Paula Tallon (Gabelle) looks back on some of the most significant tax changes affecting SMEs in recent months.
The lax landscape for SMEs is changing. This article looks back on some of the most significant recent changes in recent months.
Entrepreneurs’ relief
Most advisers to SMEs will be aware of the entrepreneurs’ relief (ER) changes contained in FA 2016. These are largely in response to representations made by professional bodies on how unworkable some of the provisions introduced in Finance Act 2015 were for businesses. The Finance Act 2015 changes limited the availability of relief on a disposal of personal assets used in a business when the business or part of it was sold to members of the claimant’s family under normal succession arrangements.
Points to watch
FA 2016 includes sections to update...
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Paula Tallon (Gabelle) looks back on some of the most significant tax changes affecting SMEs in recent months.
The lax landscape for SMEs is changing. This article looks back on some of the most significant recent changes in recent months.
Entrepreneurs’ relief
Most advisers to SMEs will be aware of the entrepreneurs’ relief (ER) changes contained in FA 2016. These are largely in response to representations made by professional bodies on how unworkable some of the provisions introduced in Finance Act 2015 were for businesses. The Finance Act 2015 changes limited the availability of relief on a disposal of personal assets used in a business when the business or part of it was sold to members of the claimant’s family under normal succession arrangements.
Points to watch
FA 2016 includes sections to update...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
