Insights
Our experts provide their insights on the latest industry developments and share tips on accountancy and business matters.
10 September 2024
Sunset clause extended: a new dawn for EIS and VCT schemesThere has been ongoing uncertainty over the life span of Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) relief, as the date within the “sunset clause” has been approaching. As of 3 September 2024, this extension has now come into force, which should be seen as fantastic news for the EIS ecosystem. Stephen Oates, Tax Director, explains further.
27 August 2024
Employment Related Securities - Penalty NoticesAn Employment Related Security (‘ERS’) is a security (e.g. shares, share options) which is acquired as a result of an individual’s (or a connected person’s) prospective, current or previous employment or position as an office holder (company secretary or director).
30 July 2024
Autumn budget day confirmed and latest tax changes announcedOver recent months in the run up to the general election it has, in tax terms, been ‘all quiet on the Western Front’. Monday’s announcement that the UK budget will be on 30 October and the release of draft tax legislation for Finance Bill 2024-25 changed all of that and what is clear is Labour are following through on pre-election pledges.
Greg Sutherland & Laura Hay
23 July 2024
Higher interest rates charged by HMRC on late payments of Corporation TaxFollowing on from the article published on 8 March 2023 regarding the new corporation tax rates, this article looks into the different payment dates of Quarterly Instalment Payments (QIPS) under the large and very large QIP regimes, the higher interest rates being charged by HMRC on late/underpaid amounts of Corporation Tax and the anticipated direction of travel by HMRC in relation to penalties being charged on the non-payment (or deliberate underpayment) of QIPS.
04 July 2024
A drop in EIS/SEIS Investment - but what’s on the horizon?In slightly unwelcome news, data has been released by HMRC and published recently in Taxation Magazine, which shows that for the tax year 2022/23, Enterprise Investment Scheme (EIS) investment is down by approximately 15% on the previous year, and fewer companies actually raised investment. and
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