Structure and Buildings Allowance

During the Autumn Budget in 2018 the Chancellor announced a new capital allowance – the Structure and Buildings Allowance (SBA). This was very welcome but is it as good as it sounds? The SBA is available for all business types including sole traders, partnerships and limited companies on qualifying costs for new commercial buildings such as […]

Construction Industry Round Up

A FOLLOW UP ON POINTS COVERED AT OUR RECENT CONSTRUCTION INDUSTRY BREAKFASTS In February and March, we ran seminars focusing on one of our specialist sectors, construction. In Yeovil, this was in conjunction with South Somerset District Council and their Chief Executive, Alex Parmley discussed development plans in the council and explained some opportunities to work […]

Goodwill Tax Relief Changes From April 2019

Since the 2015 Summer Budget, there has been no corporation tax relief available on the amortisation of goodwill acquired by a company, irrespective of whether that goodwill was acquired from a related or third party. However, in a bid to make the UK more competitive in the tax treatment of acquired intangible assets, the government announced a new […]

Making Tax Digital (MTD) – It’s Now Live…

The much talked about MTD went live on 1 April 2019. In case you have been living in a bubble and don’t know what MTD stands for, it’s Making Tax Digital. This is an HMRC initiative to digitalise record keeping and mandate the submission of information to them through digitally enabled software/links. Initially this affects the submission of […]

IR35 Reform

During the Budget speech last year, the Chancellor described the measure as a means of tackling perceived high levels of non-compliance with IR35 among the self-employed, stating, “Widespread non-compliance also exists in the private sector. So following our consultation, we will now apply the same changes to private sector organisations as well. But after listening carefully to representations […]

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