Articles

May 2019 Newsletter

Click here to read the RRL May 2019 Newsletter in full.

Don’t Lose Out When Disposing of Your Business

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, …

Age Discrimination

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

Probate Issues

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.

Claiming Capital Allowances

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.

Making Tax Digital for VAT: Your Questions Answered

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

Auto-Enrolment Pension Rules

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.

Keeping the VAT Inspector Sweet

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.

Extracting Company Profits in 2019/20