TODAY’S HEADLINE

Budget

Mini Budget Predictions

Our Tax Associate, Chris Hodgson, give his predictions for the mini Budget on 8th July… Due to the short timetable that was available to enact Budget announcements into a Finance Act prior to the election, a number of matters had to be set aside. … [Read More...]

Budget

Mini Budget Predictions

Our Tax Associate, Chris Hodgson, give his predictions for the mini Budget on 8th July… Due to the short timetable that was available to enact Budget announcements into a Finance Act prior to the election, a number of matters had to be set aside. Having now been re-elected, we can expect some of those matters to be reintroduced. Largely they were technical changes and so will not be grabbing headlines any time soon. This Budget will give the Chancellor the chance to remind us of the promises made in the party’s manifesto and to look to introduce some of them now as a clear statement of intent for the next five years. There will be talk of the bill that will prohibit any increase in tax rates. This has the benefit of creating a feeling of stability but, in reality, if a Chancellor wants to increase taxes there are many ways to do so other than raising the rate of tax. Welfare reforms One of the main areas of content is likely to be in terms of proposed welfare reforms. In … [Read More...]

Budget

Mini Budget Predictions

Our Tax Associate, Chris Hodgson, give his predictions for the mini Budget on 8th July… Due to the short timetable that was available to enact Budget announcements into a Finance Act prior to the election, a number of matters had to be set aside. Having now been re-elected, we can expect some of those matters to be reintroduced. Largely they were technical changes and so will not be grabbing headlines any time soon. This Budget will give the Chancellor the chance to remind us of the promises made in the party’s manifesto and to look to introduce some of them now as a clear statement of intent for the next five years. There will be talk of the bill that will prohibit any increase in tax rates. This has the benefit of creating a feeling of stability but, in reality, if a Chancellor wants to increase taxes there are many ways to do so other than raising the rate of tax. Welfare reforms One of the main areas of content is likely to be in terms of proposed welfare reforms. In … [Read More...]

Community Amateur Sports Clubs- And they’re off!

On Friday 27th March 2015, HMRC finally released the long anticipated CASC guidance notes, found at the link below, in relation to the new rules which will officially come into action on 1st April 2015. https://www.gov.uk/government/publications/community-amateur-sports-clubs-detailed-guidance-notes/community-amateur-sports-clubs-detailed-guidance-notes The guidance notes were as expected with some helpful examples included to demonstrate ways in which current registered CASCs could adapt certain aspects of their club in order to remain compliant with the new requirements. For example, the guidance provides detailed examples of ways which golf clubs could adapt their membership fees in order to enable those golf clubs with fees higher than the new £520 annual limit to remain a CASC. The guidance also sets out methods which HMRC would find acceptable as methods for CASCs to keep records of their members who “participate” in the sport, to assist those clubs with … [Read More...]

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