Up until 6 April last year, the distribution of cash to shareholders on the winding up of a trading company by a liquidator, was usually taxed as a capital gain, potentially taxed at just 10% with the benefit of entrepreneurs’ relief.
As a result of the first Finance Act being rushed through due to the snap General Election the legislation to introduce the new company loss relief rules were dropped. This led to considerable uncertainty as to the start date of the new rules but it has now been confirmed that the new rules will apply from 1 April 2017 after all.
Question Time on R&D Tax Credits for Business Owners. Recent statistics show that there are in excess of £3billion in unclaimed R&D tax credits. Could local business owners be missing out on their tax relief claim?
WITH THE UK’S POPULATION AGEING, MORE PEOPLE WILL BE LIVING WITH LONG-TERM CARE NEEDS. OSCAR WILDE ONCE SAID: ‘THE TRAGEDY OF OLD AGE IS NOT THAT ONE IS OLD, BUT THAT ONE IS YOUNG.’ BUT THE GOOD NEWS OF RISING LIFE EXPECTANCY ALSO BRINGS WITH IT THE CHALLENGE OF HOW WE FUND OUR FUTURE CARE COSTS. THE QUESTION IS: WHO IS RESPONSIBLE FOR OOKING AFTER US IF WE NEED CARE IN OLD AGE?
When you quit the rat race, will you really have the time of your life?
As a business owner, I’m sure you have recently found yourself asking questions like – Is now the perfect time for switching to cloud based accounting?
BREAKING NEWS – As of yesterday (13 July 2017) ministers have confirmed a new timetable for Making Tax Digital and have delayed rollout by ‘at least’ two years until 2020, although quarterly VAT reporting using the system will be mandatory from 2019.