Hello
We have a draft Finance Bill for 2019 and some interesting changes coming up.
Finance Bill 2019 published
The draft Finance Bill 2019 was published on 6 July 2018 together with various policy papers and summaries of responses to earlier consultations.
Allowing Entrepreneurs' Relief on diluted shares: consultation response
HMRC has published ‘Allowing Entrepreneurs’ Relief on gains before dilution: consultation response’ alongside draft legislation which will ensure shareholders retain ER when a company ceases to be a personal company due to a fundraise.
Rent a room relief - consultation response
HM Treasury has published ‘Rent a room relief: summary of responses’ alongside draft legislation and a policy document. This confirms the retention of the relief and the introduction of a new shared occupancy condition.
Nichola's SME Tax W-update 6 July 2018
Hello
This time: HMRC tell us why they missed an important employment status indicator off their Check Employment Status tool (CEST): we think it's a cop out. The CIOT voice concerns over HMRC's litigation policy "shoot first and ask questions later"?, plus some interesting tax cases.
No IHT deduction for rent liability
In Execs of Estate of D S Campbell Dec’d v HMRC [2018] TC06389, the First-Tier Tribunal (FTT) held that outstanding rents on a lease related to the deceased’s business, were deductible in calculating the value of the Business Property Relief (BPR) qualifying business and not entitled to separate relief.
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