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Springing 'simplification' out of the blue is not helpful or practical for many clients, says BRIAN PALMER
KEY POINTS
- A problem for businesses which charge their company rent
- The effect of the new capital gains tax regime on small businesses
- Simplicity but not at any price
I am sure I am not the only one this side of 6 April reflecting on the fact that I am now going to have to do some damage limitation namely to repair damage to my clients' tax affairs that was not of my making.
Towards the end of January I breathed a sigh of relief when the new entrepreneurs' relief was first announced as I thought it would restore to most of my clients with business assets an effective 10% rate of tax arising on the disposal of their business interests.
However had I foreseen the other issue before the flurry of planning I had to perform...
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