Richard Coombs, tax partner at Bates Weston, uncovers the problems demergers are designed to fix. He explains how problems arise and why trying to resolve them using anything other than a demerger can often lead to significant tax charges.
HMRC are consulting on the tax treatment of Employee Ownership Trusts – an increasingly popular alternative to trade sale or Management Buy Out for business owners. Richard Coombs, Tax Partner at Bates Weston, considers HMRC’s proposals.
If you are a sole trader or partnership and your accounting year end is not 31 March or 5 April, you are going to be affected by a change in the way taxable business profits are calculated for a tax year.
The current situation with Making Tax Digital for Income Tax Self-Assessment – MTD ITSA, and what may happen next.
You can read our full report summarising the Spring Budget 2023 here.
As the self-assessment tax filing deadline has passed, it’s now time to check your plans are tax efficient for the tax year ending 5 April 2023.