Laurence Bard reviews the top five developments of 2011 relating to the taxation of SMEs
Roll-over relief is a valuable relief for businesses but the legislation is complex in parts. Paula Tallon examines some of the basic requirements and highlights some planning opportunities.
Employers and tax and payroll professionals were invited to help the government explore options for the operational alignment of income tax and national insurance contributions, after a recent call for evidence drew more than 70 responses and suggested a ‘clear appetite’ for reform.
Proposed changes to the rules allowing taxpayers to set business losses against income or capital gains are ‘unworkable, disproportionate and unfair’, according to the Chartered Institute of Taxation.
CIS returns: whether photocopy acceptable
Capital allowances: personal security
HMRC’s latest Agent Update highlights a key change to penalties for late filing of self assessment tax returns.
A tax relief for disincorporation of small businesses and a system of flat rate expenses allowances for the smallest businesses are among options for reform being suggested by the Office of Tax Simplification.