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As foreshadowed in April 2020, the Government is set to bring in a “business continuity test” which will operate in conjunction with the existing shareholder continuity test in relation to the carry forward of tax losses.  Legislation will be introduced as a Supplementary Order Paper to the existing Tax Bill before Parliament.

The top tax rate is set to increase to 39% from 1 April 2021 and if you haven’t already, now is the time to start planning for its introduction. 

Find out more here.

The end of the financial year is fast approaching for most taxpayers and it is time once again to consider year end planning opportunities. 

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In this article we consider some frequently asked questions about the application of the bright-line rules.