At Budget 2020 the Chancellor of the Exchequer announced that the lifetime limit of entrepreneurs’ relief (ER) would be reduced from £10 million to £1 million for ER qualifying disposals made on or after 11 March 2020. Rules will also apply the… Read more
HMRC have announced that it will increase the maximum flat rate tax deduction available where employees incur additional household costs where they work at home under homeworking arrangements, from £4 per week to £6 per week. This will take effect from… Read more
Q. I am the sole director and shareholder of a limited company, which has been trading for many years. Last year, I took an extended holiday and travelled around the world with my wife. We were away for twelve months… Read more
In the December 2019 issue of Employer Bulletin, HMRC set out the action required to avoid any problems when merging or changing ownership of a business, to ensure all employees’ payroll details are transferred to the new business. When a business… Read more
HMRC have faced another defeat in a tax case involving the IR35 intermediaries’ legislation. In RALC Consulting Ltd v HMRC [2019] TC 07474, the First Tier Tribunal (FTT) allowed an appeal against HMRC’s determination that IR35 applied because of a ‘hypothetical contract’ between… Read more