The CIOT and ATT have considered FB 2018-19 consultative clause 15 Entrepreneurs’ Relief (company ceasing to be individual’s personal company, inserting new Chapter 3A in Part 5 TCGA 1992) and some aspects of the consultation response .
The CIOT has submitted comments on the very significant changes proposed to bring gains on interests in UK land by non-UK residents into charge to capital gains tax and the draft provisions in FB 2018–19 and some aspects of the government’s consultation response.
The ATT and CIOT have responded to an HMRC consultation on the requirement for individuals and trustees to make a payment on account of CGT on the disposal of a residential property. The payment on account, together with a payment on account return, will be required within 30 days of completion.
The CIOT and ATT have responded to the HMT and HMRC consultation on changes to Entrepreneurs’ Relief intended to ensure that entrepreneurs are not discouraged from seeking finance to enable their companies to grow.