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  • Transferable allowance for married couples

    Transferable allowance for (some) married couples

    The Government and HMRC continue to highlight that around one quarter of entitled couples have not claimed the allowance which was introduced in 2015/16. Now may be a good time to ensure whether they can claim this relief. References to marriage also include civil partnerships. The relief As you will know, broadly an individual is […]

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    Liquidations beware

    The government has become concerned about companies being run for a short period of time, liquidated and then the trade restarted in another business vehicle. In order to address this, a new Targeted Anti-Avoidance Rule (TAAR) has been introduced which applies to certain company distributions in respect of share capital in a winding up. This […]

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  • Mercia Entrepreneurs' Relief

    Entrepreneurs’ Relief – Don’t Err in your claim

    Updated: 25 May 2018 Entrepreneurs’ Relief (ER) has been with us for many years and provides a valuable relief – only a 10% rate of CGT on lifetime gains of up to £10m. However, as with everything in the world of tax, there are always niceties to be observed in order to ensure that you […]

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  • Mercia Blog TTYC IR35

    IR35 – Agency rules

    The whole area of ‘disguised employment’ is in the spotlight at the moment. The Government reformed the off-payroll working rules (known as IR35) for engagements in the public sector in April 2017.

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  • Rental Income btw spouses

    Rental income divided between spouses

    Like many things, the allocation of income between spouses is a common area allowing some simple planning but there are rules for the unwary. One such area that HMRC seem to be paying close attention to at the moment is how rental income is divided between spouses.

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  • Mercia Blog Company Cars Changes 2018

    Changes to Company Cars in 2018

    There are significant rises ahead for company car drivers in 2018. The upside of these changes is that we know they are coming and so new purchases of vehicles can take account of them.

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  • Mercia Blog Pension Problems

    Pension problems

    The restriction of tax relief on pension contributions has been talked about for many years due to the massive cost to the Exchequer – over £30bn per annum.

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