Welcome to the second edition of our Real Estate and Construction newsletter. In it we look at a range of accounting and business advisory issues affecting the sector. I hope you will enjoy reading the newsletter. Please get in touch with any comments or questions you might have.
In this issue
Outlook 2011
A look at how we expect the economy in 2011 to affect UK industry, including the property and construction sectors, please follow the links below
VAT - Capital Goods and Option to Tax (OTT)
There are important changes to consider that take effect this year.
Government spending cuts
There still remains uncertainty around the public sector cuts and in particular how they might affect businesses. Without doubt the biggest challenge facing the construction industry is to remain on an even keel while the public sector cuts depress growth within the sector.
Financial Reporting Standards
The latest on the proposed changes to financial reporting standards for small and medium sized enterprises (FRSME).
Finance Bill changes to Capital Gains Tax
The Finance Bill 2011 introduces new rules which will allow a trade to be hived down to newly formed subsidiary as a preliminary step to a sale of the shares without triggering a degrouping charge when the company leaves the vendor group.
HMRC's aggressive approach to employment status issues
Businesses often prefer using self-employed workers rather than employees, particularly in the construction industry. Read the latest on HMRC's aggressive approach to employment status issues.