Latest Private Client Tax

8th November 2018 Entrepreneurs’ Relief changes

The government announced, as part of the Budget, that some changes are being made to the rules for Entrepreneurs’ Relief (ER) with immediate effect for disposals on or after 29 October 2018. Two new tests are to be added to the definition of a ‘personal company’, requiring the claimant to have a 5% interest in…

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15th October 2018 Preserve your wealth

Discover how to manage your wealth effectively at our annual event led by our wealth management and tax experts. There will be three presentations followed by a light lunch – a great networking opportunity. Tax planning tips & traps Barbara Nicholas, Tax Partner at Whiting & Partners  Passing on Wealth – How hard can it…

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26th September 2018 TechCos: Preserve ER with new tax election

Those companies that continually go through funding rounds, such as your typical techco start-up, should be aware that HMRC are introducing a new tax election wef 6-Apr-19: Proposed legislation contained within the Finance Bill 2018 This election will allow shareholders who hold at least 5% of the company on 6 April 2019, and who are…

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25th September 2018 Registering for self assessment

The deadline for registering for self assessment is 5 October for the 2017/18 tax year. Anyone submitting a self assessment return for the first time – including higher income child benefit charge (HICBC) taxpayers – need to register by 5th October 2018 so that they can complete and file their return by 31st January 2019…

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4th September 2018 EIS Test Case: Capital gains tax exit exemption not linked to income tax entry claim.

In a recent HMRC test case (Ames v CRC), the Upper Tribunal considered whether it was necessary for EIS income tax relief to have been claimed when an EIS investment was made, for the transaction to then potentially qualify for exemption from capital gains tax when the investment was sold. For the case in question,…

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30th August 2018 Preparing for Retirement

Retiring early is the dream for all of us, it is a chance to do more of what you enjoy, yet unsurprisingly the majority of us have never tried to calculate how much money we will need to save to live comfortably in retirement.  Your likely income needs will depend upon whether in retirement you…

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28th June 2018 Trading Allowances Change

Do you remember when eBay first emerged and become a revolutionary trading platform for buying or selling and, yes, turning a profit? As social-media has expanded, so have trading websites to the extent that there’s hardly a town, village or group that does not have a ‘buy’n sell’ page.   HM Revenue & Customs have…

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11th June 2018 Changes ahead for CGT payment

HM Revenue & Customs is proposing, in less than two years’ time, to rewrite the rules around Capital Gains Tax, CGT, following the disposal of a residential property. The current timescale for payment is going to be slashed to 30-days. From April 6 2020, a payment-on-account of CGT, will be required following the sale of…

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23rd May 2018 EMI Share Options: EU waives opportunity to ‘be difficult’.

Tech companies that have a business plan of developing a new product, with the aim of an eventual trade sale or IPO exit, will be very familiar with EMI share options. These options give generous personal tax breaks, to help recruit, retain and reward middle management and key workers. Under generic EU principles, such tax…

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5th April 2018 Deadline Approaching for ATED forms

  If you have a residential property which is worth more than £500,000 and is held in a company then you will be required to complete an Annual Tax on Residential Dwellings (ATED) form. The deadline is fast approaching with all ATED forms for 2018 to 2019 tax year being due for filing by 30th…

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