Latest blogs for Specialisms
In a recent tax tribunal test case, relating to the well-known actor Robert Glenister, HMRC were challenged as to whether the IR35 intermediary tax rules should apply to an actor earning his living through a personal service company. As is typical with individuals providing their personal services through an intermediary company, Mr Glenister…
R&D tax relief, to provide government subsidies to those companies that develop innovation products, services or systems, has been with us for 17 years now. The latest HMRC R&D tax relief take-up report, encouragingly, shows that the following recent improvements to the scheme have increased the amount of tax relief claimed by 22% over the…
Companies that are developing innovative new products, services or systems have long understood the generosity of the R&D tax relief rules. These give a notional 130% uplift to eligible costs in the company’s corporation tax computation. Such eligible costs include ‘employee costs’, which hitherto has included all ‘reimbursed expenses’. This has always seemed overly generous…
A parent with spare funds to invest may like to consider purchasing a property for their student son or daughter to live in whilst at university, in order to save on student accommodation costs. We recently advised a client that, so long as their son or daughter lives in the property as his…
Whiting & Partners, The Corporate Finance Network’s representative firm in Suffolk, has successfully advised an IT security company on its sale to a larger industry player. The vendors had originally acquired the business via a Management Buy-Out a few years earlier and had significantly grown the business under their ownership. The company had reached…
Our Property Investors Group have recently updated our ‘A brief guide to…’ documents which are now ready for you to download on our Property sector webpage. They give help and support with various property related queries relating to stamp duty land tax, treatment of furnished holiday lets and tax for non-resident landlords, for…
HMRC have a Let Property Campaign to try to encourage landlords who have not previously declared their taxable income and gains to come forward as soon as possible, in order to bring their tax affairs up to date. The let property campaign is aimed at individual landlords with residential property in the UK or…
A new service is now available for individuals who want to limit the contact they receive from charities. The Fundraising Preference Service (FPS) should give individuals greater control over how and when charities can contact them. The FPS, which launched on 6 July, allows individuals to select charities that they no longer want to…
Following the announcement to cut tax relief for landlords from April 2017, setting up a limited company to purchase investment properties has been suggested as one way to ease the burden of tax. Whilst the legal transaction is essentially the same whether an individual or a company is purchasing the buy- to- let properties, there…
Many organisations across 150 countries, including our own NHS, have been hit by a recent ransomware attack. The vulnerabilities exploited by the hackers are the same for charities, individuals and public or private sector businesses. The Charity Commission is encouraging charities to follow protection advice released by the City of London Police and the National…