Bounce Back and CBILS Loans

Are you worried or struggling to repay a Bounce back or CBILS loan? It seems a fair while ago since lockdown and the immediate consequences of those times. The effects though are still prevalent in the business world, with many businesses now facing difficulties in making repayments on Government support loans taken out in the […]

HMRC Preferential Status Restored

The status of HM Revenue & Customs as a preferential creditor has now been restored following legislation enacted in the Finance Bill 2020. This particular aspect of the Finance Bill became effective from 1 December 2020. For many years prior to this, HMRC had simply been ranked as an ordinary unsecured creditor, ranking equally with […]

Briefing Note Entrepreneurs’ Relief

Entrepreneur’s Relief Entrepreneur’s Relief is an important issue when considering instigating a Member’s Voluntary Liquidation to extract shareholder funds from a limited company in a tax efficient manner. Prior to 2020, the amount that you could claim under Entrepreneur’s Relief was capped at £10 million. This though was reduced in March 2020 to a maximum […]

Important Changes to Tax Legislation Regarding Entrepreneurs’ Relief..

In yet another attempt by the Government to increase its revenues, the latest scheme being promoted is a change in tax rules concerning the availability of Entrepreneurs’ relief, which many tax experts believe will be effective from 6 April 2016. The trend of tackling tax avoidance schemes seems to be a continuing theme with new […]