Cogital, which stated its aim to challenge the Big Four when it launched last year, has made its first purchase under the Blick Rothenberg name.
'The Government is sending a strong signal,' said Helena Kanczula, director at Blick Rothenberg. 'The challenge will be over whether the collection of tax can be administered properly and it is unclear just how HMRC will engage international business to respond to the withholding requirements.'
Source: World Sports Law Report
A spokesperson for tax advisers Blick Rothenberg added, 'The cost…will be felt only when a property company sells its property. If it does not sell, then losing the indexation allowance becomes irrelevant.
'Property company shareholders will act rationally. In deciding whether or not to sell property they will take into account their post-tax gains. If those net gains reduce over time because tax increases, companies may remain locked into property more than they otherwise would.'
Source: FT Adviser
Nimesh Shah, a partner at accountants Blick Rothenberg, said, 'The £350 increase in the income tax allowance is overshadowed by the £400 rise in the CGT annual exemption. The latter is worth £80 to a higher rate taxpayer, while the former is worth £70 or £1.35 per week for a basic rate taxpayer.'
Source: The Sunday Times
Nimesh Shah, partner at Blick Rothenberg, warns: “Watch out, joint buyers: both need to be first-time buyers to qualify for the stamp duty cut. If one has previously had an interest in a property, they will not be eligible.”
He also gave his expert analysis:
In a move to support British tech businesses, the Budget announced reforms to rules governing Enterprise Investment Schemes and Venture Capital Trusts to encourage more private investment in high-growth innovative firms.
From April 6 2018, an individual investor could enjoy up to £600,000 of tax relief a year through the doubling of the current limits. While this is a welcome measure, the chancellor could have done more by increasing the associated tax relief to 45 per cent (from the current level of 30 per cent).
The amount of available cash in the private sector is higher than ever, especially following recent restrictions to the amount a person can contribute to their pension, and introducing a higher associated tax relief could have resulted in even more investment.
On the flip side, to protect founders of businesses taking on additional investment in their companies, the government will consult on a proposal to allow business owners to continue to qualify for the 10 per cent entrepreneurs’ relief rate, even where their shareholdings fall below the 5 per cent threshold because of dilution through external investment. Another welcome proposal to support Britain’s entrepreneurs.
Source: Financial Times
Jonathan Barratt, private client assistant at Blick Rothenberg, states that 100% LTV mortgages would enable first time buyers to leap from rented accommodation to their own home, with only stamp duty and legal costs to be concerned about.
Source: Beacon Financial Training
Gary Gardner, partner at Blick Rothenberg, said: ‘We know that with HMRC, mistakes are made and the incorrect code is often allocated. These policies can often be a one-way street.
'I hope that if officials are able to quickly take from employees they will return the favour. If their calculations cause someone to overpay, they should just as quickly put that right.’
Source: Mail Online
The group, chaired by former Deloitte chief executive John Connelly, was launched as a merger between Baldwins, Blick Rothenberg and Nordic firm Visma at the end of last year.
Caroline Le Jeune, partner at Blick Rothenberg, said: this loophole could make shared ownership less attractive to first-time buyers.
She added: "The new relief is going to be difficult to apply to shared ownership situations – but it seems apparent that the relief for first time buyers will have hidden pitfalls and may not be as generous as initial first impressions would suggest."
Source: The Telegraph
Alan Pearce, VAT Partner at Blick Rothenberg, said: "This change will make the recipient of taxable construction services liable for the VAT that the supplier would otherwise have charged. Such a regime has worked well in other areas and not only protects government revenues from fraud but makes administration and cash flow easier for businesses."
Source: CCH Daily