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Insights

Our experts provide their insights on the latest industry developments and share tips on accountancy and business matters.

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Rachael Tate

Rachael Tate

Tax Senior Manager

07 April 2021

  • Construction & Property
  • Construction & Property Incentives
Budget 2021: Freeports

The UK Government announced in its Budget on 3 March 2021 that eight new Freeports are to be created in England. Usually located around shipping ports or airports, Freeports, sometimes known as free trade zones, are designated areas where businesses can benefit from more generous tax reliefs, simplified customs procedures and wider Government support.

Michael Murray

Michael Murray

Construction & Property Incentives Partner

03 March 2021

  • Construction & Property
  • Budget
Budget 2021: Construction and Property Incentives

Described by the Chancellor as “the biggest business tax cut in modern British history”, a super deduction was announced in the Budget allowing companies to cut their tax bill by up to 25p for every £1 they invest in qualifying plant and machinery. This is a positive move from the Government which will position the UK’s Capital Allowances regime as one of the most competitive in the world. Business rates relief for eligible retail, hospitality and leisure properties in England will also continue.

Laura Ritchie

Laura Ritchie

Tax Manager

04 February 2021

  • Construction & Property
  • Corporate Tax
Annual Tax on Enveloped Dwellings – COVID 19 related queries

The COVID-19 pandemic has impacted all businesses in different ways since March 2020.  Businesses required to file an Annual Tax Enveloped Dwellings (ATED) return may be questioning how the COVID-19 pandemic will impact their 2021/22 ATED return, due to be submitted to HMRC by 30 April 2021. Laura Ritchie, Tax Manager, takes you through everything that you need to know.

Laura Ritchie

Laura Ritchie

Tax Manager

12 January 2021

  • Construction & Property
  • Corporate Tax
Deadline approaching for Annual Tax on Enveloped Dwellings

If you’re due to submit an Annual Tax on Enveloped Dwellings (ATED) return, then now is the time to speak to your trusted business adviser at Johnston Carmichael.  ATED is a forward-looking tax, which you may need to submit a return for, even if there is no tax to pay.  This annual return, for the period 1 April 2021 to 31 March 2022, is due to HMRC by 30 April 2021.

Michael Murray

Michael Murray

Construction & Property Incentives Partner

18 November 2020

  • Construction & Property
  • Construction & Property Incentives
Welcome extension of the £1 million Annual Investment Allowances limit

The Government has announced that the planned reduction of the Annual Investment Allowance (AIA) from the temporary rate of £1 million to £200,000 on 1 January 2021 has been postponed. The temporary rate of £1 million will now be extended until 31 December 2021.

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