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 […]

Due diligence services for global tax services adviser

Ryan LLC (Ryan) is a leading global tax services and software provider, serving more than 20,000 clients in over 60 countries, and is the largest firm in the world dedicated exclusively to business taxes. Our work and advisory services on the acquisition of Granted Consultancy Limited Our Corporate Finance Team, led by Niraj Patel, […]

UK GAAP – Changes Proposed in FRED 82

With The Financial Reporting Council (FRC) has proposed significant revisions to UK GAAP which will impact the majority of UK GAAP reporters as the FRC seeks closer alignment with International Financial Reporting Standards (IFRS), in particular, around revenue and leases. The implementation of these standards internationally took years in the planning and resulted in large […]

End of year tax planning

Leonora Stevens and Mike Hodges discuss how to plan appropriately for the new tax year from 6 April. There has been a lot of economic turbulence and multiple tax announcements over the last six months, so we provide clarity of the changes from 6 April, and what you can do before these come into place. […]

Year-end tax planning for individuals

We outline the actions that individuals can take before the end of the UK tax year to ensure they are making the most of the available allowances and reliefs open to them. Private individuals Self-assessment key dates Failure to notify chargeability to tax, to file your tax return and pay any tax due on time, […]

Year-end tax planning for business owners

We outline what business owners can do before the end of the UK tax year to make the most of the available allowances and reliefs open to them. Family businesses Where there is a family company, dividends may represent a tax-efficient means of extracting profits by adult family members. Dividends are taxed at lower rates […]

Year-end tax planning for employers and employees

We outline what employers and employees can do before the end of the UK tax year to make the most of the available allowances and reliefs open to them. General planning The amount of tax deducted from an employee’s salary depends on their Pay As You Earn (PAYE) code. This code is issued by HM […]