Author Archives: myersclark

The vote to leave the European Union has triggered a period of uncertainty for the UK economy. The UK’s future relationship with the EU will not be clear for some time.

The disclosure facility for individuals who have not yet reported tax irregularities from offshore income and gains will run until September 2018.

Mark Carney today was questioned by MPs over his warnings about outcome from Brexit. Treasury Select Committee Chair questions the Governor of the Bank of England over his ‘over-egging’ of the economic dangers of a Brexit and his subsequent encouragement to overreact following the results of the EU vote.

Entrepreneurs’ relief is important for all business owners, because the capital gains tax (CGT) charge on qualifying assets is only 10%. However, with the rate of CGT on most assets now down to just 20% for higher and additional rate taxpayers, missing out on entrepreneurs’ relief has not been quite so serious since 6 April this year.

Some people will now be able to have up to £17,000 of savings income tax-free as a result of the new £5,000 dividend allowance.

New research by the R3 trade body of Insolvency and Restructuring has revealed that at least one in five UK corporate insolvencies in the past year have been caused by late payment or the insolvency of another company.

A comment from Robert Marsden: HMRC have a warped and total unconnected view of reality with their latest consultation documents, and they seem to think every small business will be able to cope…

HMRC has received a consultation today announcing that accountants will face tougher penalties over advising clients of tax avoidance schemes.

More than half a million people have opened a Help-To-Buy ISA since the scheme was launched in December 2015.

A system to allow businesses to check and appeal business rates bills has been announced.