2023 challenges for charities: from cyber fraud to wage increases

In this article, we review the key challenges for charities identified at our not-for-profit annual update at the end of last year. We discussed the hot topics impacting our charity clients, from governance and tax issues, to the impact of cyber fraud on the charitable sector, delivered by Solace Global. Governance update As you might […]

Cashflow management and business tax liabilities

Many companies will have encountered significant hardship during the pandemic. When added to the current high levels of inflation, cashflow management has become a key objective for many business owners. In this environment, businesses will want to ensure that they minimise cashflow disadvantages from the corporation tax changes coming into effect from 1 April 2023. […]

What is the best way to gift money to grandchildren?

Many grandparents considering their succession planning options will wish to give financial support to their grandchildren. In this article we discuss some of your options for lifetime gifting, along with their headline tax implications with a particular focus on inheritance tax (IHT). If your grandchildren are under the age of 18, the tax implications of […]

Tax considerations when moving overseas

In this episode, Leonora Stevens, Mike Hodges and Alexandra Britton-Davis discuss the relevant tax matters for those who are thinking of moving outside of the UK before the end of the tax year. We also provide some practical guidance on the actions individuals can take to lose their UK residency status. Read more on the […]

Statutory Residence Test and exceptional circumstances

An individual’s tax residence status in the UK is determined by the Statutory Residence Test (SRT), the application of which is heavily reliant on the number of days spent in the UK during the tax year (more information regarding the UK Statutory Residence Test is available here). A day is generally counted as a ‘UK […]

The UK’s Statutory Residence Test

The Statutory Residence Test (SRT) can provide individuals with welcome certainty in relation to their UK residence status, but it is important not to underestimate the complexity of the rules. Considered at a high level, the SRT is relatively straightforward. There are three main parts, which need to be applied in the following order: Automatic […]

Financial and tax due diligence for global technology services business

Planit provides high quality technological engineering, quality assurance and application testing services to businesses both in the UK and internationally, and have ambitions to expand their offerings throughout the UK and into Europe. The company is owned by Nomura Research Institute, a Tokyo Stock Exchange-listed global provider of technology consulting services and system solutions. The […]

Making Tax Digital for income tax

The government’s Making Tax Digital (MTD) programme is intended to move the UK towards a fully digital tax system, which is planned to allow taxpayers to easily keep digital records and report their tax liabilities and payments in real time. It is the government’s intention that this will reduce taxpayer errors, increase the information available […]

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 […]

Interview with Paul Donovan, UBS Global Wealth Management

Luke Hanratty, a Director in our High Wycombe office interviews Paul Donovan, Chief Economist of UBS Global Wealth Management. In the interview, Luke and Paul discuss the following: The recent UK political and economic turbulence, and the outlook over the next few years. Interest rates and the impact on businesses and funding. How current global […]