Around 280,000 sole traders along with around 250,000 partners in partnerships and LLPs will be affected by the changes being introduced by Basis Period Reform, also known as tax year basis reporting. There is guidance available for all those affected on GOV.UK. Limited companies are unaffected...
Stay safe with Blockpit’s comprehensive tax reports! Learn more about cost basis methods with easy to follow examples: UK Cost Basis Methods HMRC Crypto Tax DeadlineThe tax year runs from 6th April to 5th April of the following year. HMRC deadlines for filing tax returns and paying taxes,...
basis for calculating CGT if and when the property is later sold or disposed of. So, if the property has increased in value when sold, CGT may be payable on the difference between the market value at the time of death and the sale price. Always consult a tax professional for specific ...
make legal changes to support this effort, restoring a genuine deterrent to tax evasion and making sure people pay their taxes in the first place. These changes would raise £5bn a year by the end of the Parliament. As well as this package, Labour will be undertaking further detailed work...
it is to be expected that there will be a large volume of tax legislation which changes on a comparatively regular basis. This will in turn inevitably lead to a greater number of potential interactions between tax provisions, and a correspondingly greater likelihood of debate over the...
Corporate tax loopholes are estimated to be costing the tax payer £25 billion a year. Since moving its headquarters to Switzerland, Boots has reduced its annual tax bill from £100m to £14m, a saving enough to employ 4000 NHS nurses. ...
year was the introduction of strict liability corporate criminal offences for the failure to prevent the facilitation of tax evasion under the Criminal Finances Act 2017. The regulatory burden on corporates is increasing in relation to tax, and Finance (No. 2) Act 2017 introduced a new regime ...
basis for calculating CGT if and when the property is later sold or disposed of. So, if the property has increased in value when sold, CGT may be payable on the difference between the market value at the time of death and the sale price. Always consult a tax professional for specific ...
New tax year – the view from Sage Basis period reform changes How to set up an agent online account As an ACCA member, when you decide to be your own boss and run an accountancy practice, there are various considerations which members must comply with. Some of the key regulatory factors...
Where jurisdictions display a significant degree of reliance on so called ‘tax expenditures’ to influence taxpayer behaviour in the furtherance of government policies, it is to be expected that there will be a large volume of tax legislation which changes on a comparatively regular basis. This ...