Spring Statement 2018
Click here to download our report for the Spring Statement 2018. March 2018...
14 March, 2018
Latest news
Inheritance Tax – general simplification review
Further to the Chancellor’s request for the Office of Tax Simplification (OTS) to review Inheritance Tax, the OTS has published a short scoping document advising that it will publish a report in the autumn of 2018 that is to consider how key aspects of the current...
16 February, 2018
Chancellor asks Office of Tax Simplification to review Inheritance Tax
The Chancellor has asked the Office of Tax Simplification (OTS) to carry out a review of Inheritance Tax. In particular, the Chancellor asks that the review should include
02 February, 2018
Autumn 2017 Budget Summary
Although the cut in the future UK growth forecast may be most worrying in the long term, the Budget was largely silent on tax matters that particularly impact upon farms. For landowners, the Chancellor talked up the housing market, and the aspirations of those hoping to get on the housing ladder, with Stamp Duty Land Tax relief for first-time buyers being made permanent, Please see the generic Autumn Budget Summany 2017/2018 guide for details of more general tax changes. The following are matters of greater concern for landowners and farmers:
22 November, 2017
What is needed so that a livery business qualifies for Business Property Relief?
The recent case of Vigne v HMRC provides a useful indication for livery businesses of when Inheritance Tax Business Property Relief might be available, although as the Tribunal states, this is dependent upon the facts of the individual case.
01 August, 2017
Inheritance Tax Changes Afoot?
As part of their summer reading, MPs have been given a 51-page briefing paper on Inheritance Tax which includes:
30 July, 2017
A new timetable for Making Tax Digital
Further to earlier news articles regarding Making Tax Digital, HMRC will not now seek to implement compulsory quarterly digital reporting of trading and property businesses results starting in 2018. Instead the process will be slower and initially only for VAT purposes, which is excellent news.
01 July, 2017
Measures omitted from Finance Act due to General Election
Due to the General Election, a shortened version of the original 2017 Finance Bill was enacted by parliament on 27 April, containing only 148 pages compared to 762 pages in the original Finance Bill published on 20 March 2017.
01 May, 2017
Cash basis for unincorporated landlords from 6 April 2017
As part of the measures being introduced with Making Tax Digital, to assist landlords in reporting their income, the cash basis will be available for unincorporated landlords from 6 April 2017 (ie for 2017/18 onwards).
01 April, 2017
Partnership taxation: proposals to clarify tax treatment
HMRC have confirmed that legislation will be introduced so that any retrospective variation to a partnership’s profit sharing arrangements made after the period end will not apply to returns for accounting periods starting on or after 5 April 2018.
20 March, 2017