Welcome to our Winter newsletter

This quarter concerns a new tax relief, Investors' Relief, which has been introduced with the aim of attracting investment in new share capital for unlisted companies. We look at the conditions which need to be met by the companies. Investors who qualify for the new relief will benefit from a reduced rate of capital gains tax on the eventual disposal of the shares.

We also offer an insight into the changes made in government business departments and their responsibilities.

A new Tax-Free Childcare scheme is to be rolled out to eligible parents during 2017. We consider who will be eligible and also advise that childcare providers wishing to use the scheme should register with HMRC in advance of the roll out.

With the income tax higher rate point currently set at £43,000 and married couples wanting to utilise the basic rate tax band for both spouses, HMRC have been paying close attention to how rental income is divided between spouses. We review the rules and the traps for the unwary.

Small companies that qualify as 'micro-entities' now have a choice when preparing their financial accounts regarding the accounting standards used - either FRS 102 or FRS 105. We consider the merits and pitfalls of the options available.

In the article titled 'Our prospective tax system' we reflect that with a new Prime Minister and Chancellor of the Exchequer and HMRC issuing over 30 consultations we expect many changes ahead and will keep you informed of developments.

With HMRC reporting that inheritance tax receipts continue to rise, we consider the reliefs available to mitigate the liability. Recent and forthcoming changes to the rules mean it is important to take action to ensure you minimise your potential liability.

We also offer some tips on how to deal with distractions

Please contact us if you have any questions regarding any of the articles we have included in our newsletter or if you would like further information on a topic we haven't covered. Your views are always important to us and we would welcome your feedback.

Disclaimer

Division of rental income between spouses

Financial accounts for companies

Inheritance tax takes a bigger slice of the cake

Investors' Relief - new kid on the block

Making Tax Digital

Managing distractions

Our prospective tax system

Pension AE staging date pending or past?

Tax-Free Childcare for many more people

The new government business department

Travel travails