Following the Conservative majority in the December 2019 General Election, it seems highly likely that the Chancellor of the Exchequer, Sajid Javid, will announce a review of Capital Gains Tax Entrepreneurs’ Relief (CGT ER) in his first Budget on 11 March 2020.
Many of our clients are unsure exactly what an audit entails, including whether or not it involves a thorough examination of the company’s taxation affairs.
You do not have to search for very long to find masses of articles highlighting the benefits of formally winding down a solvent company through a Members Voluntary Liquidation (MVL). These predominantly circle around the tax advantages on distributions, but also include the peace of mind that the company has been exited through a formal process using a licensed insolvency practitioner.
Charities often become targets for cybercrime, with data or funds stolen before administrators even know they have been attacked. If a charity suffers a cyber attack, the negative impact to its reputation could be huge, so it is vital that the organisation does all it can to protect itself, and its reputation, from cybercrime.
Being appointed a charity trustee comes with a high level of responsibility. Following steps to ensure good practice at all levels means that you can be confident of not being accused of poor governance, should your charity come under scrutiny by the Charity Commission.
Completing your charity’s annual return can be tricky, especially if you are unfamiliar with the process. This can often lead to errors being made that are difficult and time-consuming to rectify. Making mistakes or providing the wrong information can damage your charity’s reputation, so it is important to do all you can to ensure you provide accurate information in the correct way.
The "Funding Real Change" document that was published in tandem with the Labour Party's Manifesto for the General Election on 12 December contains a number of drastic proposed changes to the current tax regime. Some of the changes have been trialled previously.
With the current fractious political climate, a General Election looming and seemingly endless gloom and uncertainty around Brexit we could all be excused for taking life very seriously at the moment. This is especially so where taxes are concerned.
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