Blog23rd Jul 2024HMRC Disclosures- Prompted vs Unprompted And Why Does It MatterWhen it comes to completing Tax Returns, mistakes can and do happen. According to HMRC, this is especially the case with certain types of income, for example overseas or self-employed sources. Not just mistakes either, but a simple lack of…By Seamus McElvannaView more
Blog22nd Jul 20245 Benefits of Family Investment CompaniesIn 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 – in fact our oldest FIC client is over 100 years old! FICs…By Tom AndrewView more
Blog16th Jul 2024Will a 4 year tax residence amnesty attract Overseas Investors to help Labour’s plans for Economic Growth?Labour may look to introduce a 4 year tax residence amnesty to attract overseas investors to help them with their plans for economic growth. So, what does that mean? Foreign Investors – Who, what and where One of the recognised…By Lynn Gracie and Carol EdwardsView more
Blog8th Jul 2024What 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 to fall…By Bev HolroydView more
Blog5th Jul 2024What does this historic election result mean for UK taxpayers?The result of the 2024 General Election will come as no surprise to pollsters, with Labour securing 412 seats – a landslide majority ending 14 years of Conservative rule. Inevitably taxpayers will be considering how this sweeping change in the…By Paula Fraser and Blair HayView more
Blog26th Jun 2024Income Tax Returns: 5 Key Reasons You Should Submit EarlyIt is rare to find someone who looks forward to completing and filing their Income Tax Returns. For many, and for various reasons, it is usually something they put off for as long as possible. The final submission deadline…By Natalie ButlerView more
Blog18th Jun 2024Taxing Times In The Election CampaignLast week marked a key milestone in the race for Number 10, with many of the major political parties releasing their manifestos for the next term of Government. Each of the parties’ fiscal projections includes plans for various tax rises…By Blair HayView more
Blog7th Jun 2024Keeping a Cool Head During Election Fever Will Pay DividendsPoliticians up and down the land are currently pounding the campaign trail, following the Prime Minister’s shock announcement of a General Election of 4th July. The sense of impending change is inevitably unsettling for many, particularly as the election of…By Paula Fraser and Blair HayView more
Blog30th May 2024High Income Child Benefit Charge: What Are The Changes?Touted as a victory for thousands of UK families, the rules on the High Income Child Benefit Charge (HICBC) have been updated. This blog outlines the changes below and explains how this may affect you. what were the High-Income Child…By Tracy DicksonView more
Blog26th Apr 2024Non-Dom Tax Changes – Navigating The ‘Tax Twilight’ ZoneUpdated: 3rd June Rarely has the concept of non-UK domicile status and its impact on how an individual is subject to tax in the UK been in the headlines so much as in recent years. This is in part due…By Gunhild DamView more
Blog6th Apr 2024Are The Goalposts On Salaried Member Rules Moving?What are salaried member rules? The salaried member rules for Limited Liability Partnerships (“LLPs”) were introduced in 2014 to ensure only those members who held a genuine ‘partner’ role were taxed as self-employed individuals, such that those with arrangements closer…By Jill WalkerView more
Blog3rd Apr 2024Navigate the End of the ‘Furnished Holiday Let’The number of Furnished Holiday Lets (FHLs) in the UK has increased in recent years, driven by the ever-growing popularity of UK ‘staycations’. However, Jeremy Hunt announced in the 2024 Spring Budget that the Furnished Holiday Letting regime will be…By Carol EdwardsView more