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
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
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
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
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
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
Have you considered employing family members in your business? As long as they are not minor and you can justify their involvement, you can employ them in your business. In a limited company, they can be remunerated with a salary, receive benefits, and be included in your company… read more
The UK inheritance tax (IHT) system has changed considerably since its introduction, and previous rises in residential property prices have resulted in the number of people who may fall within the scope of this tax increasing over time. IHT is currently charged at 40% on the proportion of… read more
In March 2018, the government published the Value Added Tax (Amendment) Regulations 2018, which set out the requirements under Making Tax Digital for VAT (MTD for VAT). The new regulations are set to take effect from 1 April 2019, and will apply to businesses which have a taxable… read more
On 4 April this year, HMRC announced that the tax benefits of options granted under an EMI scheme would be put on hold temporarily as the necessary EU State Aid had expired. Under this guidance, any EMI options granted after 6 April 2018 could not be guaranteed to… read more