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Blog26th Sep 2023
Would you be ready if HMRC lodged a formal enquiry into your Income Tax Return?
A tax enquiry is the process by which HMRC check in detail that the information on a tax return is correct and complete. HMRC have the right to make a formal enquiry into every tax return submitted to them. This…
By Seamus McElvanna
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Blog14th Sep 2023
What are Family Investment Companies?
In recent years, “Family Investment Companies” (FICs) have become more widely used in family tax planning exercises. However, they are not a new structure by any means – our oldest FIC client is over 100 years old! They are setup…
By Emily Robson and Steve Roberts
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Blog12th Sep 2023
Are Inheritance Tax Rules Changing?
Could we soon see Inheritance Tax changes? It has been reported that the Government is considering scrapping Inheritance Tax (IHT) in advance of the upcoming general election. IHT is a controversial and generally unpopular tax, which has been labelled as…
By Jill Walker
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Blog5th Sep 2023
Cruising around the world – can it really reduce your tax bill?
The post-COVID world looks very different for many workers. Many are now choosing to work not just from home instead of the office, but in some cases, an entirely different country. Most are searching for a better work/life balance, escaping…
By Lynn Gracie
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Blog28th Aug 2023
What is a Payment on Account?
Unlike the PAYE system, when you start working as a sole trader or have a new untaxed source of income (e.g. rental income, dividend income) you won’t pay tax as money comes in. Instead, your first tax bill is likely…
By Helen Furniss
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Blog17th Aug 2023
VAT- A Guide For Sole Traders
When many people think of VAT, they think of the extra charge on clothes, petrol and everyday items. However, those that are self-employed and/or run a business, may be required to get involved with VAT more than they would otherwise…
By Helen Furniss and Alistair Duncan
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Blog11th Aug 2023
HMRC Targeting Airbnb Landlords
The way in which we’re able to generate multiple streams of income from property ownership has changed. With platforms such as Airbnb, Booking.com and Cool Stays, landlords are turning to short-term let properties as a source of income and seeing…
By Natalie Butler and Jen Kinnear
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Blog7th Aug 2023
Inheritance Tax – Could your estate be exposed?
Many more ordinary people are becoming liable to Inheritance Tax (IHT) who may not have before. In this blog we’ll be looking at what IHT is, why the rise is occurring and how we can help you mitigate your IHT…
By Tracy Dickson
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Blog3rd Aug 2023
What is Non-UK Residence and How Could It Affect You?
The default position is that UK Tax residence results in UK tax exposure on worldwide income and gains, no matter where they are held. UK Tax Residents, who are also non UK Domiciled (Domicile has a common law application and…
By Lynn Gracie
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Blog1st Aug 2023
Pandora Papers opens HMRC Offshore Tax Pandora’s Box
The recently published Pandora Papers put offshore tax in the headlines once again. If you have undeclared offshore income or gains, it is important to act now. The Pandora Papers are thought to contain the names of over 750,000 companies…
By Seamus McElvanna
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Blog25th Jul 2023
Cryptocurrency- From Anonymity to Accountability
Did you know that HMRC (HM Revenue & Customs) have the power to request data from cryptoasset exchanges? Many are still largely unaware that this power has been in place for years and indeed HMRC have already used it to…
By Lynn Gracie
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Blog6th Jul 2023
What Is A Furnished Holiday Let?
Furnished Holiday Lets (FHL) are becoming more and more popular in the UK, particularly in Scotland, with holidaymakers’ desires for a ‘staycation’ only increasing. But are you aware that these properties come with a different set of tax rules compared…
By Jen Kinnear
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