Autumn Budget 2018 – VAT groups

Supplies between members of a VAT group are disregarded for VAT purposes, which can be a great advantage on many levels. Under current UK rules, only corporates are eligible to join a VAT group. In addition, the current UK rules are currently...

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Autumn Budget 2018 – Offshore tax compliance strategy

HMRC’s last offshore tax compliance strategy was published in 2014, entitled ‘no safe havens’. HMRC considers it has made significant progress since then in tackling offshore tax evasion. In the last four years we have seen the Liechtenstein...

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Autumn Budget 2018 – Charities –increase in small trading exemption

For those charities that carry out trading activities that do not form part of their primary or ancillary purpose, a small trading exemption provides them with exemption from tax on income generated within certain limits. The current limits are as...

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Autumn Budget 2018 – SDLT and First Time Buyer’s relief

Previously first time buyers using the shared ownership scheme were not able to get the relief if they chose to pay stamp duty on just their share of the purchase. Stamp Duty on shared ownership homes, worth up to £500,000 is abolished for first...

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Autumn Budget 2018 – SDLT: higher rates for additional dwellings- minor amendments

Individuals who replace their main residence can reclaim the SDLT where the new home was purchased before selling the old, subject to the old residence being sold within 3 years of the new home purchase. The reclaim of additional SDLT paid could...

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