Spring 2019

Capital expenditure is an important area for every business. There have been several changes to the capital allowances regime over recent months, ranging from the introduction of the new non-residential structures and buildings allowance, introduced by Autumn Budget 2018; to the temporary increase in the annual investment allowance. Read more

Getting tax relief on a claim for capital allowances is not always plain sailing. This was recently highlighted at the tax tribunal, where a taxpayer faced the possibility of forfeiting tax relief on 80% of his expenditure. Read more

Acas has launched new guidance to help guard against age discrimination at work. Read more

The Pensions Act 2008 brought the requirement for employers to enrol particular qualifying employees in a workplace pension scheme, and to make scheme contributions. This auto-enrolment regime provides for an increase in minimum contributions on set dates – sometimes called phasing. Read more

Entrepreneurs’ Relief (ER) is a valuable tax relief for those disposing of a business. It can give access to a 10% rate of capital gains tax, subject to a £10 million lifetime limit. ER is potentially available to company shareholders, owners of unincorporated businesses and trustees. But for a claim for ER to be successful, close attention to the detail of the rules is critical – and important new conditions have recently been added. Read more

Negotiating the VAT rules is a complex business, considerable risk attaching to errors. But one recent tax tribunal case – which the taxpayer won – made more entertaining reading than many. Read more

Making Tax Digital for VAT (MTDfV), the new regime for VAT record keeping and VAT return submission, is now live. All businesses with taxable turnover over the £85,000 VAT registration limit come within the new rules. Read more

A substantial increase in probate fees was planned for April 2019, but is still making its way through parliament, due to pressure of other business. The media has been quick to call this a new ‘death’ tax. Strictly speaking, however, this is an ‘enhanced fee’, rather than a tax. It would apply in England and Wales, not Scotland and Northern Ireland, which have their own procedures. Read more