Blog
Is there any certainty over our taxes in our changing world?
In his Spring Statement the Chancellor said the rejection of Theresa May's deal has left a cloud of uncertainty hanging over our economy; although he later went on to say the UK's economy has so far remained remarkably robust. An improvement in the public finances...
Selling a business, have you considered the tax implications?
Selling a business is probably the biggest transaction you will undertake during your life and most will expect to pay Capital Gains Tax (CGT) at the Entrepreneurs Relief (ER) rate of 10% Each sale is structured differently and the consideration could be in different...
Employee Share Schemes and Benefits
Share Schemes Employee shares schemes play an important role in incentivising and retaining valuable employees. Shares can be issued under a formal share scheme, which may be HMRC approved and benefit from tax advantages, or via a more formal arrangement. We can...
What is the difference between residency and domicile?
In today's global economy, individuals need to understand their exposure to UK tax and National Insurance as they come to or leave the UK, or divide their time between two (or more) jurisdictions. In establishing your exposure to UK tax, you need to consider your...
Changes to probate fees for 2019
Controversial fee increase set to take place from April 2019 From April 2019, some estates in England and Wales could be required to pay almost £6,000 for a service that currently costs less than 4% of that amount. This is because of a proposed change to the fees...
The House of Lords plea to defer MTD for VAT on 1 April has been rejected
Many small businesses have been hoping that HMRC would postpone or modify MTD for VAT; alas it is not to be. In 2015, HMRC set out their vision to modernise the tax system. This remains unchanged and MTD should make us more productive and efficient; but do HMRC...
The benefits of outsourcing payroll
Around 1.4 million businesses in the UK employed members of staff in 2018, and all of them shared one thing in common: the legal requirement to run payroll. Payroll management consumes a large amount of time each month, with multiple processes to complete in order to...
Update on Making Tax Digital for VAT
The vast majority of VAT registered businesses with turnover exceeding £85,000 should be ‘Making Tax Digital’ from 1 April 2019, despite a call from The House of Lords and professional bodies to postpone. MTD will apply from the first VAT period starting on or after 1...
HMRC Tax Investigations – why take the chance?
The risks of a tax investigation Will HMRC come knocking on your door? It’s a fact – humans are bad at assessing risk. We’re terrified of things that rarely happen (plane crashes, power station meltdowns) but we're relatively relaxed about things that are...
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