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Keep up to date with our latest Industry Insights
With so many changes happening in our day-to-day lives, it’s comforting to know you can turn to a valuable resource to keep you updated on all the things which may affect your business.
Election results: What does it mean for the UK tax system?
The election results are in and the Labour party won the country’s mandate to form a new parliament. A recurring topic of discussion and disagreement in the run up to the election was that of tax,
Land sale – The Tax Implications of Selling to a Developer
If you are considering a land sale to a property developer, there are several tax considerations as well as prior structure planning involved.
How to reduce your estate for Inheritance Tax without having to wait for 7 years
A lot of clients come to me to find out how they can reduce their estate to avoid IHT and there is a simple short answer:
irrevocably give assets away (so that you no longer receive any benefit whatsoever) and survive for 7 years after you have given them away (or the value comes back into your estate).
Will a Labour government mean changes to taxation?
I am increasingly being questioned by clients on what the likely taxation impact of a new Labour government is if they win the next General Election and whether they should make changes now.
Well let’s look at what has been said, the party has ruled out increasing rates of income tax, NI, corporation tax and VAT stating they have “no plans” for further tax increases and that the party’s plans requires no additional tax to be raised.
Why tax planning advice is key for agricultural business
Farming and rural businesses often have specialist needs particularly if there is a generational change or sale of the farm.
In practice they are complex businesses and must be properly managed by an experienced accountant who understands their sector. Offering an explanation on the need for planning advice can often be the key to in depth conversations that uncover future taxation issues and help them plan ahead.
New economic crime legislation
The Economic Crime and Corporate Transparency Act 2023 (ECCTA) contains a new groundbreaking measure: ‘the Failure to Prevent Economic Crime” criminal offence which will render large companies liable for fraud committed by their employees where the fraud was committed with the intention of benefitting the organisation or those to whom it provides services.
Global Mobility – What are the tax implications
Hybrid working, working from home or even working from a location outside the UK – these working arrangements are more common now than ever before for employees of businesses based in the UK.
Companies House reforms – increase to filing charges
Companies House have been given new powers to make the UK a more transparent place for businesses to operate. With these powers, Companies House plan to make changes in several areas.
How do I pay less Tax?
This could be one of the most frequently asked questions that accountants receive, from individuals and business owners. The answer really lies understanding how to minimise your tax liabilities.
Spring Budget 2024 – Impact on the Agricultural Sector
The Spring budget did contain a few announcements which will impact the agricultural sector and consideration should be given to whether action is taken now.
Spring Budget Summary 2024
Following the 2024 Budget, three key announcements that will be important to any tax payers falling in the following groups:
Anyone who lets a holiday cottage
Property developers/investors and
Non UK Domiciled individuals
Multiple Dwellings Relief – Spring Budget Update 2024
This stamp duty land tax relief is to be abolished with effect for transactions with an effective date on or after 1 June 2024. Transitional rules mean that MDR can still be claimed for contracts which are exchanged on or before 6 March 2024, regardless of when completion takes place
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