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
Published on 28th 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?
Published on 30th September 2021
Setting up a trust may be ideal for those parents or grandparents who may wish to save money over a period of time to fund school fees or if they wish to transfer a lump sum as part of their estate planning.
What do parents and grandparents need to know about school fees and education trusts?
Published on 14th August 2021
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
Published on 9th August 2021
Updated on 10th August 2023
FICs are a solution primarily aimed at family wealth preservation. Until 2006 the usual strategy to preserve family wealth would have been the trust, but tax changes since 2006 have made the use of a trust less attractive.
What is a FIC and why are they gaining in popularity?
Published on 21st April 2021
Updated on 17th August 2023
