Owner managed companies often seek to minimise the tax position of shareholder-directors by involving members of the same family and using personal reliefs and lower rate tax bands of each person. Income is therefore diverted from the higher rate taxpayer. However, anti-avoidance rules need to be considered as to whether [...]
UK company law already requires certain information on company directors and the registered legal owners of company shares to be made publicly available. One of the aims of the Small Business, Enterprise and Employment Act which passed into law earlier in the year is to ensure that it is clear [...]
Vantage Accounting, a leading local independent accountancy practice has announced it has opened new offices in St Cross Road, Winchester following a record year of growth. The new offices (a grade 2 listed building which is steeped in history) have recently been extensively refurbished. The move follows an increase in [...]
The Enterprise Investment Scheme (EIS) is now over 20 years old. This is quite a remarkable achievement for a tax break. A change in government often results in the demise of one tax break and the invention of a ‘new and better’ tax relief. There have been amendments to EIS [...]
Businesses, particularly small businesses, can have significant problems coping when an employee is off work for a long time. There is a very strong evidence base for sickness absence that shows that the sooner the causes of absence are identified, and acted upon, the better. Intervention at four weeks, compared [...]
To ask any question about the new flat-rate State Pension scheme seems to suggest a straightforward answer. Everyone will get the same amount won’t they? The answer to the latter question is no. The amount you will get will depend upon a number of factors including: how many qualifying years [...]
The Annual Investment Allowance (AIA) provides an immediate deduction to many business for the cost of most plant and machinery (not cars) purchased by a business up to an annual limit. The maximum annual amount of the AIA was increased to £500,000 from 1 April 2014 for companies or 6 [...]
There have been some recent changes to the amounts that can be claimed as repairs or replacements for landlords of residential properties but, despite these changes, the government is proposing further legislation in this area to be introduced from April 2016. The current treatment of repairs and replacements for residential [...]
The surprise announcement in the Summer Budget 2015 restricting income tax relief for interest costs incurred by landlords of residential properties became law in November 2015. Any hopes that the Chancellor would change his mind were dashed in the Autumn Statement in December when additional charges to Stamp Duty Land [...]
The UK tax regime provides an important relief from the capital gains tax charge (CGT) on the gains made by owner-occupiers on the sale of their private homes. This is known as Principal Private Residence relief (PPR). The general principle is that only one home can count as a PPR [...]