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September 2016

Government to replace EU funding

Thousands of British organisations will receive guarantees over EU funding in a new move by Chancellor Philip Hammond last month.

Tax Diary September/October

Keep up to date with the tax diary. 

New successes for HMRC in the courts

HMRC seem to be making progress in their attempts to discourage, and recover unpaid tax, from participators in tax evasion schemes. 

Claiming back VAT on a vehicle purchase

Generally speaking, the purchase of any vehicle where there is any element of private use means any reclaim of VAT may be restricted. HMRC’s website offers the following guidance:  

London will offer low emission discounts for ships

The Port of London Authority (PLA) operates across 95 miles of the River Thames, and works to keep commercial and leisure users safe and protects and enhances the surrounding environment. The PLA also works to promote the use of the river, for trade and travel.

Academies: AAR

The AAR will no longer be filled in via an excel spreadsheet, the 2015/16 return will be replaced by an online form, which the EFA are currently finalising, with it due to be launched on 31st October.

Farmers log heightened interest in woodland and forestry and its all down to timber!

A recent resurgence in firewood and timber prices combined with strong returns for investors is leading to heightened interest in UK woodland and forestry, leaving many investors wondering if money really does grow on trees....

Spending the kids inheritance......

When considering any type of tax planning and in particular Inheritance planning it is important to ensure that you do not give too much away too quickly. You have worked hard to accumulate your savings and assets. When looking at gifts, ensuring that you have enough funds to maintain your lifestyle is the number one priority.

Where there's a will there's a way.....

If you have not made a will your estate may not go to the beneficiaries that you intend it to. In October 2014 the Intestacy laws changed, reformed to suit the Modern Family. The changes improve the position for surviving spouses but may lead to more claims by Adult children under the Inheritance (Provision for Family and Dependants) Act 1975.