When it comes to R&D Tax Relief, software development is one area which has historically been challenging for both companies and advisers. Identifying whether a project qualified for relief could be difficult. Whilst it is easy sometimes to overlook “the other side of the fence”, these types of claims also 
Read more
Social Investment Tax Relief: doing well and doing good Recognising the growing importance of “impact investment”, with investors seeking investments with social and environmental benefits as well as financial returns, Social Investment Tax Relief (SITR) offers valuable tax reliefs to investors to social enterprises. Social enterprises include charities, community interest 
Read more
LAND REMEDIATION RELIEF – THE KNOTTY PROBLEM OF JAPANESE KNOTWEED AND OTHER LAND CONTAMINATES It might appear strange to consider Japanese knotweed in the context of a tax article, however, knotweed (which is particularly invasive and destructive) is perhaps the only plant specifically referred to in many thousands of pages 
Read more
Negligible Value Claims 2019 – The Facts The sale of company shares and other assets for more than their purchase price will generally give rise to a charge to capital gains tax. Conversely, the disposal of shares for less than their purchase price will result in a capital loss. Such 
Read more
Crypto asset tax : The New HMRC Guidance Update… In December 2018, HMRC released their long-awaited policy paper on the appropriate tax treatment of cryptoassets. This being HMRC’s second paper on this, the first being published in 2014. The paper goes some way in undertaking the difficult task of marrying 
Read more
January not only marks the start of the New Year but, for many people, a fresh start – a chance to make changes to their private and professional lives. However, for millions of people across the UK, it’s a time of stress as they make an annual attempt to finalise 
Read more
The Chancellor announced important changes to Entrepreneurs’ Relief in his 29 October 2018 Budget Statement. As discussed in a previous post, the changes as drafted had wide-ranging, and it is assumed untended, consequences. In particular, the new legislation as drafted could have denied Entrepreneurs’ Relief to any shares in companies 
Read more
Inheritance tax and specialty debts: not so special? Following consultation with professional bodies, HMRC has updated its guidance on the inheritance tax treatment of specialty debts. A specialty debt is: a debt made by deed, or a deed which records or creates obligations, or a debt incurred by way of 
Read more
NEW YEAR DISHONOUR: A KNIGHTHOOD AND A PARLIAMENTARY DOUBLE RAP FOR “PERVERSE” HMRC January is the time of year when many of us set out our intentions for the 12 months to come. Of course, abiding by resolutions requires a certain resolve, an ability to withstand pressure to change tack 
Read more
While it was ten years at the end of October since Satoshi Nakamoto’s paper conceiving of Bitcoin as a peer-to-peer electronic cash system, it was only in mid-2017 that Bitcoin and other cryptocurrencies became mainstream. Many accountants will be grappling with the implications of cryptocurrencies as they work to complete 
Read more