Owner Managed Business


Following discussions between CIOT and HMRC over the last few months, HMRC have made some changes to their guidance in the Company Taxation Manual on the Targeted Anti-Avoidance Rule (TAAR) contained in s396B ITTOIA 2005.  

The CIOT response to the HMRC consulation document Allowing Entrepreneurs' Relief on gains before dilution.

The CIOT comments sent to HMRC on Review of the corporate intangible fixed assets regime.

The CIOT comments sent to HMT on Financing growth in innovative firms: Enterprise Investment Scheme knowledge-intensive fund.

The CIOT comments sent to HM Treasury on the call for evidence on Rent-a-room relief.

In partnership with Bloomberg BNA five leading CIOT members have written analyses of the measures in Autumn Budget 2017. Tina Riches of Smith and Williamson, Chair of CIOT's Owner Managed Business Sub-committee, looks at measures in the Budget that may impact on small businesses.

Further CIOT comments sent to HMRC on the legislation and guidance on distributions in a winding up (Finance Act 2016 Section 35 (ITTOIA 2005 sections 396B & 404A)).

Below are the briefings / submissions produced on the current Finance Bill by CIOT. Generally speaking documents were provided to Labour and SNP spokespeople as briefings but also made as formal submissions to the Public Bill Committee. 

The CIOT comments sent to HM Treasury on Financing Growth in innovative firms.

The CIOT Budget representation sent to HM Treasury on Simplifying the rules relating to the taxation of intangible assets.