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.
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.
We look at current government guidance on self-isolation on return to the UK and how employers should respond.
Claiming the second Self Employment Income Support Scheme Grant and understanding the term “adversely affected”.
Company cars and vans, when used privately by employees are treated differently for tax purposes, with vans generally treated more favourably than cars. We look at the grey area of multipurpose vehicles.
In part 7 of our Tax Planning Guide series, Cassandra Graham, Senior Tax Manager at Bates Weston urges us to keep a watchful eye on trading status, as the tax implications are significant.
More details on the Job Retention Bonus (JRB) have been released from the government. The JRB promises businesses a one off £1,000 payment for every previously furloughed employee if they were still employed at the end of Jan 2021.
Wayne Thomas, partner at Bates Weston recaps the imminent changes to CJRS and stresses the need to plan ahead.
The legislative changes brought about by the independent review into the controversial loan charge received Royal Assent on 22 July and are therefore now law.
Cassandra Graham, Senior Tax Manager at Bates Weston looks at how director shareholders can pay themselves tax efficiently, given the fallout from Covid-19.
If you used a disguised remuneration scheme between the 6 April 1999 and 5 April 2016 and settled the tax due with HMRC between 16 March 2016 and 11 March 2020, you may be eligible for a refund or a waiver.
On 21 July the government published its 10 year strategy for the tax system. This included its plans to extend the Making Tax Digital initiative.
Cassandra Graham, Senior Tax Manager at Bates Weston, considers the use of tax planning in attracting and keeping people who are driven to grow your business, in particular the use of tailored share incentive schemes.
Craig Simpson, Tax Partner at Bates Weston considers whether an increase in Capital Gains Tax is on the way, following the Chancellor’s request for a review of Capital Gains Tax in a letter to the Office for Tax Simplification.