Gifting by grandparents – school fees

In this podcast, we examine how grandparents can help to fund school fees and note the relevant tax implications. In particular, we explore inheritance tax and what qualifies as a potentially exempt transfer (PET), while also looking at the use of trusts and the main things to consider. We additionally highlight some general top tips. […]

Divorce and tax

In this podcast, Leonora Stevens, Mike Hodges and Jason Lane discuss the relevant tax matters and considerations when going through a divorce. This includes looking at the type of divorce, and how the tax year of separation can impact the transferring of assets such as properties and investment portfolios. We also examine common tax complexities […]

Basis period reform will impact business income tax self-assessment

In the 2021 Autumn Budget, the government confirmed their plans for basis period reform which will change the rules that decide when income is taxed for businesses, including the self-employed, partnerships and trusts. The tax year runs to 5 April every year, and for those who draw up their accounts to this date or to […]

Real Estate Sentiment Index 2023

We have published our second annual Real Estate Sentiment Index, obtaining the views and insights of approximately 100 business leaders, investors and professional advisers in the real estate sector, spread across every region of the UK. In addition, we interviewed three high-profile key decision makers in the industry, to get their current views of the […]

Independent schools – the risks to their tax status

Since 2017 there has been an ongoing challenge to the tax status of independent schools as part of several political manifestos. The threat comprises of two aspects. Firstly, the loss of charitable tax reliefs for independent schools, and secondly, the removal of the VAT exemption on school fees. In this article, we explore the potential […]

R&D tax credits – changes

The development of science, technology and new thinking in industry is encouraged through a programme of tax credits for qualifying research and development (R&D) activities for limited companies. The schemes are under continuous review and significant changes will be introduced from April 2023 and beyond. Companies should carefully consider whether their activities qualify for valuable […]

VAT and input tax recovery – a legal sector case outcome

A recent Tribunal case involving a legal partnership provides caution about how the transactional nature of VAT can lead to problems when structuring agreements in the commercial world. There is a basic premise that VAT incurred on purchases is only recoverable to the extent that it is used in the making of taxable supplies by […]

Returning to the UK – the tax implications

In our latest podcast, Leonora Stevens, Mike Hodges and Alexandra Britton-Davis discuss the tax matters for those thinking of returning to the UK. They highlight: The importance of considering the date of return; What to do if you find yourself in a period of cross-over in respect of dual residency; and The temporary non-resident rules […]

Spring Budget 2023 and the rural sector

Today’s Spring Budget had to be one to stimulate the economy, drive down inflation and bring people back into the workforce, but what has it been from the perspective of rural and farming businesses? By and large, some of the announcements are very welcome, some are a setback, and there are some missed opportunities. What […]

R&D tax credit – regime changes

New proposals to reform the UK’s research and development (R&D) tax credit regime will allow more costs to qualify for the valuable tax relief but will also target perceived abuse of the system. Once enacted, the proposals will take effect for accounting periods commencing on or after 1 April 2023. Click here for full details on […]