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PRIVATE BUSINESS TAXES


Although the reduction in the entrepreneurs’ relief lifetime limit from £10m to £1m was a straightforward change, detailed anti-forestalling rules in the Finance Bill mean that planning undertaken in anticipation of this will need to be carefully considered, writes Robert Langston (Saffery Champness).
Jitendra Patel (BDO) examines the rules six years since their introduction and in light of the first reported case on their application.
This weeks Budget was hotly anticipated, with many commentators expecting the government to refocus its attention on the domestic tax and spend agenda, having put Brexit to bed. The coronavirus outbreak has put a bit of a spanner...

The tax affairs (and, more specifically, the tax returns) of partnerships and partners continue to create more than their fair share of controversy and procedural dispute. The latest is the First-tier Tribunal decision in Grinyer [2020] UKFTT 64 (TC).

Alan Barr and Isobel d'Inverno (Brodies) examine the first ever Scottish Budget to be delivered before its UK equivalent.
David Southern QC (Temple Tax Chambers) examines where things stand following publication of the first batch of draft legislation that restricts the loan charge.
Farming losses and the reasonable expectation of profits tests for sideways loss relief
Helen Cox and Gemma Grunewald (Fladgate) explain how businesses can expand overseas in a tax-efficient manner.
Catherine Robins and Sam Wardleworth (Pinsent Masons) review an interesting Upper Tribunal decision on the test for trading, 'golden contracts' and the availability  of enterprise zone allowances and legitimate expectation.
Martin Mann and Mark Baycroft (Markel Tax) reflect on the growing compliance burden and whether valuable reliefs will continue to be available in their current form.
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