Phillip Sykes shares R3 concerns regarding Small Business Bill

The bill includes a number of measures the government has been consulting on as part of the Red Tape Challenge and a recent consultation on insolvency regulation. We very much welcome the majority of the proposals which aim to update existing legislation. Indeed, proposals to simplify reports on director conduct in insolvencies is an area where we have been campaigning for reform for a number of years.

Reverse charge alert

As a financial services business, you may well not need to register for VAT. You may be primarily making exempt supplies, with any 'VATable' supplies falling below the VAT registration threshold.

Capital gains tax: relief for private residences

In general a UK-resident individual is liable to capital gains tax (CGT) on gains that arise on the disposal of any assets, wherever situated, with very limited exceptions. There are special rules, however, for individuals who are resident but not domiciled in the UK. There are also a number of reliefs, including one for private residences.
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