< 1 minute to read In the light of latest government advice on the coronavirus outbreak, we would like to reassure our clients that our offices remain open and our staff and partners are on hand to provide all our usual services. We are making some adjustments to our normal working practices, such as arranging for staff to work from …
Continue reading "Coronavirus Covid19"
2 minutes to read Following Chancellor Rishi Sunak’s Budget announcement yesterday, we’ve highlighted the key changes that will impact on small and medium businesses and their owners. For SMEs (meaning businesses with 250 or fewer staff), the cost of Statutory Sick Pay will be refunded in full for 14 days if employees are off work because of coronavirus. Meanwhile, …
Continue reading "Budget 2020 Comment"
2 minutes to read A new law, in force since 1st January 2020, requires UK suppliers to Europe to produce a written statement to accompany the dispatch of goods to the EU. Amidst the post-General Election news and Brexit commentary, these changes may have slipped under the radar for many. We have outlined the requirements readers may not be aware …
Continue reading "EU chain transactions and zero-rated goods: the VAT changes you need to know about"
2 minutes to read With 2019 being the first year in over a century without
2 minutes to read Following the government’s announcement of a 6.2% rise in the National Living Wage (NLW) from 1st April, employers are facing the question of how best to adjust their overheads in order to manage the increase. We have examined the potential benefits of the NLW raise for employers as well as their employees, and have put forward …
Continue reading "Advice for employers following landmark Minimum Wage increase"
3 minutes to read Whilst high-profile prenuptial agreements are never far from the headlines, other forms of relationship agreement – post-nups and living together agreements, for instance – are less known options that may be overlooked by individuals. We have joined forces with leading law firm Shakespeare Martineau LLP to examine the different relationship scenarios that may benefit from …
Continue reading "Knowing your nuptial agreements: what works for whom, and why"
9 minutes to read In a world where even investors lack a precise understanding of cryptocurrencies, Jacquelyn Kimber attempts to make sense of the taxation of cryptoassets. What is the issue? HMRC’s promised further guidance on the taxation of cryptoassets for businesses and companies, due in ‘early 2019’, has not yet been published. What does it mean to me? …
Continue reading "Shedding light on a murky world"
2 minutes to read With the 11th March budget looming, speculation is rife that Entrepreneurs’ Relief (ER) is to be curtailed or even abolished. Introduced over a decade ago, ER allows eligible business owners pay capital gains tax at a reduced rate of 10% when they sell / exit their business, rather than the usual rate of 20%. Up to …
Continue reading "The end of the road for Entrepreneurs’ Relief?"
2 minutes to read From 1st April 2020, HMRC’s Making Tax Digital (MTD) for VAT one-year “soft landing” period for digital links will be coming to an end, meaning businesses with turnovers above the VAT threshold will no longer be permitted to “copy and paste” or manually transfer data from different elements of their accounting systems. With instances coming to …
Continue reading "Caution for businesses as MTD for VAT “soft landing” period comes to an end"
9 minutes to read What is the issue? Since 6 April 2017, inheritance tax has become relevant to owners of UK residential property, irrespective of domicile and residence. Outside the realm of residential property, this complex tax can produce some surprising results. What does it mean to me? Trustees of excluded property trusts are now within the scope of …
Continue reading "IHT traps, Jacquelyn Kimber examines the new rules for residential property and also points out some traps and anomalies in the Business Property Relief rules."
