Insights

As at 1 April 2023 the corporation tax main rate will increase to 25% applying to taxable profits over £250,000, with a small profits rate of 19% for companies with […]

Part 3 of the Criminal Finances Act 2017 was introduced to stop bosses claiming ignorance of their employees’ actions when it comes to helping clients evade tax.  The tax evasion […]

It can be difficult for business owners to know where to start regarding share incentive plans. Plans that reward employees in a flexible way can be a tax-efficient means of […]

Due to take effect from 1 April 2022, HMRC have published a policy paper detailing how businesses can prepare.  Primary legislation is currently before Parliament.   Who is affected? The tax […]

Working from home has become more and more common in the current climate. Companies have had to implement flexible working regimes between the office and home working.  This new style […]

The super-deduction will be an enhanced capital allowance that provides a new temporary first year allowance on certain qualifying expenditure. Unlike with the existing Annual Investment Allowance (which is restricted […]

Super Deductions Allowance and Special Rate Allowance – 1 April 2021 to 31 March 2023 On 3 March 2021 the Government published draft legislation introducing the new temporary “super deductions […]

On 3 March 2021, the chancellor delivered one of the most highly anticipated budgets in recent memory. The vast majority sectors have been negatively impacted by Covid-19 in the last […]

How can Partners Expenses be relieved? It has been HMRC’s longstanding practice to accept that such expenses are deductible for tax purposes if they are incurred wholly and exclusively for […]

Since 2016/17, in order for relief to be available to partners, each and every individual partner will need to make their own Gift Aid declaration for all donations. Each declaration […]

The Mixed Membership Partnership legislation applies to partnerships or UK LLPs whose membership includes both individuals and members who are not individuals. The Mixed Member Partnership legislation applies to prevent […]

The underlying rule is that expenses must be ‘wholly and exclusively’ for the purpose of your trade and evidence must be available should HMRC request it.  Such expenses are generally included within […]

There are a number of key tax and legal differences to consider when your status changes from that of an employee to becoming a partner in a partnership. The following […]