Andrew Needham on what will MTD mean for VAT registered businesses?

HMRC have published a new draft VAT Notice 700/21 giving guidance on what records must be kept digitally within functional compatible software in order to comply with the requirements of MTD. Any records not listed in the new notice do not have to be kept in any specific way. Andrew, Needham, author of Bloomsbury Professional’s VAT Annual and contributor to …

Budget changes to SEIS/EIS/VCT include a boost for knowledge-intensive companies by David Brookes

Prior to the 22 November 2017 Budget there were concerns in the industry that the venture capital tax reliefs could be severely curtailed or even withdrawn.  The Autumn Budget did indeed introduce changes intended to tighten the rules and preclude ‘low-risk’ investments, but it also improved the position for knowledge-intensive companies by introducing higher investment limits. In order to prevent …

Autumn Budget 2017

Lee Sharpe outlines 6 Key Points for Advisers   Links to Budget Documents Chancellor’s Speech Red Book Overview Of Tax Legislation And Rates (OOTLAR) – includes TIINs Draft Legislation, Explanatory Notes and Technical Notes HMRC Consultations   1 Stamp Duty Land Tax The reduction in SDLT for first-time buyers grabbed the headlines: they stand to save as much as £5,000 …

Spurs 2 HMRC 0: Tax on termination payments

Following the First-tier Tribunal decision in HMRC v Tottenham Hotspur Ltd in 2016 concerning termination payments paid to transferring footballers ([2016] UKFTT 389 (TC)), the Upper Tribunal [2017] UKUT 453 (TCC) has recently upheld the FTT decision. David Whiscombe, Partner, Tax Technical, at BKL reports. The case concerned payments made to Peter Crouch and Wilson Palacios on the early termination of …