The Government wants to remind working parents that they could be entitled to up £2,000 per child per year to help with the costs of childcare, including regulated holiday clubs during the school holidays. The six weeks summer holiday can … Continue reading
HMRC outlines changes to Capital Gains Tax treatment on second homes
From April 2020, the date at which Capital Gains Tax (CGT) must be paid on a second home property disposal is changing. After this date, taxpayers will only have 30 days to file their return and make an advance payment … Continue reading
Construction businesses only have weeks left to prepare for the VAT reverse charge
Businesses in the construction industry now have only a matter of weeks left to prepare for the new VAT domestic reverse charge regime. These new rules will be enforced from 1 October 2019, significantly changing the VAT affairs and tax … Continue reading
Government’s draft IR35 legislation contains important changes
After much anticipation, the Government has now published its draft legislation for the off-payroll working (IR35) rules, which will be enforced in the private sector from 6 April 2020. The latest policy document for the private sector shares a number … Continue reading
Incorporation no longer automatically resets the two year requirement for sole traders
Entrepreneurs’ Relief (ER) entitles a business owner to significant relief from Capital Gains Tax (CGT) on the disposal of their business, often halving the consequent tax bill. To qualify for ER, the company must normally have been the business owner’s … Continue reading