Residence Nil Rate Band 2019/20 and the Family Home

Residence Nil Rate Band 2019/20 and the Family Home

Richard Coombs explains how the Residence Nil Rate Band and Inheritance Tax (IHT) apply to your family home. “As many people know, everyone gets a “nil rate band” to use against the total value of their taxable estate when they die.  Currently this is £325,000...
Off Payroll Review Announced

Off Payroll Review Announced

The Govt has launched a review of changes to off-payroll working rules (often referred to as IR35) following concerns over the chances of a successful implementation from April 2020. IR35 rules were introduced in 2000 to ensure that someone working like an employee,...
Loan Charge Review Published

Loan Charge Review Published

On 20 December the much-anticipated review of the controversial Loan Charge legislation was published.  Whilst there is welcome news for some, there are as many questions as answers and for many people, until further guidance is provided by HMRC, there is still no...
The Future for Entrepreneurs’ Relief

The Future for Entrepreneurs’ Relief

The Conservative manifesto included a pledge to review and reform Entrepreneurs’ Relief (page 34). This relief incentivises entrepreneurs to build their businesses as it allows them to pay a reduced capital gains tax of 10% on sale rather than the full rate of 20%....
Tax Tips 2020

Tax Tips 2020

As the tax deadline looms on 31 January for the tax year ending April 2019, here are our tax tips to keep your tax bill down. We encourage you to plan ahead for the current tax year.  We begin with the simple steps of meeting tax deadlines and using available reliefs...
Entrepreneurs’ Relief Post Election?

Entrepreneurs’ Relief Post Election?

What will happen to Entrepreneurs’ Relief post Election? There has been plenty of media coverage of the spending and revenue raising plans contained in the main parties manifestos.  Our tax team have been considering whether there are steps that can be taken to...