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Capital gains tax: letting relief

by | Nov 5, 2018 | ACCA, budget, capital taxation

Reforms due from April 2020. From April 2020 the government will reform lettings relief so that it only applies in circumstances where the owner of the property is in shared occupancy with the tenant. The final period exemption will also be reduced from 18 months to...

Any good news for landlords?

by | Nov 2, 2018 | ACCA, budget, property taxation

Landlords have had a rough ride in recent Budgets. Do they have any reason to smile this time? Since the changes in the residential property taxation, landlords were badly hit with additional stamp duty and interest claim restrictions and so on. Higher stamp duty land...

IR35 extended to the private sector

by | Oct 31, 2018 | ACCA, budget, IR35

As expected the chancellor announced the extension of IR35 to the private sector. As expected, the chancellor has gone forward with the extension of the off-payroll working rules (IR35) to the private sector. But after some recent legal cases and issues with checking...

The government acts on insolvency

by | Oct 15, 2018 | ACCA, business issues

Will ‘phoenix’ companies and corporate failures be a thing of the past? Many companies in the UK have suffered due to ‘phoenix’ arrangements. This is the well-known process where a debtor goes into liquidation owing money to its supplier and then miraculously starts...

Cash basis for property businesses

by | Oct 6, 2018 | ACCA, property taxation

Since 6 April 2017, the default basis of preparing accounts for unincorporated property businesses is cash basis. But eligible business have a choice of cash basis or accruals basis. The Finance Act 2017 inserted sections 271A- 271E in Income Tax (Trading and Other...

VAT vs. Brexit

by | Sep 25, 2018 | ACCA, business issues, VAT

What happens to VAT if there is no deal? Last month, the Department for Exiting the European Union issued guidance on how to prepare for Brexit if there is no deal. ACCA issued a statement highlighting the main impact on the VAT situation once UK is out of the...

Preparing for Brexit

by | Sep 24, 2018 | ACCA, business issues, VAT

Preparing for Brexit A look at government guidance, including on VAT MOSS. The guidance issued by the government to businesses and consumers – How to prepare if the UK leaves the EU with no deal – contains guidance on each of the following areas: applying for...

Keeping track of pensions

by | Sep 3, 2018 | ACCA, pensions, personal finance

Pensions never seem to stand still. From the increase in state age to the growing number of schemes individuals may be enrolled in, people increasingly have a range of queries State pension ages have been undergoing changes since April 2010. These changes have seen...
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