The House of Lords’ Economic Committee has published ‘Making Tax Digital for VAT: Treating Small Businesses Fairly’. It recommends a one year delay in Making VAT Digital (MVD) mandatory. Unconvinced of HMRC’s logic that MVD will result in fewer errors, it finds that the forced use of software will make life even more difficult for small business.

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Brexit dominates the news headlines and it seems that one thing is certain: no one seems to know what's happening.

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This week we take a closer look at the Budget announcements affecting Personal Service Companies (PSC), we have a VAT update and for some reason we all decided to report IHT cases.

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As you know we had the Budget earlier in the week. Some announcements have immediate effect and these include changes to Entrepreneurs' Relief. These are all listed in our Budget Summary.

The chancellor increased personal tax allowances for individuals and increased the Annual Investment Allowance however he also restricted the scope of several valuable tax reliefs, including Capital Gains tax (CGT) Entrepreneurs' Relief and Private Residence Relief  and R & D as well as introducing the off-payroll working rules to medium and large companies in the private sector.