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Nichola's SME Tax W-update 16 September 2021
Hello,
We have a good mix of cases this week, with yet another ‘wrong forms for SEIS’ case where this time the First Tier Tribunal (FTT) took a pragmatic approach and allowed shares to be issued under the Seed Enterprise Investment Scheme (SEIS) despite forms being incorrectly filed for Enterprise Investment Scheme (EIS) relief.
Nichola's SME Tax W-update 9 September 2021
Hello
All change in the world of tax this week as the Treasury reverts back to holding two Budgets in a year, and the Prime Minister announces election-manifesto-breaking tax rises.
Ouch! NICs and Dividend Tax rises hit wider than first thought
In September 2021 the prime minister announced a 1.25% rise in National Insurance Contributions (NICs) and dividend tax from 6 April 2022. As the dust settles, it becomes clear that the tax rises are wider-reaching measures than they first appeared.
Build Back Better: the government's tax plans for Health & Social Care
The prime minister has announced tax rises to fund the costs of Social Care and the NHS. Breaking two election pledges, the government's paper, 'Build Back Better: Our Plan for Health and Social Care', reveals plans to raise the rates of both National Insurance Contributions (NICs) and Dividend tax by 1.25% from 6 April 2022.
Nichola's SME Tax W-update 2 September 2021
Hello
This week we look at an unsuccessful judicial review of an accidently repaid disguised loan charge. We consider changes to the Trust registration service, we look at capital allowances, recent issues relating to COVID-19 grants and we warm up for our very first Virtual Tax Partner conference.
Trust Registration Service open for non-taxable trusts
On 1 September 2021, the Trust Registration service became available for non-taxable trusts to register with HMRC. Previously it had only been available to taxable trusts and those non-taxable trusts registered for the HMRC pilot of the service.
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