What is the latest regarding Making Tax Digital?
Within this newsletter we will share the latest updates on Making Tax Digital (MTD) including who it will affect, how to ensure you are compliant and who are the MTD-compatible software suppliers. MTD was originally postponed, however the mandatory start date for MTD for VAT has been set, 1st April 2019. This requires any UK […]
Who Needs to Complete a UK Tax Return?
In the UK, we are in the fortunate position where most people earning a PAYE salary or wage or receiving a pension do not need to complete a tax return. However, each year, as working and lifestyle patterns change, the number of tax returns increases. More than 11,500,000 were filed for the 2016-17 tax year. […]
What qualifies for R&D Tax Relief?
A project may qualify for R&D tax relief if it has a result that creates a breakthrough in knowledge or competence within your field. Additionally, this may also be the case if work is carried out to resolve an uncertainty. Developing a new product is not sufficient enough to qualify. The key is the advancement […]
VAT and Duty on Dispatching Goods Within The EU
Dispatching goods within the European Union (“EU”) is relatively straightforward as the EU operates under a single market which guarantees four key freedoms across the twenty-eight members states. These are the free movement of goods, capital, services and persons. Whilst the Brexit negotiations are far from concluded, it seems that the UK government is looking […]
Venture Capital Schemes – The Risk-to-Capital Condition
For companies looking to raise funds based by a venture capital scheme and for investors looking to benefit from the tax relief, HMRC have introduced a key new condition – the risk-to-capital. This condition is being applied to the Seed Enterprise Investment Scheme (SEIS), the Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCT). The […]
The Enterprise Investment Scheme
It is a win-win situation for the Company and the Investor! The Enterprise Investment Scheme (EIS) has been made available by the government to help small to medium sized companies grow by acquiring investments. It is one of four schemes available and it provides tax relief for investors who purchase shares. Therefore, it acts […]
Is Your Company Eligible for R&D Tax Relief?
Answer our 6 simple questions to help you establish if your company is eligible for R&D Tax Relief: Please click here for the questions. If you would like to arrange an initial consultation that is free and without obligation to discuss your circumstances, please email us at tax@cooperfaure.co.uk.
The Dangers Of The HMRC Consultation On IR35 In The Private Sector
The HMRC is part way through a major consultation on the reform of off-payroll working, aka IR35, in the private sector which ends on 10th August. Their premise is that two people undertaking the same work, one employed and one working as a contractor working through their own Personal Service Company, end up “paying very […]
The European Commission Approves EMI Schemes Under State Aid Rules
Last week, the European Commission approved “the prolongation of the UK Enterprise Management Initiative (EMI) scheme ” under EU State Aid rules. In their news update, the European Commission stated that the UK authorities notified their plans to extend the scheme in March 2018. It seems extraordinary that this notification was left so close to […]
HMRC Warn Against Loan Charge Avoidance Schemes
At CooperFaure, we have received the following notification from HMRC on arrangements aimed at getting around the upcoming 2019 Loan Charge for individuals in Disguised Remuneration Schemes. “HMRC is aware of a number of arrangements being promoted which claim to enable users to escape the 2019 loan charge. HMRC’s view is that these arrangements do […]