Category Archives: News

Businesses in the EU should note that the process and deadline for making a VAT claim has changed this year, due to Brexit.

VAT claim deadline for overseas businesses is fast approaching

Esther Wood - Partner - ewood@goodmanjones.com

Posted on 7th December 2021

Categories:

Other than a few technical adjustments, there seems to be no immediate or radical changes to CGT and IHT today however it also does not appear to have completely rejected the idea of an overhaul which still could be seen in the future.

No changes to Inheritance Tax and no radical changes to CGT

Reena Bhudia - rbhudia@goodmanjones.com

Posted on 2nd December 2021

Categories:

The extended deadline will be particularly helpful given that the reporting process is not straightforward

Changes to reporting disposals of UK residential property

Reena Bhudia - rbhudia@goodmanjones.com

Posted on 2nd December 2021

Categories:

The Chancellor announced two key changes to R&D; one restrictive and one beneficial

Research & Development: What’s the situation post Autumn Budget 2021?

Graeme Blair - Partner - gblair@goodmanjones.com

Posted on 3rd November 2021

Categories:

A Picture of Richard Verge - Tax Director

Welcome announcements included increasing R&D support, extending the higher annual investment allowance limit, reductions in business rates for the high street and increases in the cultural tax reliefs. There were the increases in NI and dividend tax, the new residential property developer tax, the economic crime (AML) levy and the basis period reforms for unincorporated businesses.

Autumn Budget 2021

Richard Verge - Tax Director - rverge@goodmanjones.com

Posted on 28th October 2021

Categories:

Although this is a welcome announcement I still believe that the landscape of tax, the year-end and basis periods should be considered collectively.

An update on basis period reforms

Graeme Blair - Partner - gblair@goodmanjones.com

Posted on 6th October 2021

Categories:

My perception is the professional bodies have given a wholehearted thumbs down to the proposals and so I would be surprised if the Autumn Statement pushed forward the proposals without modification, or further consultation.

Will the basis period reforms actually happen?

Graeme Blair - Partner - gblair@goodmanjones.com

Posted on 30th September 2021

Categories:

I encourage anyone with an unincorporated business and the year end which is not already aligned with the tax year to contact their accountants to discuss the potential impact of these proposed changes

Will I have to pay more tax next year? Changes affecting partners in professional practices and sole traders

Richard Verge - Tax Director - rverge@goodmanjones.com

Posted on 9th August 2021

Updated on 10th August 2023

Categories:

This is very welcome news and potentially avoids the need for businesses to register for VAT in multiple EU Member States

VAT simplification for e-commerce businesses

Esther Wood - Partner - ewood@goodmanjones.com

Posted on 27th May 2021

Categories:

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Category Archives: News

Businesses in the EU should note that the process and deadline for making a VAT claim has changed this year, due to Brexit.

VAT claim deadline for overseas businesses is fast approaching

Other than a few technical adjustments, there seems to be no immediate or radical changes to CGT and IHT today however it also does not appear to have completely rejected the idea of an overhaul which still could be seen in the future.

No changes to Inheritance Tax and no radical changes to CGT

The extended deadline will be particularly helpful given that the reporting process is not straightforward

Changes to reporting disposals of UK residential property

The Chancellor announced two key changes to R&D; one restrictive and one beneficial

Research & Development: What’s the situation post Autumn Budget 2021?

Autumn Budget 2021

Although this is a welcome announcement I still believe that the landscape of tax, the year-end and basis periods should be considered collectively.

An update on basis period reforms

My perception is the professional bodies have given a wholehearted thumbs down to the proposals and so I would be surprised if the Autumn Statement pushed forward the proposals without modification, or further consultation.

Will the basis period reforms actually happen?

I encourage anyone with an unincorporated business and the year end which is not already aligned with the tax year to contact their accountants to discuss the potential impact of these proposed changes

Will I have to pay more tax next year? Changes affecting partners in professional practices and sole traders

This is very welcome news and potentially avoids the need for businesses to register for VAT in multiple EU Member States

VAT simplification for e-commerce businesses

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Businesses in the EU should note that the process and deadline for making a VAT claim has changed this year, due to Brexit.

Other than a few technical adjustments, there seems to be no immediate or radical changes to CGT and IHT today however it also does not appear to have completely rejected the idea of an overhaul which still could be seen in the future.

The extended deadline will be particularly helpful given that the reporting process is not straightforward

The Chancellor announced two key changes to R&D; one restrictive and one beneficial

Although this is a welcome announcement I still believe that the landscape of tax, the year-end and basis periods should be considered collectively.

My perception is the professional bodies have given a wholehearted thumbs down to the proposals and so I would be surprised if the Autumn Statement pushed forward the proposals without modification, or further consultation.

Initial thoughts are that companies should be looking at their distributable reserves and considering paying dividends before 6 April 2022 and employers could consider salaries and bonuses before the same date as well.

I encourage anyone with an unincorporated business and the year end which is not already aligned with the tax year to contact their accountants to discuss the potential impact of these proposed changes

This is very welcome news and potentially avoids the need for businesses to register for VAT in multiple EU Member States