The simple answer is Yes. HMRC, you could say, were ahead of the curve when it came to giving advice around buying and selling bitcoin, with a brief released in 2014, which will likely cover the majority of questions you have. […]
Do you own a buy-to-let or an investment residential property? If so, are you aware of the payment changes coming into force very soon in the next tax year, on 5 April 2020, which directly impacts capital gains tax due on your property disposal? Read on to learn what you need to do now to avoid unnecessary penalties. It is important that you work closely with an accountant to understand [...]
The rise of property prices across the UK has lead to an increase in the number of people being caught out with a large Inheritance Tax liability hanging over their heads. If you are looking to safeguard your hard earned wealth for your children and future generations, you will need a basic understanding of how the Inheritance Tax (IHT) rules could affect you. IHT is often viewed as a tax [...]
When people think of research and development (R&D), they often picture large corporations or specialist science or tech companies. This perhaps explains why, despite the Government’s efforts to encourage innovation for small and medium sized businesses through the introduction of R&D tax credits, only one in five businesses have claimed money back for their time developing new products or processes. One of the main reasons why the numbers for R&D [...]
A question we hear often when meeting with small businesses who want to establish a relationship with us is this: 'How do we switch accountants? Where do we begin?' and 'It's too difficult, I don't have the time right now'. We also hear of many reasons from prospective clients on why they may be considering switching accountants. It may be because they are not receiving the service they would like [...]
Mr Hammond has certainly been applauded in most quarters for his one Budget a year plan and subsequent less fiddling with the tax system, and the Spring Budget tomorrow is expected to be a brief affair, with only a few expected consultations on tax reforms. Indeed, Hammond has already advised that he “won’t be making tax or spending announcements” on the BBC over the weekend, but it will be a time nevertheless to [...]
Jeremy Corbyn is favourite to become the UK’s Prime Minister at the next general election. High net worth individuals and small and medium enterprises should now seriously start to position themselves for the possibility of a Labour government in 2018 or 19 with higher taxation on the cards. With Labour’s unexpected retaliation at the snap general election last June leaving the Conservatives serving with a minority government, an error of [...]
After the extraordinary results of the General Election earlier in the year and the publication of not one but two Finance Bills thereafter, the legislation affecting the taxation of non-UK domiciled individuals came into effect. Although there were calls for these rules to be delayed, the publication of the second Finance Bill confirmed that the Government’s project to reform the tax rules for non-UK domiciled individuals ("non-doms") were implemented on 6th April [...]
The days of running your business from a spreadsheet are numbered. The long nights of worry and stress, as you simply cannot guess what might happen next, a thing of the past. In this blog we give you just a few of the many reasons why forecasting is critical for your business to succeed. Be Confident Forecasting is generated from your numbers, what better place to start thinking about your [...]