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Valuation insights: HMRC withdraws valuation checks services
With effect from 31 March 2016, HMRC’s Shares & Assets Valuation is withdrawing its valuation services for PAYE health checks and ITEPA (Income Tax (Earnings and Pensions) Act 2003) post-transaction valuation checks. Impact The reason cited for the withdrawal of this service is SAV’s valuation resources being “severely stretched”. The greatest impact will be for…
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Valuation insights: Selling shares for more (or less) than market value
We have recently seen a number of instances where shareholders’ agreements contain a different method for allocating sale proceeds to shareholders from the Articles of Association. Such arrangements may expose shareholders and the company to substantial tax liabilities. There are often good commercial reasons why some shareholders should receive a larger proportion of the proceeds…
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Valuation insights: Death of the control premium?
It has been a long established practice that when valuing a private company using valuation data from comparable listed companies a control premium should be added to reflect the benefit of acquiring full ownership of the business. This approach has been under challenge for a number of years and recent developments in the US could…
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Valuation insights: New rules for purchase price allocations
The new accounting standard FRS 102 requires that on a company or business purchase the separate intangible assets acquired should be identified and valued. With the first accounts under this standard now being prepared we can share our experience and insights into how these valuations are working out in practice. Standards For several years companies…
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Businesses urged to protect themselves from Cyber Crime
In response to a recent business survey on cyber-crime the Office of Warwickshire Police and Crime Commissioner has created a DVD on cyber crime for SMEs along with West Mercia PCC and the West Midlands Regional Organised Crime Unit. It can be accessed here. Overall, the survey calculates that losses suffered by victims in Warwickshire could total £2.5 million each…
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HMRC’s collect additional £3.5 billion through focusing on SME VAT underpayment
HMRC has raised £3.5bn in the last year through investigations into the under-payment of VAT by small businesses, suggesting that these businesses are coming under increasing scrutiny Increased VAT revenue accounted for almost half (45%) of the additional tax yield in 2014/15 from investigations by the local compliance teams used by HMRC to monitor small…
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International Tax Award for Burgis & Bullock
We are delighted to announce that our personal tax team have won the tax award for Best Private Client Tax Team – Midlands, in the The Acquisition International 2016 Tax Awards. The Acquisition International 2016 Tax Awards are designed to commend those in the tax sector dedicated to providing exceptional service throughout the industry. These prestigious global…
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Reduction in the Pension Annual Allowance for Individuals earning more than £150,000 a year
In the last Budget Chancellor George Osborne announced the reduction in the Annual Allowance for those with ‘adjusted’ taxable incomes of over £150,000. This definition of income adds back any pension contributions made by an employer. The current Annual Allowance is £40,000 for 2015/16. From 6 April 2016, individuals who have taxable income of more…
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Is Higher Rate Pension Tax Relief about to be axed?
There is fervent speculation amongst the financial press that the Chancellor will cut the rate of tax relief for higher and additional rate taxpayers from 16 March 2016. The cuts may be phased in over a period of time or could take immediate effect from 16 March 2016. Some of the rumours include : Removing…
Last week, our trainees took part in an internal audit training session designed to strengthen their technical knowledge and support their professional development. While gaining practical skills was the key objective, we also wanted to make the learning experience engaging and enjoyable, so we incorporated some games. At Burgis & …
October 14, 2026
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