Sick pay tax break update

This year’s Budget highlighted help for companies to get long-term sick employees back to work (an employee who is off work for more than four weeks). Companies can already claim a deduction for corporation tax purposes for expenditure on staff health and welfare.  The proposed change affects the benefit in kind treatment for relevant employees. […]

RTI exemptions extended into 2014

HMRC have today announced that they are seeking to extend the temporary relaxation of the new reporting rules for businesses with fewer than 50 employees from October 2013 until April 2014. HM Revenue & Customs have confirmed however that this relaxation will come to an end at this point. The extension means that businesses will […]

Rental Property BPR Claim Denied

In our eNews update last month, we reported on Ramsey v Revenue & Customs Commissioners (2013) UK UT 0226 (TCC) in which Mrs Ramsey successfully argued that her house in Belfast, divided into 10 flats and let out, qualified as a business for capital gains tax purposes. The Upper Tier Tribunal agreed that the degree […]

Social Investment Tax Relief Consultation

HM Treasury and the Department for Business, Innovation and Skills (”BIS”) have issued a consultation on the Government’s plan, announced at Budget 2013, to introduce a new tax incentive to encourage private investment in social enterprise for 2014. Social enterprises are businesses with primarily social objectives and span a variety of business models and legal […]

Cap On Loss Relief

Finance Bill 2013 includes provisions to cap income tax reliefs from 6 April 2013. Under the proposed legislation, certain income tax reliefs will be capped at the greater limit of £50,000 or 25% of the taxpayer’s “adjusted total income” for the tax year, meaning taxpayers with high income will be eligible for the highest relief. […]

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