SME Tax News

Budget 2018: the chancellor has announced measures to ensure that the Employers' NIC Allowance will be restricted to smaller businesses only.

Budget 2018: the chancellor has announced a reduction of rate of special writing down allowance for capital allowances affecting assets in the special rate pool.

Budget 2018: the chancellor has announced that Income tax, Capital Gains tax and Corporation tax voluntary tax returns are to be put on a statutory basis.

Budget 2018: the chancellor has announced a temporary increase in the Annual Investment Allowance (AIA) to £1million.

Budget 2018: the chancellor has announced that the UK will be adopting OECD recommended changes to the definition of permanent establishment.

Budget 2018: the chancellor announced changes to taxing gains made by non-residents on UK immovable property, confirming that non-resident CGT will be extended to disposals of all UK land and to UK property rich companies. 

Budget 2018: the chancellor has included provisions in Private residence relief: Budget 2018 brief, restricting lettings relief and reducing the Private Residence Relief (PRR) final period exemption from April 2020.

Budget 2018: the chancellor has announced minor technical amendments to the Main Residence nil rate band which will have effect for deaths on or after 29 October 2018.

Budget 2018: the chancellor has announced VAT reverse charge anti-avoidance changes to remove unintended consequences for businesses trading below the VAT threshold.