Friday, 15 November 2019

UK farming and subsidies: a kiwi comparison (part one)

Laurie Hill discusses UK farming subsidies, and compares the tough economic pressures facing farmers in the UK to the difficulties faced by New Zealand farmers when they lost their subsidies in the 1980s. 


Thursday, 14 November 2019

Wills and probate: a recent lesson

It was worrying to read recently that Lloyds Bank has discovered thousands of customers’ wills stored in its ‘safe custody’ service, which was closed to new customers in 2011. This situation is a good reminder to anyone making a will or who already has a will.  Read on for advice on avoiding the pitfalls.


Tuesday, 05 November 2019

What are the major parties’ tax policies?

Sajid Javid had intended to deliver his first Budget on 6 November 2019, but, with a general election now looming, this has been delayed, probably into the new year. If he does get the opportunity to deliver his post-Brexit Budget, he will set out the plan to shape the economy for the future and trigger the start of our infrastructure revolution.


Friday, 25 October 2019

Land and property: who owns what?

Most landowners know exactly what the family owns, including the finer details of boundaries, tenancies and history. However, they may be less clear about exactly who owns which property and what’s on the business balance sheet. It’s not uncommon for someone to think they own land, when in fact it’s still held in the names of grandparents’ executors, or for them to think it’s owned jointly with a spouse when that’s not the case.


Friday, 18 October 2019

New SRA Accounts Rules

Our recent blogs have discussed the new SRA rules, to be implemented from 25 November. As the date is creeping ever closer, let’s consider them once again.


Tuesday, 08 October 2019

VAT planning for Brexit

With the continued uncertainty surrounding Brexit, we’ve spoken to businesses with a wide range of approaches towards no-deal Brexit planning. As a result, we’ve outlined a number of simple and no-lose steps that businesses can take to make sure they have an idea of the potential impact of Brexit from a VAT and duty perspective.


Wednesday, 02 October 2019

Making Tax Digital

We’re now well into the new regime for Making Tax Digital for VAT registered businesses over £85,000 (the current registration limit). The problems and chaos predicted didn’t come to much and HMRC even relaxed some of the rules for filing VAT. 


Thursday, 26 September 2019

SRA Accounts Rules 2019 – The practical bit

Following on from Richard’s previous blog, what do the new Solicitors Regulation Authority (SRA) Accounts Rules mean for you in practice?


Friday, 13 September 2019

HMRC Announce 12 month delay to introduction of the Domestic Reverse Charge for VAT

On Friday 6 September, HMRC issued Revenue and Customs Brief 10 (2019) announcing that the introduction of the Domestic Reverse Charge for construction services will be delayed for a period of 12 months, until 1 October 2020.

With just weeks to go to the introduction, HMRC have now responded to the concerns raised by industry representatives around the impact of the new measures.


Wednesday, 11 September 2019

BLOG - Top 10 benefits of a management buy-out over a trade sale

An MBO, or management buy-out, occurs when a business is sold to its existing management team. A trade sale is when a business is sold to another, often competing, business. In this blog I explain some key benefits of an MBO.


Monday, 09 September 2019

HMRC Preferential Status

On Budget day, all eyes are typically focused on potential tax increases, the state of play of UK finances and whether there will be a rabbit pulled from the hat which shocks and surprises us all.


Thursday, 29 August 2019

Research and Development tax credit – the highest gross margin project you’ll undertake?

There’s a common misconception that your company has to be involved in rocket science to be eligible for Research and Development (R&D) tax credit


Tuesday, 06 August 2019

Countryside Productivity Small Grants Scheme closes 3 September

The second round of the Countryside Productivity Small Grants Scheme, administered by the Rural Payments Agency (RPA), opened for applications on 9 July 2019. 


Monday, 05 August 2019

A new deal for tourism

Despite Brexit and the process of electing a new Prime Minister, the Government does seem to be getting some useful business done, although perhaps a bit under the radar. An example is the UK’s first ever tourism sector deal.


Wednesday, 31 July 2019

The challenges of VAT in motor retail

Motor retail is one of the more challenging sectors to operate in from a VAT perspective.


Wednesday, 31 July 2019

VAT recovery on investment management costs, not just an issue for charities.

In a long running battle, the University of Cambridge has challenged the way HM Revenue & Customs’ recovers VAT on investment funds of donations and endowments.  The University claimed that they should be able to claim back a proportion of the VAT because the investment returns were used to support wider business activities.


Thursday, 25 July 2019

The Tax Gap is increasing – what does this mean for you?

HMRC’s latest statistics reveal that taxpayers underpaid £7.4bn in tax last year, up 10% from £6.7bn in 2016/17. This represents 21% of the total UK Tax Gap last year (£35bn), which is an increase from 20% in 2016/17 (£33bn).


Wednesday, 17 July 2019

IR35 and workers who provide their services through companies etc

Whilst much noise has, and continues to be made about the proposed changes to IR35, which will take effect in relation to services provided to medium and large businesses in the private sector from April 2020 (draft legislation was issued last week), it largely falls on deaf ears within government.


Thursday, 11 July 2019

New pricing transparency rules for solicitors – are you complying?

New rules on pricing transparency for solicitors came into force on 6 December 2018. The rules require solicitors to publish their pricing and service information on their websites about certain legal services. 


Thursday, 11 July 2019

Saving inheritance tax by gifting: Potentially Exempt Transfers

The rules about PETs are a bit more complicated but, in summary, to be free of inheritance tax you need to survive the gift by at least seven years; although what’s known as taper relief arises after year three.


Wednesday, 10 July 2019

Capital Gains Tax reporting: another crackdown on buy-to-let landlords?

Last month we looked at the example of Mrs Lambert, who sold her residence and realised a capital gain. At present her tax bill is £1,400 but HMRC are consulting on changes to a valuable relief that would see her tax charge increase to £14,700 if she sells the property on or after 6 April 2020


Friday, 05 July 2019

Inheritance tax and pension changes for women

How can you mitigate potential inheritance tax liabilities? Do the recent pension changes for women affect you?


Friday, 28 June 2019

Trust Registration – The Latest Developments

Have you ever heard the saying, “Put not your trust in money but put your money in trust”? Actually, this advice is urging nineteenth century heiresses to protect their wealth, which would otherwise pass to their husbands, when they married


Friday, 28 June 2019

Save inheritance tax by making gifts

In my recent inheritance tax blog I commented on the need for a valid will. A will directs the distribution of your estate, but how can you save inheritance tax?


Wednesday, 19 June 2019

Insolvency Q&A part five: creditors

Welcome to the fifth and final part of our five part insolvency blog covering the most frequently asked questions around insolvency and liquidation.


Friday, 07 June 2019

Do you have offshore assets?

We are living in changing times in the tax world. Following the reporting of several high profile cases in the press, tax planning that was once considered unexceptional is now seen as morally unacceptable tax avoidance. The spotlight has turned on those with offshore assets so, if this applies to you or you are either non-resident or non-domiciled and have an interest in an offshore trust, read on.


Thursday, 06 June 2019

BLOG - Top 10 differences between the sale of company shares v business assets

If a business is operated through a limited company, there are two different approaches for a sale. Either the shares of the company are sold by the shareholders (referred to as a “share sale”), or the company sells its trade and assets, and the shareholders are left to liquidate the company and distribute the proceeds between themselves (referred to as an “asset sale”)


Wednesday, 05 June 2019

Tourism, Leisure and Hospitality Business Survey results

The results of Larking Gowen’s fourteenth Tourism, Leisure and Hospitality Business Survey have just been published. High on the list of challenges was the weather in 2018! The weather played a big part in the trading results for a lot of tourism, leisure and hospitality businesses in the eastern region. 


Wednesday, 29 May 2019

Changes to residence relief and letting relief

In a recent blog I highlighted how the Government is trying to crack down on tax relief for buy-to-let landlords. Now I’ll consider how the proposed new property tax changes regarding residence relief and letting relief will affect some property owners.


Tuesday, 28 May 2019

Insolvency Q&A part four: employees

Welcome to part four of our five part insolvency blog covering the most frequently asked questions around insolvency and liquidation. Part four will cover the most frequently asked insolvency questions by employees.


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