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The Covid-19 pandemic impacts every business, even the best-run and longest-established. Managing risk and cash flow in these uncertain times is critical.
There are a range of support measures available to the self-employed and this Briefing sets out guidance on some of the many questions you are likely to have. Although this is uncharted territory we highlight some basic management strategies.
Guiding you through the latest issues in payroll practice, tax and employment law.
Making the right decisions for your business motoring means juggling different choices and different sets of tax rules. What's more important? Petrol or diesel? Cash or car? From 2020 there is more to juggle.
In this briefing we look at some of the proposals set out by The Office of Tax Simplification.
The responsibilities imposed on directors have probably never been greater, so our briefing discusses the importance of minimising risk.
A worrying number of people are being paid less than the minimum wage according to a report from the Low Pay Commission published recently.
The introduction of a new capital allowance, the Structures and Buildings Allowance, in the last Budget adds a new element to the capital allowances landscape.
A must read for all employers as this briefing covers types of employment status, employment law v tax law, the difference between employees and workers, employed or self employed, IR35 regime and forthcoming legislative changes.
Our Employer Update reviews key areas in payroll practice and employment law.
This Briefing is designed to help business owners take stock of where they are now and to provide guidance on how to successfully approach longer-term aims.
Making Tax Digital for VAT (MTDfV) brings mandatory new requirements from April 2019. But the change isn't just about VAT. MTD affects the way that businesses keep records and the whole process of VAT return submission. This Briefing will help you plan fo
Entrepreneurs' Relief (ER) is a significant tax relief available on the disposal of a business. Modifications introduced by Budget 2018 mean even closer attention to the rules will be needed to ensure eligibility. The focus in this Briefing is the company
Cyber security is an increasing problem for business, and in this briefing, we review areas where many businesses leave themselves open to attack and other topics.
VAT can seem daunting to the smaller business, not least because of a strict penalty regime. But a good grasp of the basics can help reduce errors and minimise the risk of penalties. This Briefing offers guidance in a number of key areas.
Key areas in employment law and payroll practice are reviewed in this Update. We also provide clarification of the latest government timetable for developments in rapidly-changing areas such as the new Tax-Free Childcare scheme and National Minimum Wage e
The legal and administrative responsibilities involved in running a company are considerable, whether carried out by a company secretary, or another designated officer of the company. This Briefing provides an up to date overview of the duties involved.
There have been many changes to the proposed roll-out of Making Tax Digital (MTD) and the briefing sets out the position to date. Of particular note for business clients, draft secondary legislation for the MTD VAT regime was published before Christmas.
Recent and prospective changes to dividend and savings regimes may have an impact on methods of withdrawing profits. Here we consider the effect of such regimes and illustrate how employer pension contributions offer tax advantages.
The new IHT relief has finally come into effect and we explain the potential effect so that you consider whether you need to amend you will.
The new tax year brings lots of changes, including updates to pension auto enrolment, tax free childcare schemes, personal service companies and the government's plans to target salary sacrifice arrangements. Lots of changes for employers ahead!
We consider the tax reliefs available for business cars and the tax consequences for the directors and employees driving the cars. We also review the various financing arrangements and capital allowances tax reliefs available.
Now is an ideal time to turn your mind to a review of your personal and business tax strategies and our guide includes many tax efficient tips you may wish to consider.
The issue of the tax deductibility of travel expenses is complex. Our briefing consider the rules and includes examples to illustrate the potential pitfalls.
HMRC have issues six consultations detailing plans to modernise the administration of tax. All taxpayers will be affected and we will keep you updated with progress of the government's proposals.
This briefing details the tax issues that surround loans to director-shareholders and loans from director-shareholders to their companies.
Buy to let landlords of UK residential properties have been bombarded with tax changes in the last year. As a consequence many will need to rethink their broad and detailed tax strategies on their investments.
A new exemption regime for certain employee expenses replaces the need to report some items on P11ds.
New dividends and savings allowances have been introduced together with new rates of taxation on dividends.
Our briefing explains additional exemptions, new exceptions to tax charges and the introduction of 'residence nil rate band' in April 2017 which potentially affect the IHT plans of many individuals.
Our update considers a new NI rate for apprentices, tax codes, changes to benefits and expenses. Additionally we cover auto enrolment and clarify some points about the use of 'postponement'.
The government is actively encouraging smaller and medium sized companies to invest in R&D. We summarise R&D tax reliefs and the relevant qualifying conditions.
The 90% of UK companies that qualify as micro-entities have a new reporting route available to them in the guise of FRS 105. This new regime offers significant simplification in recognition, measurement, disclosure and filing requirements.
The recent changes in the rules for accessing money purchase pensions and the treatment of funds remaining on death has sparked increased interest in pension fund provision. We consider relief and tax to ensure tax efficiency is obtained.
Capital gains tax entrepreneurs' relief has been around for many years, however, it appears that HMRC ae now taking a more active interest in claims & some rules have been amended.
Operating a business tax efficiently is a major consideration to all those in business - the choice may have a substantial impact on the level of reliefs, allowances and tax levied on your business.
We consider which employees to enrol into a pension scheme and the automatic enrolment obligations for director only companies and how we can help you with your obligations.
We summarise the implications of a high profile Employment Appeal Tribunal decision on holiday pay and the introduction of Shared Parental Leave and Pay, and remind you of penalties re RTI.
The start of 2015 heralds the most significant changes ever made to Company Accounting in the UK. We explain the impact of these changes and offer you the opportunity to discuss the effect on your business and advise you on appropriate actions.
Following the Budget announcement of what has been described as the most radical change to pensions, we consider the proposals which aim to bring significant flexibility into the pension system.
In this briefing we consider the tax incentives available to a qualifying investor of making and realising an investment in one of the available schemes.
In 2014 tax benefits have increased for amateur sports clubs. This briefing considers changes to the existing benefits, gift aid and the eligibility conditions.
When planning to minimise tax liabilities by becoming a non UK resident, care needs to be taken to avoid the pitfalls. Our briefing considers the key issues involved in tax planning for non UK residents.
We consider the key questions which employers will need to get ready for auto enrolment including the start date, assessing the workforce, likely costs and what you need to tell employees.
We consider the key issues involved in minimising capital taxes when passing on the family business or company. A key practical issue is to ensure that tax saving opportunities are maxmimised by securing the reliefs available.
The acquisition and letting of property is popular. here we consider recent developments as well as a reminder of established principles affecting the income position for individuals and companies. We also consider the capital taxes aspect.
RTI is the most radical change to payroll procedures since PAYE. We consider developments for 2014/15 including the new penalty regime. We also look at changes to the benefits in kind system and what you should expect to see in your PAYE tax code.
Understanding the current tax position of business motoring is a core requirement for business.
Here we explore the tax implications of shareholders borrowing from or lending to their owner managed business.
This briefing considers topical mattes which may affect your personal tax position and the potential opportunities available to mitigate your tax liabilities in the current tax year and beyond.
Key elements for the new Cash Basis alternative for the smaller self-employed business is summarised in this briefing.
Here we consider key duties you as an employer face in getting ready for implementation and the contributions level required.
This briefing will help you to consider key capital tax aspects of succession planning for your owner managed family business.
RTI is the most radical change to payroll procedures since PAYE. Our briefing provides you with an overview to the new rules along with practical summaries.
The 'high income' Child Benefit charge is set to come into effect from January 2013 and the Government estimate it will impact on 1.2 million families. Our briefing provides a clear and concise summary of what you need to know about the impending charge.
This briefing aims to highlight the key areas to consider so that we can help you maximise reliefs. Specifically it includes: what business activities and expenditure qualify; the allowances available; late claims; and recent developments on fixtures.
There are many issues for the owner managed business company. Our briefing considers the tax and other considerations of both dividends and loans and helps avoid pitfalls whilst extracting profits efficiently.
This briefing focuses on practical tax matters and tax saving tips for the smaller company. It highlights the issues which need to be considered to ensure that owners maximise the return on their investment of both time and money.
The period leading up to the end of the tax year on 5 April is one of the best times to review your taxes and finances. Here is a summary of the more important year end tax tips to help you identify areas that should be considered.
Every year there is more red tape for employers to comply with. Read our overview of recent developments and topical issues here.
New relief to be introduced from 6 April 2012. The aim of SEIS is to encourage individuals to invest in small companies by providing income and capital gains tax (CGT) incentives. Read our article to learn about the two key incentives on offer.
Our briefing provides a useful summary of the tax treatment of Furnished Holiday Lettings (FHL) now that various changes are finally law in Finance Act 2011.
This briefing considers recent developments and announcements in the core area of plant and machinery capital allowances including the important forthcoming changes for 2012.
Travelling and subsistence expenditure incurred by the self-employed or by employees can give rise to many problems. Our briefing highlights the main areas to consider in deciding whether tax relief is available on these expenses.
The period leading up to the end of the tax year on 5 April is one of the best times to review your taxes and finances. Here is a summary of the more important year end tax tips to help you identify areas that should be considered.
Our briefing focuses on VAT matters of relevance to the smaller business. It highlights common risk areas to give you a better understanding that will hopefully contribute to a reduction of errors thereby minimising penalties.
Every year there is more red tape for employers to comply with. It is written to provide employers with a practical summary of recent and forthcoming changes. The focus is on the key areas that may have an impact on your business and any associated costs
The period leading up to the end of the tax year on 5 April is one of the best times for you to review your personal tax position and take action to maximise tax saving opportunities and minimise liabilities.