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15-11-2018
Finance (No.3) Bill published

Finance (No.3) Bill published

As expected, the government published Finance (No.3) Bill on Wednesday, 7 November 2018. The Bill is so named as it is the third Finance Bill in the current special two-year session of Parliament. The Bill contains the legislation for many of the tax ... read more

15-11-2018
Directors’ loans – tax consequences for your company

Directors’ loans – tax consequences for your company

There are tax consequences for both companies and directors relating to the issue of director’s loans. We will examine below some of the implications if a company facilitates loans to a director. A director’s loan comprises not just an actual loan, ... read more

15-11-2018
Directors’ loans - tax consequences for the director

Directors’ loans - tax consequences for the director

An overdrawn director's loan account is created when a director (or other close family members) 'borrows' money from their company. Many companies, particularly 'close' private companies, pay for personal expenses of directors using company funds. ... read more

15-11-2018
ISAs and Inheritance Tax

ISAs and Inheritance Tax

New rules were introduced by the Government in 2015 that allow for the spouse or civil partner of a deceased ISA saver to benefit from additional ISA benefits. Under the rules, if an ISA saver in a marriage or civil partnership dies, their spouse or ... read more

15-11-2018
Employment status of football referees

Employment status of football referees

A recent First-Tier Tribunal case examined the complex issue of whether a group of 60 football referees should be classified as employees or self-employed. HMRC argued that the Professional Game Match Officials Limited (PGMOL) was the employer of the ... read more

15-11-2018
Holiday let property and Business Property Relief

Holiday let property and Business Property Relief

Business Property Relief (BPR) is an attractive tax relief for taxpayers with business interests, offering either 50% or 100% relief from Inheritance Tax (IHT) on the value of their business assets if certain conditions are met. The relief can even ... read more

15-11-2018
Foreign currency considerations

Foreign currency considerations

There are special rules that must be considered when buying and selling assets in foreign currency. This is sometimes known as a barter transaction. As a general rule when a foreign currency transaction takes place at arm's length, the value of the ... read more

15-11-2018
UK Living Wage rates rise

UK Living Wage rates rise

The Living Wage Foundation (an initiative of Citizens UK) recently announced Living Wage rates for London and the UK at £10.55 an hour and £9 an hour respectively. These Living Wage rates are not statutorily binding but represent an increase of 25p ... read more

15-11-2018
SDLT payment deadline to be reduced

SDLT payment deadline to be reduced

Stamp Duty Land Tax (SDLT) is a tax that is generally payable on the purchase or transfer of land and property in England and Northern Ireland. It is also payable in respect of certain lease premiums. Higher rates of SDLT were introduced on 1 April ... read more

13-11-2018
Security guidance on encryption and passwor

Security guidance on encryption and passwor

The Information Commissioner's Office (ICO) has published updated security guidance on encryption and on passwords in online services under the GDPR. The GDPR requires data controllers to implement appropriate technical and organisational measures ... read more