A substantial increase in probate fees was planned for April 2019, but is still making its way through Parliament, due to the pressure of other business. Here, we take a look at the probate process, and consider how the rise in fees could impact you. What is probate? Probate is the process of handling a … Read more Considering the changes to probate fees
Entrepreneurs’ Relief (ER) is a valuable tax relief for individuals seeking to dispose of their business. It can give access to a 10% rate of capital gains tax (CGT), subject to a £10 million lifetime limit. ER is potentially available to company shareholders, trustees, and owners of, or partners in, unincorporated businesses. However, important new … Read more Disposing of a business? Make sure to claim reliefs
Making Tax Digital for VAT (MTD for VAT) is now live. Businesses with a taxable turnover above the £85,000 VAT registration threshold come within the new rules, and must comply with the initiative or face enforcement action. Here, we answer some of your key MTD for VAT questions. Q: Does my business have to … Read more Making Tax Digital for VAT: are you compliant?
Chancellor brings forward apprenticeships reforms in Spring Statement Chancellor Philip Hammond delivered the 2019 Spring Statement on Wednesday 13 March and brought forward the £700 million reforms for business apprenticeships previously announced in the 2018 Autumn Budget. Mr Hammond also announced that the halving of the Apprenticeship Levy co-investment rate from 10% to 5% takes … Read more Business and Tax Round-up