Sinclair Day

October 31, 2018

Autumn Budget 2018 – VAT registration and deregistration thresholds

The Chancellor confirmed in his Budget speech that the taxable turnover threshold that determines whether businesses should be registered for VAT, will be frozen at £85,000 for a further 2 years from 1 April 2020 until 31 March 2022. The taxable
October 31, 2018

Autumn Budget 2018 – Private Residence Relief

As a general rule, there is no Capital Gains Tax (CGT) on a property which has been used wholly as a main family residence. This relief from CGT is commonly known as Private Residence Relief. Conversely, an investment property that has never been
October 31, 2018

Autumn Budget 2018 – Annual Investment Allowance

The Chancellor’s announcement of a temporary five-fold increase in the Annual Investment Allowance (AIA) will be welcomed by many small and medium sized businesses looking to incur significant capital expenditure on plant and machinery. The Annual
October 31, 2018

Autumn Budget 2018 – Minimum wage increases

The Chancellor used his Budget speech to confirm that increased National Minimum Wage (NMW) and National Living Wage (NLW) rates are due to come into effect on 1 April 2019. The NLW first came into effect on 1 April 2016, and is the minimum hourly