Blog29th Jul 2024HMRC Nudge Letter Campaign Targets Persons with Significant ControlAs part of the latest HM Revenue & Customs (‘HMRC’) nudge letter campaign, HMRC have once again cross-referenced Companies House records to Self-Assessment Tax Returns and are writing to anyone they believe to be a Person with Significant Control (‘PSCs’) asking them…By Michaela McCombieView more
Blog26th Jul 2024Will You Be Caught By HMRC Trying To Bridge A £40 Billion Tax Gap?Whether it’s a knock on the door, a phone call or a letter with the tell-tale HMRC logo, there’s little that will strike more fear into the heart of any individual or business owner than an unexpected enquiry from HM…By Stuart PetrieView more
Blog25th Jul 2024A Guide to Understanding Norwegian Tax Assessment NoticesFollowing submission of a 2023 Norwegian tax return for individuals under the general taxation scheme once processed by Skatteetaten (the Norwegian tax office), a Tax Assessment Notice (TAN) will be issued showing the final position for the year. The Norwegian…By Carol SimView more
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
Blog17th Jul 2024USALI in Hotel Accounting: What is new in Edition 12?Last week marked the publication of the 12th edition of the Uniform System of Accounts for the Lodging Industry (USALI). In this blog, we’ll look at what changes were made, and how they could affect you and your hotel business.…By J’aininne SinclairView 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
Blog25th Jun 2024Non-Doms Election Uncertainty: What Will The 4th July Hold?Our previous articles connected to the Conservative Government’s 2024 Spring budget, outlined the proposed changes for Non-Doms and new residents in the UK. These articles highlighted existing questions around the timing of implementation and in particular the lack of clarity…By Lynn GracieView 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