Chancellor Rishi Sunak has delivered his Spring Statement against a backdrop of rising fuel, energy and food costs. We’ve summarised the headline announcements below: Other notable points included the Chancellor’s intent to explore ideas around education and training, increasing capital investment and boosting innovation, as well as there being no delay in the NI increase […]
The transaction has been finalised and the business has been sold. With a large amount of cash now in your possession, what are your next steps? There are vast options to consider here and it will depend predominantly on your own circumstances. For instance, you may feel now is the time to fully retire and […]
Chancellor Rishi Sunak has delivered the Autumn Budget 2021. In this summary we provide some details of the tax changes announced that will be of interest to owner-managed businesses, entrepreneurs and private clients. We hope you enjoy reading this and if you would like to discuss anything within your own context further, please do not […]
The Office of Tax Simplification (OTS) has conducted an extensive review of capital gains tax and has now published its findings and recommendations. The OTS is an independent adviser to the Government on the UK tax system; its role to offer recommendations and advice on making the UK tax system simpler. In July 2020 the […]
“If at first you don’t succeed, try and try again!” – one of those great motivational quotes, never more appropriate than when dealing with HMRC. Over the years, across our 25+ strong tax team, we have had a great deal of success in handling enquiries, disputes, or drawn out investigations with HMRC. The most recent […]
HM Revenue & Customs (HMRC) will no longer accept payment of inheritance tax (IHT) by cheque, and will not issue repayments by cheque any longer. The change in approach has been prompted by coronavirus but appears to be a permanent change. In order to receive a repayment, payee details must be sent to HMRC in […]
We have a great deal of experience in assisting clients in securing funding, and are currently working hard to help businesses to access the various Government schemes. Please click here to read our summary of help available to you.
Chancellor Rishi Sunak has delivered his first Budget with “Getting it done” the message the Government clearly wanted to get across. In this Spring Budget 2020 summary we provide some details of the tax changes announced that will be of interest to owner managed businesses, entrepreneurs and private clients. We hope you enjoy reading this, […]
The use of Family Investment Companies (FIC) has come under investigation by a small ‘secret’ HMRC team known as the FICs Unit. The unit was launched in April 2019, with the purpose of investigating the use of family investment companies by the very wealthy to avoid paying inheritance tax. A FIC can be used as […]
If you are in the process of completing your 2018-2019 self-assessment tax return over the next few days (deadline Friday 31 January), don’t forget to declare your pension contributions. Taxpayers routinely omit vital pensions data from their tax returns, forfeiting valuable tax relief or underpaying tax. Higher-rate taxpayers are most likely to miss out. If […]
