Property taxes for senior citizens

For most individuals their residence is their main asset. Where transactions in connection with the property are undertaken without professional advice the tax costs can be unexpected and in many cases the costs could have been avoided with the...

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Is a grain silo plant?

Since capital allowances were invented accountants and businesses have struggled to determine whether certain items should be classified as “plant”, and hence qualify for higher capital allowances, or whether the expenditure was on a building or...

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Entrepreneurs’ relief conditions fudged

In the 2018 Budget the Chancellor announced that two additional conditions would apply with immediate effect to the definition of a “personal company”, to ensure that only shareholders with true material stake in the company can claim...

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Entrepreneurs’ Relief (ER) – share disposal update

The 2018 Budget has caused significant concerns for shareholders in companies that have multiple share classes carrying different rights and entitlements (also known as alphabet shares). The new proposed rules change the definition of ‘personal...

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VAT in the construction industry

The way VAT is accounted for in the construction industry will change from 1 October 2019. Draft legislation has been published, along with a variety of guidance notes, explanatory documents and policy papers. In this article we will work through...

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