According to a written statment in Hansard, a number of clauses which had been intended for inclusion in Finance Bill 2015 have been deferred "as a result of discussions with the Opposition in the context of the end-of-Parliament wash up process". They are:
SME Tax News
There were two new announcements affecting Entrepreneurs' Relief (ER) in the 2015 Budget, in addition to measures previously proposed in the 2014 Autumn Statement. Subscribers: please click here for your detailed version of this note, with worked examples.
The chancellor George Osborne has made his budget report. Highlights include changes to the Entrepreneurs' Relief rules for limited company investment in partnerships, associated disposals and joint venture holdings and a restriction on CGT relief on wasting assets. Do read on to the end.
The EU court of Justice has ruled that France's 15.5% social charge on property sales by non-French EU residents is illegal. Some sellers may nevertheless have difficulty obtaining refunds of tax paid overpaid.
Hello
On the eve of tomorrow's Budget, here is a "not-the-Budget" SME tax news update. Lots of points of interest that might be in danger of being buried when "budget fever" grips the tax world tomorrow.
In Senex Investments Ltd v Revenue & Customs [2015] TC04312 the FTT allowed a Business Premises Renovation Allowance (BPRA) claim for a former church.
National Savings and Investment Granny bonds were available to the over 65s between January 2015 and May 2015.
In Tower Radio Limited, Total Property Support Services Limited v HMRC [2015] FTC/120/2013 a tax planning scheme designed to avoid income tax and NICs was found by the Upper Tax Tribunal (UTT) to succeed.