Changes you need to be aware of in 2019
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Are you ready for Brexit?
A Brexit deal has been agreed in principle with the EU.
Both the UK and the EU need to approve and sign the withdrawal agreement.
If the withdrawal agreement is not signed by the UK and the EU, the UK could still leave with no deal on 31 October 2019. Find out what you, your family, or your business should do if the UK leaves the EU with no deal.
VAT reverse charge for construction services - DELAY FOR 12 MONTHS
Industry representatives have raised concerns that some businesses in the construction sector are not ready to implement the VAT domestic reverse charge for building and construction on 1 October 2019.
In order to give more time to prepare, the introduction of the reverse charge has been delayed for a period of 12 months until 1 October 2020.
Proposed Rise in Probate Fees Scrapped
The Government has reversed its decision to change probate fees, which would have seen some bereaved families pay almost £6,000 in additional costs.
At the end of 2018, the Government announced plans to alter the charging structure for probate fees in England and Wales, which are paid when administering someone's estate after they die. It said it would replace the current flat fee, now £215, with a sliding scale, meaning larger estates would have been charged higher fees.
Capital Gains Tax (CGT) – Private Residence Relief
HMRC have published responses to the consultation, ‘Capital Gains Tax: Private Residence Relief: changes to the ancillary reliefs’ together with draft legislation as part of Finance Bill 2020.
The draft legislation proposes changes to the Private Residence Relief (PRR) rules for disposals on or after 6 April 2020.
Changes to SRA Accounts Rules from 25 November 2019
Historically the Solicitors Regulation Authority (SRA) Accounts Rules have comprised of a large number of very specific and prescriptive rules governing how law firms deal with client money. All firms, large or small, who hold client money have had to comply with these rules with no real scope to adapt them to suit their individual practice.
Autumn Charity Newsletter
Our Charity News includes useful guidance on reserves, risk including cyber breaches and the first digital code of practice. We also consider the impact of conflicts of interest, related parties and non-charitable connections and other pertinent issues giving you the inside track on the sector's current hot topics and latest guidance
