Restructuring a business to resolve shareholder disputes through a demerger can be a tax efficient option to separate ownership of assets, allowing shareholders to take their respective parts of a business under their sole ownership.
No late filing penalty if self assessment tax return filed by 28 February 2021, but interest will still be charged on any outstanding liabilities. More time to file your online return and make Time To Pay arrangements.
Following Rishi Sunak’s economic statement to the House of Commons on 11 Jan 2021, Craig Simpson, tax partner at Bates Weston, looks at the tax changes that may be ahead in the Budget on 3 March 2021.