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SDLT Payment Pressures

As of 31 March 2019, SDLT is now due for payment 14 days after the completion of the transaction. Given the cashflow pressures of this it will be more important than ever to get the SDLT liability right and take advantage of any reliefs available. Multiple Dwellings...

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Claiming Entrepreneurs’ Relief on dilution

Cassandra Graham, Tax manager at Bates Weston, explains the elections you can make to protect your Entrepreneurs' Relief on dilution of your shareholding. As ever, this article is general in nature and you should take no action based upon it without first consulting...

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What now for the Loan Charge?

Richard Coombs, Tax Partner at Bates Weston, looks at the outcry against the retrospective nature of the loan charge, effective from the beginning of April 2019. You would be forgiven for thinking that now that April has passed then the loan charge is now a done deal...

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Tips to reduce your tax bill

Puzzling over your tax return? As the tax deadline of 31 January looms, our thoughts turn to making sure our client’s tax affairs are in order and that they are taking all reasonable measures within the constraints of the tax system, to ensure that they minimise their...

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Changes to Principal Private Residence Relief

Graham Buckell, Tax Partner at Bates Weston, explains the changes made to Principal Private Residence Relief (PPR) in the budget. "In his Budget speech, the Chancellor announced two changes to principal private residence relief. Both are due to come into effect from...

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Beginning of the end for Entrepreneurs’ Relief

Cassandra Graham, Tax Manager at Bates Weston, considers the new conditions and restrictions on Entrepreneurs' Relief post Budget. The Budget 2018 brought in unforeseen changes to Entrepreneurs’ Relief which turned a relatively straightforward piece of legislation...

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Landlords – cash is king

Richard Coombs explains the change to cash based accounting for landlords with rental income below £150,000. "At this time of year many people will be thinking about preparing their 2017/18 tax returns.  If you are a landlord, you may have missed an important change...

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IR35 impacts from Budget

With a 72-minute-long speech, and more than 100 pages of documentation to accompany it, there's a lot to report from Budget 2018. Several of the headline announcements brought in changes for small and large businesses alike, with initiatives aimed at improving growth,...

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Autumn Budget 2018 Summary

In his Budget speech yesterday, Philip Hammond described his Budget as one for hard working families; for strivers, grafters and carers. On several occasions he repeated the phrase “austerity is coming to an end” (not “at an end” as the PM had said), before announcing...

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Other announcements

Charity taxation From April 2019, the Government will introduce measures to reduce administrative burdens on charities. These include: An increase from £5,000 to £8,000 in the upper limit for trading charities can carry out without incurring a tax liability where...

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Entrepreneurs Relief Post Budget 2018

AN UPDATE ON THE IMPACT OF THE AUTUMN BUDGET ON ENTREPRENEURS RELIEF. Richard Coombs, Tax Partner at Bates Weston comments: “Whilst some commentators were predicting that the Chancellor would end the very generous capital gains Entrepreneurs Relief, he stopped short...

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Assurance options

For various reasons a business or a charity may need to assure interested third parties, its own management or shareholders/stakeholders that its financial statements are a true representation of its financial position. There are several ways that this assurance may...

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