HM Treasury and HMRC have recently published a summary and response document relating to the consultation on a new capital allowance for structures and buildings (SBA) which allows businesses that invest in new builds or renovations on or after 29 October 2018 to claim tax relief at 2% a year on eligible costs.

Pensions are a particularly tax-efficient form of savings since nearly everyone is entitled to receive relief on contributions up to an annual maximum regardless of whether they pay tax or not.

HMRC are currently running a campaign to remind people that they could get up to £2,000 per child, per year, towards childcare costs.

Questions and answers from our July 2019 newsletter, including tax-free childcare, structures and buildings allowance and pension contributions.

The National Insurance Contributions Bill was introduced into Parliament on 25 April 2019, containing provisions designed to align the income tax and national insurance contributions (NICs) treatment of termination awards and sporting testimonials, closing a loophole which currently allows effective tax planning.

HMRC have published an updated version of their guidance for businesses on Making Tax Digital for VAT. In particular, the guidance now includes information on how businesses should deal with petty cash transactions.

A partnership may be a simple trading vehicle enabling two or more people to own and run a business, but there are few practicalities worth considering before making the move.