A number of suggested reforms to the CGT have been accepted by the government. In May 2021, the Office of Tax Simplification published a report that included 14 recommendations. The government’s response was published on 30 November. While any major changes, such as aligning… Read more
The enterprise investment scheme (EIS) is a collection of tax incentives aimed at encouraging private investment into younger trading companies. EIS is well established; however, the rules have been subject to various changes and additions over the years. In summary,… Read more
The old low value import VAT threshold of €22 was abolished in June 2021. All exports (which now include sales of goods to the EU) are subject to VAT. Where the total value of the shipment doesn’t exceed €150, the seller can… Read more
The first tax sites in the Freeports announced at the Spring Budget have now been designated, meaning that businesses operating within them can now access some of the reliefs. The sites are located in three of the eight Freeport sites;… Read more
Extension to “scheme pays” for annual allowance chargesCurrently, where a pension scheme member wishes to pay an annual allowance charge from their accrued pension savings, referred to as “scheme pays”, the scheme administrator has until 14 February following the end… Read more