Apr 1, 2020 | Business Tax
HMRC has deferred rolling out the second phase of Making Tax Digital (MTD) for 12 months due to the coronavirus. Phase one of MTD for VAT kicked in from 1 April 2019, with what HMRC described as a soft-landing period. This included basic bridging software and no...
Mar 11, 2020 | Business TaxGovernment Announcements
Entrepreneurs' relief Entrepreneurs' relief lives for another tax year after being under threat prior to the Spring Budget, but a key change will come in for 2020/21. The rules allow business owners of two years or more to pay capital gains tax at 10%, instead of 20%....
Mar 11, 2020 | Business TaxPersonal Tax
Support announced for businesses affected by COVID-19 Jonathan Geldart, director-general of the Institute of Directors, said: "This was a box-office Budget. Given the circumstances, the Chancellor had to be bold, and he came through for business today. "With the...
Mar 11, 2020 | Business TaxPersonal Tax
Chancellor Rishi Sunak will deliver his Spring Budget speech this afternoon, just 27 days after succeeding Sajid Javid. It’s been a whirlwind month for the new Chancellor, who rewrote Javid’s speech before coronavirus forced another urgent rethink. Whether...
Mar 4, 2020 | Business Tax
Entrepreneurs' relief should be pruned back in next week's Spring Budget, the Federation of Small Businesses (FSB) has claimed. The Conservative manifesto pledged to "review and reform entrepreneurs' relief" prior to the general election last December. But Chancellor...
