News
A round up of our latest blogs, commentary or office news. Get in touch if you need more details on any of the topics covered.
Latest posts
Restructuring your business before sale
Planning to sell your business or are in the process of marketing it? Restructuring your business using a demerger may be a tax efficient method of accommodating a potential buyer.
Tax Policies and Consultations Paper Released
Tax policies and consultations papers released from HMRC on what many are calling Tax Day. The summary document covers modernising tax administration, tackling non compliance and makes further tax policy announcements.
Self Assessment taxpayers will not face late filing penalty, if filed online by 28 February
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.
Tax Changes Ahead?
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.
The Cashflow Cliff-Hanger
Wayne Thomas, partner at Bates Weston, looks at the cashflow pressures that are mounting for businesses.
National Lockdown new one-off top up business support grants
Following the National Lockdown announced yesterday by the PM, the Chancellor announced new one-off top up business support grants for the retail, hospitality and leisure sectors worth up to £9,000. Additionally discretionary funds are also available for other businesses impacted by the lockdown.
Furlough Scheme extended until April 2021
Chancellor extends furlough scheme until the end of April 2021 and Covid-19 business loan schemes extended until the end of March.
Employee Ownership Trusts rise in popularity
The use of Employee Ownership Trusts (EOT) by private companies has seen a considerable rise in 2020 and is expected to continue into 2021. But are they right for your company?
Writing the book on tax
Bates Weston’s tax team update and co-author Tolley’s Tax Planning for Owner Managed Businesses 2020-21.
Christmas Support Payment for wet-led pubs
Details of the Christmas Support Payment for wet-led pubs, that is those that derive less than 50% of their income from food sales.
Residual tax and the loan charge
Richard Coombs considers HMRC’s updated guidance on collecting any residual tax due as a result of the loan charge.
Online service for third SEISS grant available from 30 November
The government has announced that the online service for the third SEISS grant is now available. Claims can be made from the date given by HMRC in an email or letter or from within the online service but must be made by 29 January 2021.
Government publishes review of R & D tax relief regime
Government review of R& D tax relief indicates that the relief does promote R & D spending but that 51% of companies have never heard of it. Richard Coombs takes a look at the findings.
Capital Gains Tax overhaul expected following Capital Gains Tax Review
Craig Simpson , Tax partner at Bates Weston, looks at the recommendations made by the OTS’ first report on the Capital Gains Tax review requested by the Chancellor.
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