Frequently used Bloomsbury content

The Corporate Insolvency and Governance Act 2020 (CIGA 2020) became law on 26 June 2020. It was enacted as a way of providing practical and financial assistance to companies experiencing financial difficulties as a result of coronavirus.

The latest update to Bloomsbury’s Accountants Legal Service provides practitioners with some useful guidance on what this may mean for clients they are advising.

• See Covid19 - temporary legislation (in Accountants' Legal Service)

First shared in Practicewire in November 2021

One of the consequences of divorces or a family breakdown is the sale of a matrimonial home to a third party. If the couple have owned or occupied more than one property the situation is even more complicated.

Bloomsbury Professional's Tax Planning guide contains invaluable advice for accountants looking to establish if the CGT main residence exemption will apply.

• See The matrimonial home and the CGT main residence exemption (in Tax Planning 2021/22)

First shared in Practicewire in November 2021

When considering whether a capital allowances claim can be made for plant and machinery, one of the conditions is that the claimant must be carrying out a ‘qualifying activity’. Bloomsbury Professional’s Capital Allowances Transactions and Planning title has some useful commentary and precedents covering this issue.

• See 14.103, Qualifying Activity (in Capital Allowances Transactions and Planning)

First shared in Practicewire in October 2021

HMRC have recently issued a new manual covering the tax treatment of cryptoassets. The recently updated A-Z of Business Tax Deductions has a new section covering this in the foreign exchange losses section.

• See B18.1.4 Cryptoassets (in A-Z of Business Tax Deductions)

First shared in Practicewire in September 2021

Do you have clients with rental property income? Understanding where tax relief may be claimed can be a time-consuming task.

Access the Buy to-Let Property Tax Handbook on the Bloomsbury Professional Core Accounting and Tax platform for some valuable time-saving guidance.

• See Appendix 'What expenses can be claimed for a buy-to-let property business?' (in the Buy to-Let Property Tax Handbook)

First shared in Practicewire in September 2021

EMI Share Option Schemes can be a very tax-efficient way for companies to incentivise their staff if they are introduced and managed properly.

The Government recently introduced a measure which means that until 5 April 2022, individuals who are furloughed or who have their working hours reduced below the current working time limit as a result of COVID-19 will retain access to the scheme’s advantages. This will apply to existing participants to EMI schemes and where new EMI share options are being granted.

Have you got clients who may benefit from introducing an EMI scheme? Rayney’s Tax Planning for Family and Owner-Managed Companies has some excellent guidance on EMI Schemes including a summary of the main conditions.

• See Enterprise Management Incentives (EMI) schemes (in Rayney's Tax Planning for Family and Owner-Managed Companies)

First shared in Practicewire in September 2021

Registered users can go directly to Bloomsbury Professional Online and use the ICAEW link to login.

If you are not registered, individuals in eligible firms can register for access online.

Who is eligible?

All staff and ACA students who work in an ICAEW firm which is part of the Practice Assurance scheme, and/or is regulated, supervised or authorised by ICAEW for one or more of the following:

• Audit
• DPB
• Probate
• Licensed Practitioner Scheme
• Insolvency
• AML.