P11D forms Employers have until 6 July 2018 to submit their annual P11D and P11D(b) forms to HM Revenue & Customs (HMRC) reporting relevant employee benefits and expenses for the 2017/18 tax year. The reporting of benefits and expenses for tax purposes can be complex, and recent tax changes have added to that complexity with […]
The Corporate Finance team are delighted to have been shortlisted for both the Deal of the Year and the SME Deal of the Year for the East Midlands Dealmakers Awards 2018. In the former category (deal values over £10m), our work with ENSEK’s Management team in their LDC-backed buy-out is one of seven deals shortlisted by Insider […]
A personal representative who transferred a deceased’s estate to a beneficiary who has apparently now vanished to Barbados has been told by the First-Tier Tribunal that he must pay a £341,278 inheritance tax bill that is due from the deceased’s estate. David Nash, Partner and Head of Legal Practice, said “This case is a reminder that […]
The 2018/19 tax year is now well underway. Below is a summary of some of the changes to tax allowances, to assist individuals to plan as the tax year progresses. Income tax The personal allowance has increased from £11,500 to £11,850. The basic rate band has increased from £33,500 to £34,500, giving a higher rate […]
IHT receipts hit a new record high of £5.3billion in 2017/18; a 13% increase on the £4.7billion collected in 2016/17. David Nash, Partner said “The continual increase in inheritance tax receipts is down to numerous factors, including the nil rate band being frozen since 2009, increasing residential property prices, and growth in asset values generally. […]
Where an employee or Director has received shares or share options in their employing company in the tax year to 5 April 2018 these will, in most cases, require reporting to HM Revenue & Customs by 6 July on a separate tax return. In addition to the acquisition of shares, the company must consider its […]
The Pensions Regulator has announced that it will prosecute a national recruitment firm, its directors and some of its senior staff on the suspicion that they illegally opted employees out of the company’s pension scheme. This is the first time that The Pensions Regulator has launched prosecutions for this offence, and a conviction carries a […]
HMRC has announced that EU state aid approval for the Enterprise Management Incentive (EMI) Scheme expired on 6 April 2018. The Government has been following the process of applying to the European Commission for fresh approval and the Commission’s final response is still awaited. EMI share options granted in the period from 7 April 2018 […]
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