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Proposed changes for VAT on private school fees
Posted: 12/02/2024
It is widely anticipated that a general election will be held in the final quarter of this year. The Labour Party has confirmed that it intends to remove the VAT exemption on independent school fees, as originally set out in its 2019 manifesto. If Labour win the election, it could, theoretically, make a change to the VAT rules relatively quickly......>>
Enterprise Investment Scheme checklist (or why you won’t qualify for EIS relief)
Posted: 09/11/2023
EIS (Enterprise Investment Scheme) tax reliefs are very generous – investors can claim a repayment of income tax equal to 30% of their investment, and any gain on the sale of the shares is exempt from tax. But there are more rules than you can shake a stick at and every year extra ones are added. To help navigate the maze, here is a current checklist......>>
Tax on winding up a company
Posted: 09/11/2023
Assume that you have a company which has ceased trading and is left with a cash balance. You could extract most of the cash by paying a dividend, but that would be inefficient for tax purposes (resulting in tax rates of up to 39.35%). So, instead, you decide to wind the company up and receive the proceeds as a capital distribution......>>
Practical issues around capital gains tax on damages awards
Posted: 10/07/2023
Where a damages award is made in the context of a commercial dispute, it will generally be the case that the recipient is liable to income tax (or corporation tax on income if it is a company) on the payment. In very simple terms, this will be the case if the payment is compensation for lost income and is a receipt of the recipient’s trade, business......>>
The National Security and Investment Act – further guidance on notifications
Posted: 18/05/2023
The National Security and Investment Act 2021 (the NSI Regime) has been in force since January 2022. Following publication of the first set of market guidance notes in July 2022, the government has now published, on 27 April 2023, a new edition of notes, which are incorporated into the main NSI guidance. The latest update provides......>>

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