Insights
Our experts provide their insights on the latest industry developments and share tips on accountancy and business matters.
17 January 2022
Passing on your property in a tax-efficient wayPassing on land and property assets without incurring tax continues to be a challenge, particularly for residential or commercial property. However, careful planning can ensure you are able to manage the succession of these in a tax efficient manner - Alex Docherty explains in more detail in this article.
01 December 2021
No change to Capital Gains Tax and Inheritance TaxThis week, the UK Government published its Command paper – ‘Tax Administration and Maintenance’, which builds on the Government’s 10-year tax administration strategy published back in July 2020. Alex Docherty, Tax Partner, takes you through everything that you need to know.
Senga Prior
Tax Senior Manager
07 October 2021
Annual Investment Allowance (AIA) changesAIA provides full tax relief on qualifying plant and machinery in an accounting period subject to limits set by legislation. Currently the AIA limit is £1m but, assuming there are no changes in the Budget on 27 October 2021, this is set to reduce to £200,000 from 1 January 2022.
24 September 2021
An extra year to prepare for MTD for Income Tax Self AssessmentHMRC has announced that businesses will have an extra year to prepare for the digitalisation of Income Tax, with Making Tax Digital for Income Tax Self Assessment now due to be introduced in April 2024.
16 September 2021
Proposed changes to income tax basis periods delayed by a yearA new Government proposal, which will impact the tax position of unincorporated businesses, trusts and partnerships unless their accounting period is already aligned with the tax year end, has been delayed by a year. The proposal aligns with the Government’s plans for Making Tax Digital (MTD) for income tax, which has also been delayed by a year until April 2024.
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