The impact of Business Property Relief has profound consequences for owners and shareholders of companies when considering their inheritance tax liabilities. Corporate directors need to understand how this will be funded going forward, gain a clear view of what the value of that liability is, and understand how and when it might arise. Alistair Hunt, […]
While Agricultural Property Relief (APR) has grabbed headlines, the upcoming changes to Business Property Relief (BPR) are set to impact far more estates. It’s important that business owners understand the impact of these changes and put in place effective succession strategies. Lizzie Murray, Head of our Private Wealth Practice Group, explains the upcoming changes to […]
Entrepreneur Simon Orange has made a significant strategic investment in William Hare Group (WHG), a leading structural steel business with a global footprint. The investment marks a new chapter for WHG, which employs over 2,000 people across nine UK sites and international operations in Europe, the UAE, and India. The deal is expected to support […]
The Patent Box regime is a generous tax incentive that is less well-known than Research and Development (R&D) tax credits. It could be time for your company to take advantage of this underutilised tax relief. Furthermore, with corporation tax rates having risen to 25% from 1 April 2023, this scheme becomes increasingly attractive to UK […]
Navigating the complex world of tax is one of the greatest challenges facing professional tennis players today. Beyond the physical demands of competing at the highest level, these athletes must manage a labyrinth of tax obligations spanning multiple continents, all while constantly on the move. Tennis professionals maintain an almost entirely nomadic lifestyle, rarely spending […]
The Economic Corporate Crime and Transparency Act 2023 (ECCTA) was introduced on 26 October 2023 to strengthen corporate governance and tackle economic crime in the UK. Here is a summary of the next phase of changes to be aware of. Identity verification Soon it will become compulsory for directors/LLP members and Persons of Significant Control […]
If you’re a partner in a business partnership, it’s in your interests to make sure your partnership tax return is correctly completed and submitted. What is a partnership tax return? UK partnerships, including ordinary partnerships, limited partnerships, and limited liability partnerships or ‘LLPs’ (if run with the aim of making a profit), are transparent for […]
In this month’s VAT Update, we consider: A recent update to HMRC guidance on VAT recovery for private schools, The Upper Tribunal decision on the VAT liability of Walkers’ Sensations Poppadoms, The complexities of import VAT following a case on import valuation, A case relating to postponed import VAT accounting, and New draft legislation for […]
Employment related securities (ERS) reporting is a crucial aspect of annual compliance for firms that offer securities or other share-based incentives to their employees. These schemes can be a key retention and reward strategy for staff members, whether they are inside or outside a tax approved scheme. This is also an area where we are […]
Our report examines and analyses UK merger and acquisition (M&A) activity across the legal sector during 2024, while also providing an outlook and early indications for 2025. Our review has showed considerable activity, with total transaction volume increasing by 25% in comparison to 2023. Acquisitions of lower to mid-market law firms continued to dominate M&A […]
