Unexpected changes to the capital gains tax regime

Unexpected changes to the capital gains tax regime

Capital Gains Tax – Residential Property – Budget 2018. In his final scheduled Budget before Brexit, the Chancellor Philip Hammond announced a couple of unexpected changes to the capital gains tax regime and reliefs which are currently available to owners of...
Annual investment allowance increase for capital allowances

Annual investment allowance increase for capital allowances

The amount of “up-front” tax relief which is available for capital expenditure on plant and machinery, equipment and fixtures and fittings (but not property assets) has been up and down like a yoyo for the last 4-5 years, and this year is no exception. Having reduced...
Annual investment allowance increase for capital allowances

Changes to capital gains tax entrepreneur’s relief

There were many predictions before this week’s Budget that the Government considered that the 10% capital gains tax rate that applies to the first £10m of gains made by entrepreneurs on business assets was too generous and would be reined in. As it happened, the rules...
Research & development payable tax credit restriction

Research & development payable tax credit restriction

In this week’s Budget the Chancellor has announced a re-introduction of a restriction to the amount of R&D tax credit relief that can be claimed. This is aimed at preventing abuse of R&D tax relief for small and medium-sized enterprises (SMEs). The restriction...
Off payroll working reforms to be extended from the private sector

Off payroll working reforms to be extended from the private sector

Since the reforms for off payroll working were introduced for the public sector, there has been the expectation that this would eventually be introduced to the private sector. The reforms mean that businesses will become responsible for assessing an individual’s...
The Chancellor’s surprise giveaway

The Chancellor’s surprise giveaway

Whether or not you believe the Chancellor is right to say that “Austerity” is coming to an end, he certainly surprised most commentators with a number of his announcements, not least of which included the early implementation of the Government’s manifesto promise to...