Treasury delays Loan Charge report

Treasury delays Loan Charge report

As a result of the impending General Election, the Government yesterday announced a short delay to the publication of the much anticipated loan charge report following the independent review into the controversial loan charge legislation. In a letter to Sir Amyas...
Extracting capital from a company – GAAR panel opinion

Extracting capital from a company – GAAR panel opinion

The GAAR advisory panel has released an opinion into a share scheme designed to extract capital from a company in a tax free form. Craig Simpson, Tax Partner at Bates Weston, reviewed the panel’s announcement and commented: “Perhaps not surprisingly HMRC...
Selling off or developing your garden?

Selling off or developing your garden?

It is important to be aware of the tax traps and pitfalls involved when considering selling off or developing your garden. Over the years the trend has been towards smaller and smaller gardens, reflecting the increasing cost of land. Some, owning houses with...
A game changer for Entrepreneurs’ Relief?

A game changer for Entrepreneurs’ Relief?

In the recent tax First Tier Tribunal (FTT) Potter case, it was ruled that the company activities were the key when determining whether it was a trading company for Entrepreneurs’ Relief, even when the majority of income and assets were derived from investment bonds....
Loan Charge review announced by Government

Loan Charge review announced by Government

After extensive lobbying by affected taxpayers, MPs and other interested parties the Government last week finally announced a fresh review of the controversial loan charge.  Whilst this is welcome, a healthy portion of scepticism is required as the make-up of the...
HMRC take their time with R & D tax credit claims

HMRC take their time with R & D tax credit claims

Delays to R & D tax credit claims Richard Coombs, Tax Partner at Bates Weston reports that HMRC are currently taking up to 90 days to process R & D tax credit claims compared to the expected 28 day response. “Clients will need to be aware of the impact...