Private Client Commentary


Personal tax highlights


Capital Gains Tax (“CGT”): With an unexpected reduction in the rate of CGT in three weeks’ time – can you postpone the sale of your asset? Changes to Entrepreneurs’ Relief… As ever, the devil is in the detail… And in the small print there is a development for non-doms.

Allowances: The highly anticipated increase to the basic rate threshold coupled with a further increase to the personal allowance will take people earning under £45,000 out of the higher rate of taxation.
ISAs: As promised, the Chancellor did not proceed with pension reforms but aims to encourage those under 40 to start saving with the introduction of a new flexible Lifetime ISA.

Loans to shareholders: Tax on loans to shareholders from their companies will increase from 25% to 32.5%.

Stamp Duty Land Tax (“SDLT”) on commercial property: Increase in SDLT for purchases over £1.05m.



Full Private Client Report



Corporate commentary


Corporate tax highlights

The main highlight was the unexpected cut to corporation tax, which is further reduced to 17% with effect from 1 April 2020 – which means the UK continues to be attractive to multinational businesses.
Other points of note include:



the opportunity to offset carried forward losses, although there are restrictions for larger companies;
the package of measures aimed at tackling VAT evasion by overseas sellers in online marketplaces; and
changes to the rate of Stamp Duty Land Tax (“SDLT”) on non-residential property.


Full Corporate Client Report



Tax For Web


Full Tax For Web Report











Event Calendar

September 2017
Mon Tue Wed Thu Fri Sat Sun
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
No Image
09:30
A Câmara de Comércio Luso-Britânica promove o evento “Lift Off – Entrepreneurs Launch Workshop”, que terá lugar em Braga, no dia 19 de Setembro, nas recuperadas instalações da GNR [...]
Already registered: 2
Date :  Tuesday, 19 September 2017
20
21
22
23
24
25
26
27
28
29
30
No Image
08:30
Mais informação por email para h.fernandes@bpcc.pt ou Efetue o download do Programa e Ficha de Inscrição  
Date :  Saturday, 30 September 2017

Featured Member

Useful Information

Copyright 2014 - British-Portuguese Chamber of Commerce, Portugal | Desenvolvido por microeuropa 2014