AMID CONCERNS that the profession may have to go cap-in-hand to partners for extra capital, that succession planning may be impeded and capital reserves could be “decimated”, government guidance on the direction of travel on the taxation of LLPs has been eagerly anticipated.
The date of 17 February was widely mooted as the day such guidance would arrive, and yet here we are on 18 February none the wiser.
One theory doing the rounds is the loud shrieking from professional services has been shrill enough to genuinely affect the consultation – something many had taken to be lip service – while others suggest the government had simply meant the guidance would arrive sometime this week.
Either way, it’s not gone unnoticed, and with the changes due to take effect from April, it can’t be published soon enough.
HMRC has outlined a change in VAT policy to the treatment of dwellings that have been formed from either the construction of new buildings, or from the conversion of non-residential buildings
Let us hope that valuable asset protection vehicles are not made prohibitively burdensome or abolished in the desire to “simplify” IHT
Freelancers and micro-businesses still need more information about the government’s plans to make tax digital
The government is pressing ahead with changes to the way it taxes individuals with a foreign domicile