Any immediate changes should be viewed as an interim step, says CIOT
Wendy Walton and Gemma Davies examine recent developments, including the first tribunal ruling on what constitutes reasonable care where a taxpayer has engaged an agent to act on his behalf.
Mike Lane and Richard Jeens examine the options available and the related tax issues
SEIS reinvestment relief is a very attractive relief but it is important to note that it applies for 2012/13 only, says Paul Howard
BIS consultation includes some details of tax treatment but HM Treasury will consult separately on tax issues
Helen Lethaby reviews recent developments
A company can purchase its own shares, but the basic principle is that any amount paid in excess of the capital subscribed for the shares is taxed as a distribution. However, as Paula Tallon and Paul Howard explain, where a number of conditions are satisfied, capital gains tax treatment can be obtained for the shareholder.
Penalty: failure to declare gains
Income tax and NICs will apply to initial transfer of shares, says Treasury
Businesses will be able to choose to offer only the new type of contract for new hires