The Beyond Compliance Journal
Blog for ambitious
businesses across the UK and internationally.
Practical guides, tax updates, and strategic thinking from the Brookwood team — written for business owners who want to go beyond compliance.
Navigating The Pitfalls Of Overdrawn Directors’ Loan Accounts And Illegal Dividends
Business owners have been through hell in the last few years. From Covid, working from home, lack of supply of materials, inflation and huge interest rate hikes. This is topped off by increasing corporation tax rates and loans no business owner wanted in the first place, but still need to be repaid.
Fighting Crime At Companies House
Investigation, enforcement and data sharing. Keys to solving crime. New filing requirements at Companies House
Inheritance Tax 2024
IHT Thresholds will remain in place until 2030
2024 Capital Gains Tax
Instead of increasing the residential property tax rates, the Chancellor opted instead to increase the main rates of CGT – the lower rate will rise from 10% to 18% and the higher rate will rise from 20% to 24%. The changes take effect from 30 October 2024. There are no changes to the residential tax rates, which remain at 18% and 24%. The rates continue at this level for 2025-26. The increases in the main rates of CGT means that this tax is charged at the same rates (18% or 24%) regardless of nature of the assets disposed. PLANNING NOTE: Landlords will be relieved that the higher residential rate will remain at 24% until at least 5 April 2026. However, where a landlord is planning to sell, it may be prudent to do so while the 24% rate remains available, as beyond April 2026 nothing is guaranteed. If you are considering disposals of assets affected by CGT please call so we can consider your options.
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