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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

Annual P11D returns explained

If you’re reading this article, then chances are you have at one time or another either received a P11D form from your employer, been responsible for preparing P11D’s for employees – or both. What are they? The P11D forms are formally described as covering the Return of Expenses… read more

EMI share options await EU state approval

EU State Aid approval for the Enterprise Management Incentive (EMI) scheme, expired on 6 April 2018. While the consensus is that it will be reinstated at some stage, businesses can not currently use the EMI scheme to issue share options to employees. Often used by smaller companies, EMI… read more

Generating Additional Income for Academy Schools

Academy trusts are facing a number of the same challenges as schools still under local authority control, with press reports of 60% of trusts warning that funding cuts and cost increases are driving cashflow and budget issues. Larger deficits are, in turn, putting pressure on pay, staffing and… read more

Is incorporation right for your business?

Whether to run your business as a sole trader, partnership or as a limited company is a dilemma that business owners have been wrestling with for years. While a range of factors can impact a decision on structuring a business, finance is often key. Here we consider the… read more

The Rise of the Silver Supporters

Financial support from grandparents to their families is increasingly needed just to keep them afloat according to recent research by The Scottish Widow’s Centre for the Modern Family: Individual grandparents give around £2,200 a year to support their families 85% did not make provision for these outgoings More… read more

Employers – are you ready for the new Auto Enrolment rate changes from April 2018?

Under auto enrolment rate changes beginning on 6 April 2018, employers may be required to increase the amount of their contributions into their automatic enrolment pension. From 6 April employers will have to contribute a minimum of 2% and staff members will have to make up the total to 5%.… read more

Property Tax Changes

Getting on the housing ladder used to be a realistic aspiration for young people, but growing affordability problems in the housing market are fast becoming a political hot potato, driving policy changes around property tax changes. Philip Hammond’s removal of stamp duty for first time buyers on properties… read more

What is the Trusts Registration Service?

The Trust Registration Service (TRS) provides an online route for trusts and complex estates, to comply with their registration obligations and to obtain their Self Assessment Unique Tax Reference. It replaces the current paper 41G(Trust) form and the ad hoc process for trustees to notify H M Revenue… read more

Corporation Tax Loss Relief changes kick in

When Corporation Tax Loss Relief changes came into force in April 2017, it wasn’t with a massive fanfare. However, as we now start to deal with accounting periods where the impacts can be felt, we are increasingly being asked by clients what this will mean to them. What… read more