All posts with the topic: relief

HMRC have signalled their intention to introduce in FB13 two new TAARs to counter loss-buying, as well as to tighten up the existing rules on capital allowances-buying and loss relief. These changes are to take effect from today (20 March 2013).  As with all anti-avoidance rules, taxpayers will be concerned to establish whether their legitimate … Continue reading New loss relief rules take effect from today

Draft legislation has been published intended to “clarify” that companies can only claim CT relief in respect of shares acquired by employees (eg. through share options) if available under Part 12 CTA 2009; relief cannot also or instead be claimed under general accounting principles which require companies to recognise a fair value accounting expense in respect of … Continue reading Deductions for employee share acquisitions

There had been speculation that the introduction of the Annual Residential Property Tax, as well as extension of the capital gains charge, would be deferred. But not a bit of it. The new tax and the extended charge will come into force from 1st and 6th April respectively as originally planned. Whilst confirmed today, details on the precise … Continue reading High-value residential property update

As ever, pages of documents have been published backing up the Chancellor’s Budget speech made earlier today.  We are analysing these and will soon be blogging more in depth analysis but in the meantime here are some headline changes: Corporation tax rate to be 20% from April 2015 – this will match the small profits … Continue reading The headline changes….more to come

The CGT holiday for investors re-investing gains in SEIS shares has been extended for another year.  Whilst this is good news it is disappointing that the re-investment relief is only available for half the gain re-invested. SEIS relief has proved an extremely popular and invaluable means of raising vital seed capital for small start up companies in its … Continue reading Good news for investors in start up companies

We are very disappointed that the maximum fundraise per EIS company has been restricted to £5 million from the expected £10 million announced last year.  Clearly, the Government has run into some difficulties in obtaining EU approval for the £10 million limit.    The £5 million will now, subject to state aid approval, be a general limit … Continue reading EIS/VCT investment limits curtailed

Widely anticipated by the newspapers, the Chancellor has announced a targeted NICs holiday of up to £5,000 for each of the first ten employees hired by new employers outside London, the South East and Eastern regions.  Details of this three year incentive are yet to be revealed, but the scheme should be up and running by September. … Continue reading NICs – more questions than answers