SME Tax News

Budget 2018: the chancellor announced changes to taxing gains made by non-residents on UK immovable property, confirming that non-resident CGT will be extended to disposals of all UK land and to UK property rich companies. 

Budget 2018: the chancellor has included provisions in Private residence relief: Budget 2018 brief, restricting lettings relief and reducing the Private Residence Relief (PRR) final period exemption from April 2020.

Budget 2018: the chancellor has announced minor technical amendments to the Main Residence nil rate band which will have effect for deaths on or after 29 October 2018.

Budget 2018: the chancellor has announced VAT reverse charge anti-avoidance changes to remove unintended consequences for businesses trading below the VAT threshold.

Budget 2018: the chancellor has announced Gift Aid Small Donations Scheme (GASDS) changes increasing the limit to £30 to align with the contactless payment limit.

Budget 2018: the chancellor has announced changes to the Capital Allowance rules to clarify when expenditure on altering land to install plant and machinery qualifies for allowances.

Budget 2018: the chancellor has announced that the first-year allowance (FYA) for electric charge points will be prolonged until 2023.

Budget 2018: the chancellor has announced the ending of Enhanced Capital Allowances (ECA) for energy and water efficient plant and machinery from April 2020.

Budget 2018: the chancellor has confirmed that the proposed changes to the VAT treatment of vouchers will go ahead as planned from 1 January 2019.