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Useful commentary and time-saving guidance in popular Bloomsbury Professional titles, as recently featured in Practicewire. Eligible firms have free access to Bloomsbury's comprehensive online library.

Covid-19 temporary legislation

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.

First shared in Practicewire in November 2021

The matrimonial home and the CGT main residence exemption

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.

First shared in Practicewire in November 2021

Capital allowances and qualifying activity

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.

First shared in Practicewire in October 2021

Tax treatment of cryptoassets

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.

First shared in Practicewire in September 2021

Buy-to-let property tax relief

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.

First shared in Practicewire in September 2021

Enterprise Management Incentives (EMI) share option schemes

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.

First shared in Practicewire in September 2021

Accessing the Core Accounting and Tax Service

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.

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