We have written before about the use of so-called "alphabet" shares to give different rights to particular shareholders in a company, and in particular the care that must be taken with anti tax avoidance legislation to avoid unpleasant surprises. What we haven't seen before is the problem encountered by a company owner in a recent [...]
Overview The Chancellor claims that the era of austerity is coming to an end, and there are substantial spending commitments, both in tax cuts and spending, most notably the NHS and Universal Credit – but all bets are off if there is a no deal Brexit. There follows a brief summary of the key points, [...]
A "call for evidence" One of the few newsworthy items in the Chancellors spring statement was a "call for evidence" about the impact on growth of the VAT threshold. There is, apparently, a bunching of businesses with a turnover just below the VAT registration limit of £85,000, suggesting that businesses close to the limit either [...]
As of 6 April 2017, employers with an annual wage bill of more than £3million must pay the apprenticeship levy towards apprenticeship funding. The levy is charged at 0.5% of the annual wage bill and is reportable to HMRC each month with each employer having an allowance of £15,000 to offset against their levy payment. [...]
Many companies' accounting periods are aligned with calendar year. A few simple planning tips implemented before 31 December 2017 can ensure that these companies can accelerate corporation tax relief and reduce their corporation tax liability due for the current year. Accelerate capital expenditure Each company and its associated companies share an annual investment allowance (AIA) [...]