NEWSLETTER – FEBRUARY 2020
Hi all and welcome back to Obp’s February newsletter!
We’d like to say a huge thanks to all of our clients who have worked with us to get their tax returns done by the 31st January. For those who haven’t yet done this, please get in contact with us and we can provide you with some support.
Due to December and January being extremely busy for us, we’ve taken a break from social media – a good cleanse of the soul. Our content so far this year has been positively received, and our readers have found that our articles & blogs have been informative on both a personal and business level. We’ll be continuing to provide everyone with weekly news roundups on our wesbite, and if you want to read this week’s edition please click here.
One of our most recent articles has been feaured in this month’s edition of South Wales Life Magazine, which is written by one of our dear clients Mr Henry Peters. Please click here to find this month’s edition, of which we are featured on page 58. If you want any more information, or you want to contact Henry, please do so at email@example.com.
Loan Charge Payments Deferred
In September 2019, the government commissioned Sir Amyas Morse to conduct an independent review of the loan change (the review). The review was published on 20 December 2019 along with the government’s response, which confirmed that it would accept all but one of the review’s recommendations.
The main change is that the government has agreed to defer the loan charge repayment date to September 2020.Broadly, the ‘loan charge’ is a charge to tax on employees and traders who were paid via disguised remuneration loan arrangements in order to minimise liability to tax and NICs. In general terms….
CGT on Cryptoassets
Cryptoassets are a relatively new type of asset that have become more prevalent in recent years. New technology has led to cryptoassets being created in a wide range of forms and for various different uses.
Cryptoassets (or ‘cryptocurrency’ as they are also known) are cryptographically secured digital representations of value or contractual rights that can be:
–> traded electronically
While all cryptoassets use some form of Distributed Ledger Technology (DLT) not all applications of DLT involve cryptoassets.
HMRC do not consider cryptoassets to be currency or money. They have identified three types of cryptoassets…
Is it Mind over Matter?
Business isn’t all about number crunching, software and spreadsheets. At Obp, we also ensure that mental health and dealing with stress is high on the agenda of work too. Please take a look at Georgia’s blog which highlights the importance of managing the mind and how this allows us to perform better in stressful circumstances.
If you would like further information about any of the services we provide, or if you know anyone who needs any of our services, please get in touch for an informal chat to see how we can help. 0292167655 or .
Many thanks and have a lovely February!