Posted by James Finnegan on 25/08/2010
Following our campaign against the previous Government’s proposed repeal of the special Furnished Holiday Letting (FHL) tax rules, we are very pleased that the June Budget announced the repeal will not go ahead.
HM Treasury have instead issued a document for consultation, proposing to tighten the following conditions for relief, with effect from April 2011:
- Increasing the minimum period over which a qualifying ...
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Posted by Fleur Oswald on 05/07/2010
From the 1 April 2011, HMRC will only accept accounts and Corporation Tax returns in a new format called XBRL - which means that accounts and returns prepared in Word, Excel and many other software packages won’t be accepted!
XBRL, which stands for eXtensible Business Reporting Language, is a standard format and will allow HMRC to store information in a way that makes it easier to ...
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Posted by Andrew Browne on 15/06/2010
With the budget a week away, I thought I would set out what I believe the Chancellor may change - please note this is purely my thoughts, and not based on fact:
Capital Gains Tax
The chancellor will introduce a new top rate for CGT of 40% on investment assets. Business assets will continue with an effective rate of 10%.
I imagine there will be an extension of ...
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