21. Fortunately, Chancellor Rishi Sunak had a few surprises up his sleeve in last month’s Spring Budget. Three of the main taxes in the UK –...

Has the Time Come for Cryptocurrency?

Cryptocurrencies may have attracted their fair share of controversy, but there is little doubt their usage is becoming increasingly commonplace and acceptable. More companies are accepting digital tokens as payment, investors now consider them an asset class, and tax...