We are pleased to offer you a complimentary copy of our spring newsletter.
Ahead of the new tax year the Finance Act 2019 has received Royal Assent. Our newsletter this quarter looks at a few of the changes which will come into effect.
The articles in this issue are:
- Building for the future with capital allowances A new structures and buildings allowance (SBA) announced in the 2018 Budget will address ‘a gap in the current capital allowances system’.
- Restricting entrepreneurs’ relief The qualifying conditions have been tightened up and further changes will take effect in April 2019.
- Double hit to company cars There is a steep 3% increase in company car tax rates from 6 April.
- Probate fees hike targets larger estates The government has resurrected its controversial probate banding structure, now due to come in from April 2019, essentially creating a stealth tax aimed at larger estates. BSR Bespoke are licenced to carry out probate work, please click here to view our dedicated site.
- Child tax credit – three’s a crowd? There is no entitlement to the child element of child tax credit for a third or later child born on or after 6 April 2017. There are however certain exceptions and some rules have been relaxed.
- Boost for employers to come Changes that should help small to medium – sized employers were announced in the autumn 2018 Budget and will take effect over the next two tax years.
We hope you enjoy reading the newsletter. Please get in touch if you need help or advice on any of the topics covered.