The Capital Gains Tax (Annual Exempt Amount) Order, SI 2011/899, specifies £10,600 as the exempt amount for 2011/12 by virtue of TCGA 1992 s 3, unless Parliament otherwise determines.
The National Insurance Contributions Act 2011 received Royal Assent on 22 March. It provides for increased rates of NICs and a regional secondary Class 1 contributions holiday for new businesses.
Next week’s Finance Bill will include legislation to reduce the main rate of corporation tax to 26% from 1 April 2011 and 25% from 1 April 2012. The small profits rate will be reduced to 20%, as announced in the June 2010 Budget, from 1 April 2011.
The Taxation of Pension Schemes (Transitional Provisions) (Amendment) Order, SI 2011/732:
The Finance Act 2009, Sections 101 to 103 (Income Tax Self Assessment) (Appointed Days and Transitional and Consequential Provisions) Order, SI 2011/701, and The Finance Act 2009, Schedules 55 and 56 (Income Tax Self Asse
Melissa Malins and Philip Spencer explain how to mitigate tax liabilities on UK property purchases
Long standing issues in small business taxation have so far proven to be intractable, the Office of Tax Simplification said in its interim report, ‘Small business tax review’, presented to the Chancellor last week
Richard Bramwell QC on a purposive interpretation of distributions received by small companies
Plumbers, gas fitters, heating engineers and ‘members of associated trades’ who sign up to a new disclosure facility and pay outstanding tax liabilities are to be offered a reduced penalty.
Steven Bone on the technical and tactical considerations concerning section 198 elections for capital allowances purposes