01438 718118

info@rspartnership.co.uk



EMI SHARE OPTION SCHEME RECEIVES STATE AID APPROVAL

Blog, HMRC, Investments, Money Matters

Last month, we reported that the Enterprise Management Incentives (EMI) share option scheme lost its EU State Aid approval on 6 April 2018. The consequence of loss of approval being that the tax advantages of such options was temporarily withdrawn. On 16 May 2018 the European Commission gave formal state aid approval to EMI. Qualifying […]

THERE MAY BE MORE TAX TO PAY ON YOUR DIVIDENDS IN JANUARY

Blog, HMRC, Investments, Tax

The rules for taxing dividends changed radically from 6 April 2016 with the removal of the 10% notional tax credit and the introduction of new rates of tax on dividends. For many taxpayers there will be more tax to pay on those dividends on 31 January 2018. Up until 5 April 2016, the 10% dividend […]

MUST OWN 5% OF ORDINARY SHARES TO QUALIFY FOR CGT ENTREPRENEURS RELIEF

Blog, Investments, Money Matters, Tax

In order for a shareholder to qualify for CGT entrepreneurs relief on the disposal of their shares, they must be an officer or employee of the company (or group) and hold 5% or more of the company’s ordinary share capital and voting rights for 12 months prior to the disposal. The company must also be […]

MOTOR RACING SPONSORSHIP WAS TAX DEDUCTIBLE

Blog, HMRC, Investments, Money Matters, Tax

In order for an expense to be deductible against business profits it must be incurred “wholly and exclusively” for the purposes of the trade. In a recent tax case a hotel owner near Silverstone sponsored his grand-daughter’s career as a racing driver by making payments through his company. The argument was that this would promote […]

YEAR END CAPITAL TAX PLANNING

Blog, Business Tips, Estate Planning, HMRC, Investments, Tax

Have you used your 2016/17 £11,100 annual capital gains exemption?  Consider selling shares where the gain is less than £11,100 before 6 April 2017. Also, if you have any worthless shares, consider a negligible value claim to establish a capital loss. You may even be able to set off that capital loss against your income […]

CONSIDER OTHER TAX EFFICIENT INVESTMENTS

Blog, HMRC, Investments, Tax

If you are looking for investment opportunities, have you considered the Enterprise Investment Scheme (EIS)? These investments in certain qualifying companies allow you to set off 30% of the amount invested against your tax bill as well as capital gains tax (CGT) deferral. An even more generous tax break is available for investment in a […]

HAVE YOU USED YOUR 2016/17 ISA ALLOWANCE?

Blog, Budget 2017, HMRC, Investments, Tax

Your maximum annual investment in ISAs for 2016/17 is £15,240.  Your investment needs to be made before 6 April 2017.  In addition, have you thought about investing for your children or grandchildren by setting up a Junior ISA? In the 2016/17 tax year, you can invest £4,080 into a Junior ISA for any child under […]

POSSIBLE NEW LOOK-THROUGH ENTITY?

Blog, Investments, Tax

In the March Budget it was announced that the Government are considering the introduction of a completely new system of small company taxation and have asked the Office of Tax Simplification (OTS) to consider this possible new system in more detail. It is proposed that the new system, if introduced, would apply to micro-entities with […]

LIQUIDATING A COMPANY – IS IT A CAPITAL GAIN?

Blog, Investments, Tax

One of the anti-avoidance measures being introduced by the latest Finance Bill potentially changes the way that certain payments to shareholders will be taxed. This may result in payments following some company liquidations being taxed as dividends instead of capital gains. The Government is concerned that the new  higher rates of income tax that have […]

USED YOUR 2015/16 ISA ALLOWANCE?

Blog, Investments, Tax

Your maximum annual investment in ISAs for 2015/16 is £15,240.  Your investment needs to be made before 6 April 2016.  In addition, have you thought about investing for your children or grandchildren by setting up a Junior ISA? In the 2015/16 tax year, you can invest £4,080 into a Junior ISA for any child under […]