Posted: 14 / 06 / 2017
On Friday 9th June, our Tax department presented their quarterly tax update for this year to the team, over a few breakfast bites and hot drinks.
The Tax team covered topics on the Finance Act, Making Tax Digital and recent and proposed changes affecting OMB’s. Our Tax Partner David Evans. looked into the tax consideration of Commercial Property and Head of Tax,Darrell Booth discussed recent updates on the investment and incentive schemes (EIS & SEIS), which provides tax incentives to investors who invest in smaller, trading companies. They also touched on upcoming changes and updates of Corporation Tax.
Here are our top tweets from the update:
Our Tax team ready to give us their 2nd update on the changes that happened in the Budget. pic.twitter.com/GLLWXSfYx8
— Sedulo (@sedulogroup) June 9, 2017
Tax partner, David Evans, starts us off with an update on commercial property… pic.twitter.com/XpsFm65G4C
— Sedulo (@sedulogroup) June 9, 2017
Capital allowances – Anyone buying a building this year, have 2yrs to agree values with sales (fixtures within the buildings). #timingiskey
— Sedulo (@sedulogroup) June 9, 2017
VAT – Default treatments is exempt from VAT unless it is a new commercial building, less than 3yrs old or 'opted' tax…
— Sedulo (@sedulogroup) June 9, 2017
Tax Partner, David Evans – "Pension schemes are excellent for tax planning in commercial properties".
— Sedulo (@sedulogroup) June 9, 2017
Next tax update is all about SEIS & EIS and how the tax schemes can help smaller companies to get funding…
— Sedulo (@sedulogroup) June 9, 2017
Recent and proposed changes affecting OMBs – incorporating is still beneficial for small OMB's
— Sedulo (@sedulogroup) June 9, 2017
The OTS "Micro Incorporated Business" project states there are 4.1m business with <10 employees that fall into the OTS "micro" definition.
— Sedulo (@sedulogroup) June 9, 2017
That's it from our Tax team and their 2nd tax update. Join us for our next update in September. 📝
— Sedulo (@sedulogroup) June 9, 2017
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