The proposed extension of full expensing to leased assets
Changes to capital allowances rules have for many years been a prominent feature of the annual announcements from the Chancellor, generating endless rate changes and transitional measures. These yoyoing rules and thresholds have made it particularly difficult for businesses to plan tax efficiently for capital expenditure.
Removal of the remittance basis from April 2025 (often confused with ‘non-dom’ tax status)
I’ll start by putting a myth to bed – the term ‘non-dom’ remains because the concept originates from a taxpayers (and their parents) place of birth. Whilst a Chancellor has many powers he can’t change the origin of somebody’s birth!
SDLT - Multiple Dwellings Relief (MDR) and mixed use acquisitions
This was a nasty surprise in the Budget announcement – the removal of MDR. The announcement concluded it didn’t benefit the intended taxpayer and has been subject to frequent abusive claims.
Changes to the 'Non-Domicile' tax regime
In his 2024 Spring budget, the Chancellor Jeremy Hunt announced that the government would ‘abolish the current tax system for Non-Doms, get rid of the outdated concept of domicile and the remittance basis in the tax system’. But what is the ‘Non-Dom’ tax regime, and how could this affect you (even if you are not considered a Non-Dom)?
Reductions in Capital Gains Tax on Non-Principal Residences
Shaun Davison reacts to the Chancellors announcement on a reduction in Capital Gains Tax on Non-Principal Residences.
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 March 2024.
Furnished holiday lettings relief
The abolition of Furnished Holiday Lettings relief will have major implications for our region, a major tourist hotspot.
Lovewell Blake Spring Budget reaction 2024
Those expecting a buccaneering pre-election Budget from Jeremy Hunt will be feeling rather let down: this was a modest affair, full of measures which had been pre-briefed, and without even the traditional rabbit pulled out of the hat to please his own backbenchers.