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AAT states inheritance tax is ‘unnecessarily complicated’

The Association of Accounting Technicians (AAT) has stated that inheritance tax (IHT) is ‘unnecessarily complicated’ and ‘widely misunderstood’. Responding to a review of the tax by the Office of Tax Simplification (OTS), the AAT said that several IHT exemptions ‘could be scrapped’. It argues that certain exemptions, such… read more

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OTS publishes review into simplifying the taxation of savings income

The Office of Tax Simplification (OTS) recently published a detailed review into the taxation of savings income. The OTS’s stated aim was to review the application of the tax system to savings and investment income, and highlight ways in which any ‘real complexities’ can be removed. Within the… read more

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Business group warns UK small firms ‘unprepared for business interruption’

The Federation of Small Businesses (FSB) has warned that the majority of UK small firms are ‘unprepared’ for the risk of disruption to the business posed by both internal and external threats. Data published by the FSB revealed that 65% of small businesses do not currently have any… read more

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Business urges government to reform Apprenticeship Levy

In response to the publication of official apprenticeship statistics, business groups have urged the government to reform the Apprenticeship Levy. The organisations, including the Confederation of British Industry (CBI), the Institute of Directors (IoD) and the Federation of Small Businesses (FSB) have called on the government to reform… read more

Why should you make a Will?

Nearly 60% of UK adults do not have a valid Will. If you die without a valid Will in place your estate passes in accordance with the intestacy rules. So why should you make a Will? The main reason to make a Will is to ensure that your… read more

Seven Principles of Charity Governance Code

In July 2017 the Charity Governance Code Steering Group issued the ‘Charity Governance Code’, intended for use by charities and other not-for-profit organisations that deliver a public or community benefit. While it is not a legal or regularity requirement, it does set out principles and recommended practice for… read more

What you need to know about Defined Benefit Pension Transfers

If you have a Defined Benefit Pension, then you are almost certainly aware that the pension flexibilities introduced in 2015 and, in some cases, enhanced transfer values have made the option of transferring out of your Defined Benefit scheme very attractive – and there are plenty of companies… read more

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Rawlinsons team support Volunteering Week for local charities

Over 270 volunteering hours have been donated by the team from city accountancy firm Rawlinsons, who were given the opportunity to take a paid day out of the office to help local charities as part of the company’s commitment to community volunteering. A number of projects at chosen… read more

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Rawlinsons conference tackles hot topics facing city charities

Hot topics – including GDPR and digital media – facing charities around the city have been tackled at the annual Rawlinsons’ annual charity conference. The full-day event, now in its eighth year, has continued to grow in popularity; with around 150 delegates attending the event at the Kingsgate… read more

Inheritance Tax Simplification

Inheritance Tax – a brief history Dating back to the 17th century, a tax on death has long been unpopular. The tax has existed in many forms since then, for example: The legacy tax of 1780 The 1796 tax on estates (introduced to fund the war against Napoleon)… read more