11 Jul 2018
The Finance Bill 2018-19 draft legislation was published on 6 July 2018. The Bill which runs to 226 pages (with a further 143 pages of explanatory notes) contains the legislation for many of the tax measures that had previously been announced by the government as well as new initiatives.
The publication of the draft Finance Bill is in line with the approach to tax policy where the government committed to publishing most tax legislation in draft for technical consultation before the legislation is laid before Parliament.
The Bill is open for comment until 31 August 2018 and the draft legislation is subject to change. The final Finance Bill will be published shortly after Budget 2018 which is expected to take place in November this year. The Bill, colloquially known as Finance Bill 2018-19, will become Finance Act 2019 after Royal Assent is received.
Supporting documentation for 33 separate measures have been published. This includes changes to rent-a-room relief, simplification of donor rules for Gift Aid, Corporation Tax reform of loss relief rules, changes to the VAT grouping eligibility requirements and a new points-based penalty regime for certain regular tax filings.
Commenting on the publication of the draft Finance Bill, Mel Stride, Financial Secretary to the Treasury, said:
'Britain is one of the best places in the world to do business, and we’re determined to see that continue. This legislation illustrates our commitment to creating an environment in which innovation and enterprise can thrive, while ensuring that everyone plays by the same rules.'
Vada Studios is a very successful music recording facility. The business had outgrown their existing premises, and had a vision to create one of the top residential recording studios in the UK.
A highly successful restaurant, butcher and retail business.
GJA have been the retained accountants for this property investment and development group for over 20 years. Imminently due to dissolve companies.
Proco approached us with an idea of becoming a distributor of a high-end product in the UK, supplying vinyl nationally.
In 2008 Tom Floate left his employer to set up his own business providing website services. Initially forming a partnership with his wife Rachel, they began trading IO Studios from their home office.
Barry the Butcher is a very successful wholesale butchery and retail business.
Chris works with a diverse profile of owner managed businesses to assist them to grow and retain wealth. Although Chris works with clients from a wide range of sectors, he has particular expertise in property, catering, consultancy and professional services.
Managing Director ACMA
Alex has worked for Grenfell James since 2002 and became a director in 2013. Overseeing our internal operations, he manages the flow of work and ensures we hit our strict deadlines. Alex also manages a portfolio of clients, with expertise in manufacturing and service businesses.
Operational Director MAAT
David has worked for Grenfell James since 2006. He heads up our tax team and is highly experienced with expertise in different industries and sectors.
Tax Director ACCA
Hannah qualified in 2016, having worked for the company since 2009. She acts as a client manager for a range of businesses, with expert knowledge of the equestrian and rural sector. Hannah also manages our payroll team.
Client Manager ACCA
Regent Square Estates
NPD Design Consultants Ltd
Mckechnies independent tea and coffee bar.
Mr I Cameron
Proco Coatings & Laminates
Paul Stanley. A S Contracts Ltd.
Dean. Wootton IT
Mr J McCarthy
Andrew Knight. The Howard Arms Ilmington
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