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Archive for the "Business Tax" Category

commercial building

New Capital Allowance for Commercial Buildings

11th January | Posted in: Agricultural, Business Tax, Planning, Properties

A new 2% straight line tax deduction for the cost of construction or renovation of commercial buildings and structures was announced in the autumn 2018 Budget. HMRC have now issued a technical note se...

Increased Capital Allowances Start 1 January 2019

9th January | Posted in: Agricultural, Allowances, Business Tax, Tax planning

As previously advised, a temporary increase in the Annual Investment Allowance (AIA) to £1 million for expenditure on plant and machinery took effect from 1 January 2019. However, transitional rules ...

Scottish Budget 2019/20

20th December | Posted in: Business Tax, Company News, Government Announcements, Personal Tax, Property Investment

Derek Mackay MSP, the Scottish Cabinet Secretary for Finance delivered his draft Scottish Budget for 2019/20 0n 12 December 2018.  The main budget proposals are  as follows:- Personal Tax There are ...

VAT registration limit continues to be frozen

10th December | Posted in: Business Tax, Government Announcements, VAT

The VAT registration limit normally increases inline with inflation each year.  However, it was announced last year that the limit would be frozen at £85,000 until 1 April 2020. It has now been ann...

Research & Development (R&D) tax credit to be restricte...

7th December | Posted in: Business Tax, Government Announcements, Planning

The amount of repayable R&D tax credit for Small and Medium Sized Enterprises (SMEs) will again be restricted by the amount of the claimant company’s PAYE and NIC liability from 1 April 2020. Th...

Entrepreneurs’ relief changes

6th December | Posted in: Business Tax, Personal Tax, Planning

The Chancellor has announced two changes to Capital Gains Tax entrepreneurs’ relief:- The minimum qualifying holding period for entrepreneurs’ relief will be increased from 12 months to 24 months ...

IR35 “Off-Payroll” rules to be extended to private sector...

28th November | Posted in: Business Tax, Government Announcements, IR35

Very controversially, but as expected,  the Government has decided to extend the rules for personal service companies in the public sector to personal service companies in the private sector from Apr...

New structures and buildings capital allowance for commercial bui...

27th November | Posted in: Agricultural, Allowances, Business Tax, Planning, Properties, Property Investment

A new 2% straight line tax deduction, the structures and buildings allowance, has been introduced for the cost of construction or renovation of commercial buildings and structures. This tax break will...

Annual investment allowance increased to £1 million

27th November | Posted in: Agricultural, Allowances, Business Tax, Planning

The Annual Investment Allowance (AIA), which provides businesses with a 100% write off against profits when they acquire qualifying plant and machinery, has been temporarily increased from £200,000 t...

Other UK budget news

26th November | Posted in: Business Tax, Government Announcements, Pensions, Savings & Investments, Personal Tax

The annual ISA investment limit increased to £20,000 from 6 April 2017 and remains at that level for 2019/20. Dividends on shares held within an ISA continue to be tax free As previously announced th...

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