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Nov 6, 2024 | 
charlesrussellspeechlys.com | Dominic Lawrance
Many sat down to watch the Halloween Budget with the nervous excitement of a cinema audience at a screening of a much-hyped slasher movie. There had been so much speculation about the gory horrors that the Chancellor had stored up in that infamous red despatch box. Surely the Budget could not be as stomach-churning as everyone was fearing? It is undoubtedly true that for some individuals, aspects of the Budget will have come as a relief. The widely-trailed CGT rate-rise turned out to be moderate.
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Mar 8, 2024 | 
taxjournal.com | Mike Lane |Paul Farey |David Whiscombe |Dominic Lawrance
HMRC manual changes: 8 March 2024 © Copyright LexisNexis 2024. All rights reserved. 8 March 2024 Direct taxes Manual Page Comments Employee Tax Advantaged Share Scheme User Manual Updated: ETASSUM34030 Expanded guidance on the means of contacting HMRC and the information to be provided when a bank or building society wishes to seek authorisation to act as a certified savings provider for the purposes of Schedule 3 Save As You Earn plans.
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Mar 8, 2024 | 
taxjournal.com | Mike Lane |Paul Farey |David Whiscombe |Dominic Lawrance
• An entrée before the manifesto main course? This Parliament’s last Spring Budget delivered on a number of political objectives, as well as setting the scene for the future, writes Chris Sanger (EY). • A welcome ‘as you were’ for most corporates• Cuts to NICs: giving back a portion of what’s already been taken• Economics view: making the most of a bad hand
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Mar 7, 2024 | 
taxjournal.com | Mike Lane |Paul Farey |David Whiscombe |Dominic Lawrance
Home >Articles > Spring Budget 2024: Tax rates and allowances Spring Budget 2024: Tax rates and allowances © Copyright LexisNexis 2024. All rights reserved. 8 March 2024 To view the rates published at Spring Budget 2024 please click here. If you are not a subscriber, subscribe now to read this content. Subscribe now If you are already a member, sign in Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
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Mar 7, 2024 | 
taxjournal.com | Paul Farey |Mike Lane |David Whiscombe |Dominic Lawrance
As flagged up in last November’s Autumn Statement, the Chancellor announced that the government intends to extend full expensing of plant or machinery expenditure to leased assets when fiscal conditions allow and draft legislation for this measure is to be published soon.
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Mar 7, 2024 | 
taxjournal.com | Dominic Lawrance |Mike Lane |Paul Farey |David Whiscombe
Without doubt the most interesting aspect of the Budget concerns the taxation of UK resident foreign domiciliaries. The government is proposing sweeping and multi-faceted reform:The remittance basis will be abolished with effect from 6 April 2025.
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Mar 7, 2024 | 
taxjournal.com | Mike Lane |Paul Farey |David Whiscombe |Dominic Lawrance
The government has announced that it will be including the enabling provisions necessary for the introduction of regulations providing for Reserved Investor Fund (Contractual Schemes) or RIFs for short in the Spring 2024 Finance Bill. This is welcome news. While the concept of an unauthorised version of the Co-ownership Authorised Contractual Scheme (CoACS) is straightforward, and is a clear gap in the UK’s range of fund types, the gestation process has been slow.
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Mar 7, 2024 | 
taxjournal.com | David Whiscombe |Mike Lane |Paul Farey |Dominic Lawrance
SMEs are not, as such, massively affected by the Chancellor’s Budget proposals, though of course many business proprietors will be affected at a personal level by the personal tax changes noted elsewhere in this Budget Summary. Increasing the VAT registration limit by £5,000 to £90,000 is hardly game-changing. Reducing NIC for employees and the self-employed by 2% is better than increasing it; but the employers’ NIC ‘Payroll Tax’ remains obdurately high at 13.8%.
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Mar 7, 2024 | 
taxjournal.com | Mike Lane |Paul Farey |David Whiscombe |Dominic Lawrance
If I had to sum up Budget 2024 for corporates in one word it would be ‘boring’. And that is a good thing. By and large corporate tax directors like predictability and stability.
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Mar 7, 2024 | 
taxjournal.com | Dominic Lawrance
Tax watch: 8 March 2024 © Copyright LexisNexis 2024. All rights reserved. 7 March 2024 Consultations updateAlternative finance: comments are invited on reforms to tax treatment of a commercial or residential property refinanced using alternative finance methods (closes 9 April). Business rates: consultation responses published on business rates avoidance and evasion that outlines reforms to combat abuse of the system (see Gov.uk).
