HMRC clarifies capital allowances rules for partnerships

[ad_1] HMRC has updated its guidance to make it clear that a partnership which includes a corporate member may claim capital allowances generally restricted to companies. These include the super deduction and full expensing. A partnership’s profits are calculated in accordance with the tax rules applying to its members, as follows:  where the partners are […]

UK government responds to venture capital reliefs report

[ad_1] The response suggests that the current sunset clauses for the enterprise investment scheme (EIS) and venture capital trusts (VCTs) will be extended beyond 2025. However, the response also pushes back on some of the committee’s other recommendations, including extending the company age and funding limits for these schemes. The initial report was published by […]

Capital gains tax considerations for landlords

[ad_1] Landlords may be selling to benefit from the CGT annual exempt amount before it falls, or market conditions may be forcing a sale, but they must be prepared to meet their CGT compliance obligations, Gillian Banks advises. Rising interest rates combined with the finance cost restriction and falling property prices are having an impact […]