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Carbon emissions tax

Details of a proposed carbon emissions tax have been confirmed, but the measure will take effect only if the UK leaves the EU without an agreement. If implemented, it will affect permit holders of ... more


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Plastics tax

The government plans to introduce a tax on the production and import of plastic packaging from April 2022. This follows the government's response to the call for evidence on tackling the plasti... more

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57
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SDLT relief for first-time buyers extended

The existing Stamp duty land tax (SDLT) exemption for first-time buyers will be extended to shared ownership purchases. The Chancellor stated that the exemption of 'first-time buyers' SDLT ... more


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Changes to the higher rates of Stamp Duty Land Tax for additional dwellings

The time allowed to claim back higher rates for additional dwellings where an individual sells their old home is to be extended. Currently, a successful reclaim must be made by the latter of: ... more


68
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VAT: no change in registration and deregistration thresholds

The VAT registration and deregistration thresholds will remain unchanged for 2019/20. Therefore legislation will continue as follows: * the taxable turnover threshold that determines whet... more


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Digital Services Tax

From April 2020, the government will introduce a new 2% tax on the revenues of certain digital businesses which derive value from their UK users. The tax will: * apply to revenues generated fr... more


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Preventing abuse of the R&D tax relief for SMEs

The Finance Bill 2019/20 will introduce a limit on the amount of payable tax credit that can be claimed by a company under the Research & Development (R&D) SME tax relief. The limit will be... more


65
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Corporate capital loss restriction

The government will legislate in the Finance Bill 2019/20 to restrict companies’ use of carried-forward capital losses to 50% of capital gains from 1 April 2020. The provisions will include a... more


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Ending enhanced capital allowances for energy and water efficient plant and machinery

Ending enhanced capital allowances for energy and water efficient plant and machinery The lists of energy efficient and environmentally beneficial technologies and products which are eligible for... more


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Capital allowances: clarification of allowances for costs of altering land

Finance Bill 2018/19 will include provisions to clarify which expenditure on altering land may qualify for capital allowances for the purposes of installing plant or machinery. Allowances are inten... more


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First-year allowance for electric charge-points

The 100% first year allowance for expenditure incurred on electric charge-point equipment is to be extended for a further four years. The allowance will expire on 31 March 2023 for corporation tax ... more


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Capital allowances for structures and buildings

The government will introduce a new Structures and Buildings Allowance (SBA) for new non-residential structures and buildings. Relief will be provided on eligible construction costs incurred on or ... more


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Temporary increase in the AIA

Legislation will be introduced in Finance Bill 2018/19 to temporarily increase the annual investment allowance (AIA) limit to £1,000,000 from 1 January 2019 for two years. Transitional r... more


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IHT: changes to Residence Nil Rate Band

Minor technical amendments are to be made to the residence nil rate band (RNRB) for IHT purposes. The amendments seek to clarify the working of the downsizing rules and provide certainty over when ... more


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Autumn Budget 2018 -Entrepreneurs’ Relief: minimum qualifying period extension

The minimum period throughout which certain conditions must be met to be eligible for Entrepreneurs’ Relief is to be increased from one year to two years in respect of disposals on or after 6... more