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Autumn 2018 Budget Briefing

Tax Matters 30 October 2018

On 29 October, Philip Hammond presented his third Budget and what should be the last one before Brexit in March next year.  The Chancellor offered a budget that was more generous than expected.  The Budget also contained a number of announcements which will affect private individuals and businesses, and we have set out a summary of the key measures below.

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MAKING TAX DIGITAL FOR VAT PILOT OPEN FOR BUSINESS

Tax Matters 16 October 2018

On 16 October 2018, the HMRC has launched the “public beta” phase of the Making Tax Digital (MTD) VAT pilot. This marks a significant milestone for tax administration.

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Tax Reliefs for Creative Sector after Brexit

Tax Matters 2 November 2018

New Regulations were made last month to ensure that the production costs of films, TV programmes and video games that are culturally British will continue to qualify once the UK leaves the EU. The new Regulations also ensure that British production staff would continue to be recognised as qualifying production personnel for tax relief purposes.

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Accounting for Personal Service CompanieS

Accounting Matters 14 September 2018

The Finance Act 2017 introduced reforms to how the off-payroll rules operate in the public sector. Tax aside, how would this change affect the accounting requirements of the Personal Service Companies?

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ORDINARY FAMILIES HIT BY INHERITANCE TAX

Tax Matters 25 October 2018

Many ordinary families in the South West region have been hard hit by the inheritance tax (IHT). On average those liable for IHT in London paid over £390,000 each. This is partly because of the soaring property prices in the recent year, and IHT is no longer a tax on the wealthy.

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