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...
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...
Private Residence Relief Changes

Private Residence Relief Changes

Private Residence Relief is changing from April 2020. Richard Coombs explains the changes and the implications for Capital Gains Tax. “As a further squeeze on taxpayers, HMRC have recently announced a further tightening on the Private Residence Relief (PRR),...