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KRW Tax news

01 March 2018

Extended scope of the substantial shareholding exemption

on Thursday, 01 March 2018.

The substantial shareholding exemption (SSE) has been around for many years, and allows a company to sell shares in another company, with any gains tax-free.

In this month’s Tax News we take a look at the SSE, and how the revised rules extend the scope of the relief, and will apply retrospectively for disposals from April 2017 onwards.

31 January 2018

HMRC's trust registration service hit with delays

on Wednesday, 31 January 2018.

Following changes introduced in July 2017, all trusts must now give details of their assets, settlors, trustees and beneficiaries to HMRC, using the Trust Registration Service (TRS).

In this month’s Tax News we take a look at the TRS, which required new trusts to register by 5 January 2018, with existing trusts having to update their details with HMRC by 6 March 2018.

22 November 2017

EIS limits doubled for investments in knowledge-intensive companies

on Wednesday, 22 November 2017.

From April 2018, the limit for EIS investments made by an individual into knowledge-intensive companies will be doubled from the normal £1m to £2m. Alongside this, the limit of raising funds via EIS for these companies will also be doubled from £5m to £10, with similar changes to VCT limits.

22 November 2017

VAT Registration threshold frozen at £85,000 for next 2 years

on Wednesday, 22 November 2017.

The Chancellor referred to calls to reduce the threshold in line with other European countries, in a bid to ‘sell’ the announcement that the VAT registration will be frozen at the current level of £85,000 for the next two years, rather than increasing in line with inflation as it has done previously.

22 November 2017

Business rates rises to be linked to CPI from April 2018

on Wednesday, 22 November 2017.

The Chancellor confirmed that future rates revaluations will be linked to the Consumer Prices Index (CPI) rather than the Retail Prices Index (RPI) from April 2018, which should reduce the impact of rates rises on businesses. Also, future revaluations will be made every 3 years rather than every 5 years from 2022 onwards, with relief also announced for those affected by the so called ‘staircase tax’.
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