PRIVATE BUSINESS TAXES

In the first of a new series examining tax issues during the lifecycle of a business, Helen Cox and Gemma Grunewald (Fladgate) examine the tax issues to be considered when founding a business.

What is the tax and accounting treatment of the repayment of a contributed surplus from a subsidiary company to a parent company and how should this be treated in the parent company’s books? Jackie Wheaton (BDO) considers the key points.

This years Act makes the following changes to the capital allowances regime:The annual investment allowance (AIA) limit is increased to 1m between 1 January 2019 and 31 December 2020.Enhanced capital allowances (ECA) are removed from...

Good news for farmers.

This report, which sets out the key tax changes taking effect from April, was prepared by Deloitte’s Mark Groom (partner), Patricia Mock (tax director), Dan Nazarian (associate director) and Donna Huggard (associate director).

Substantial changes have been made to the profit fragmentation anti-avoidance since the original consultation was published, writes Mark Saunders (PwC).

Highlights include tweaks to entrepreneurs’ relief, a new and unexpected ‘structures and buildings allowance’, and the extension of ‘off payroll working’ rules, albeit with some welcome modifications. David Whiscombe (BKL) reports.

Entrepreneurs’ relief is meant to encourage the owners of successful companies. But owners who raise extra funds to grow their businesses can find that doing so means that they lose their entitlement to relief. The draft bill includes measure to alleviate this problem, but they only come into effect on 6 April next year so business owners need to take great care in the timing of any new fundraising.