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Card image Chris Chapple, Chris Holmes, Nigel Giles
A '20 questions' guide to this most valuable relief.

In our continuing series examining the tax issues which make the headlines in the national press, Heather Self considers the recent furore over national insurance contributions. Class 2 or not class 2? That is the question.

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.

The Income Tax (Construction Industry Scheme) (Amendment of Schedule 11 to the Finance Act 2004) Order, SI 2016/404, simplifies the compliance test, which is one of three tests that sub-contractors must satisfy to be registered to receive payments gross under the construction industry scheme, wit

A mixed bag for owner-manager businesses, writes David Whiscombe (BKL Tax).

In a Budget that had little to say specifically about owner managed businesses, the most striking changes were to entrepreneurs’ relief, writes David Whiscombe (BKL Tax).

The Office of Tax Simplification (OTS) has published its third and possibly final report on the subject of the taxation of partnerships for smaller unrepresented businesses that are trading in an unincorporated form. Mark Waddilove (Baker Tilly) which responded to the consultation, assesses the report.

Your Lexis®PSL Tax guide to the tax measures
Card image Helen Lethaby, David Whiscombe, John Whiting CBE, John Hawksworth, James Bullock, Simon McKie

Practitioner views on the Autumn Statement:

  • Helen Lethaby (Freshfields Bruckhaus Deringer) examines the impact on big business;
  • Simon McKie (McKie & Co) reviews the private client perspective;
  • James Bullock (Pinsent Masons) considers enforcement and compliance issues;
  • David Whiscombe (BKL Tax) assesses the impact on SMEs;
  • John Whiting (OTS) gives the Office of Tax Simplification’s view; and
  • John Hawksworth (PwC) provides an economic perspective.

Andrew Goldstone and Victoria Howarth provide an update, including: the increased transparency of ownership of UK companies; new HMRC guidance on the taxation of damages; a recent decision on reasonable excuse for late returns; and why professionals acting as charity trustees need to be aware of potential conflicts of interest