This content is no longer in use on TolleyGuidance
This content is no longer in use on TolleyGuidance

The following Owner-Managed Businesses guidance note Produced by Tolley provides comprehensive and up to date tax information covering:

  • Weekly tax highlights ― 23 August 2021
  • Administration
  • Digital tax reform: professional bodies urge caution
  • HMRC updated guidance: managing agent authorisations online
  • Direct taxes
  • Large businesses: update on HMRC's uncertain tax treatment guidance
  • HMRC publishes Managing Pension Schemes Service Newsletter for August 2021
  • Indirect taxes
  • Partial Exemption Special Method (VAT Notice 706)
  • Safety and security (S&S) requirements for imports and exports
  • More...
This content is no longer in use on TolleyGuidance

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Partial exemption de minimis limit

This guidance note provides an overview of the partial exemption de minimis rules. This note should be read in conjunction with the Partial exemption overview guidance note. If a business incurs an insignificant amount of input tax which is associated with exempt supplies (exempt input tax), it may

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Deferral of capital gains via reinvestment

Why defer a gain?An individual’s net taxable income and chargeable gains for the tax year influence the rate of tax payable on their capital gains. See the Introduction to capital gains tax guidance note.Depending on the nature of the asset disposed of, this can result in the individual paying

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Pilot trusts and Will planning

A ‘pilot trust’ is one that holds a nominal amount of property (typically a small sum of cash) and does not become active until further funds are added later. The later addition is sometimes made on the client’s death by a gift in his Will. The use of pilot trusts in conjunction with Wills became a

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