Government retreat on key tax reforms
According to The Times the Government are looking to mitigate the changes proposed in the Pre Budget Statement three weeks ago. Apparently the plan is to introduce a form of retirement relief of £100,000, aimed to assist small businessmen who are selling up and retiring. As of the time this was posted the HMRC website had no details on this and so we do not know if it is accurate and, if so what is meant by small or retiring or what tests have to be met to qualify.
Any mitigation of the tax is welcome and I will be in touch again when more details are available.
Date: 31st October, 2007
Articles from this Author
12th October, 2017
Is investment in the UK still alive?
2nd May, 2017
UK Property – still the real deal?
17th June, 2016
Update on the Annual Tax on Enveloped Dwellings (ATED)
26th November, 2015
Property round-up - Autumn Statement
Contact a Private Client Partner
Our latest edition of UK Inward Investment - what are the opportunities for you, is out now bit.ly/2xB0cun click to read more
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole