Brought to you by the Wolters Kluwer in-house team of tax writers, the Budget Insight 2016 report provides free, expert commentary on the recent UK Budget proposals. Including useful links and tables, it is written to help you assess the impact of the Budget proposals on your own or your clients’ businesses and tax liabilities, so that you can confidently offer advice

Gill Tallon, partner and private client specialist at Mercer & Hole, examines the impact of the surprise reduction in capital gains tax (CGT) rates in Budget 2016, considering options for investors to review their tax liability, plus the impact on distributions from offshore trusts

There is good news for classic car owners in this year’s Budget, as the government is to introduce legislation to put the exemption from Vehicle Excise Duty (VED) for older cars on a permanent basis, so that from 1 April each year vehicles constructed more than 40 years before the 1 January of that year will automatically be exempt from paying the tax

Due to recent changes to the large company research and development (R&D) tax relief scheme, the government has been forced to issue revised rules for small to medium sized companies (SMEs) claiming R&D tax relief to ensure the scheme falls within EU state aid rules

In a bid to encourage investment in start-ups and entrepreneurs, the government removed some barriers to the use of entrepreneurs’ relief making it easier for business owners to pass on companies and farms to family members, and created a long-term £10m lifetime limit for investors

Chancellor George Osborne has pulled a rabbit out of the hat by announcing a new ‘sugar tax’ in his eighth Budget today, saying that excessive sugar consumption was associated with growing health problems costing the economy an estimated £27bn a year but consumers will not be hit initially

Finance Bill 2016 is set to introduce an option for farmers to average their trading profits over a five-year period and to simplify the existing two-year averaging rules by removing marginal relief. Meg Wilson considers the tax implications 

Peter Rayney FCA CTA explores how the new dividend regime coming into force in April will affect tax liability with tips and advice for owner managers in light of the introduction of a fixed £5,000 annual dividend allowance this year

Changes to the tax regime for banks mean that the six largest retail banks will continue to pay higher effective rates of tax, estimated at around 20% to 25% of profits in 2016, while new entrants and building societies are likely to pay around 6%, according to analysis by the Competition and Markets Authority (CMA)

The UK is ranked number two in the world in the latest KPMG survey into global business tax competitiveness, vying with Ireland for the top tax spot in terms of multinationals' perception of favourable tax jurisdictions and location for foreign direct investment, according to a KPMG poll of over 100 of the largest UK listed companies and foreign owned subsidiaries

A tax avoidance scheme used by Stagecoach Group to cut their tax bill by £11m has been stopped in its tracks according to a First Tier Tribunal (FTT) relating to a tax case heard last July, reports Sara White

In the move to a purely digital tax environment for businesses, HMRC has released a YouTube video outlining how digital tax accounts will work when they are introduced for all small to medium sized businesses from April 2018