-
Do you have income overseas?
As the tax return season draws to a close again, HMRC have issued updated guidance to assist UK resident tax payers in bringing their tax affairs up to date in respect of any undeclared income or gains from overseas bank accounts and investments. There are currently formal disclosure opportunities with HMRC in respect of income…
-
No Will? Changes to who inherits when you die….
If a person dies without leaving a valid Will the laws of intestacy spell out who is entitled to what. Unmarried partners, close friends and carers have no right to inherit (unless property is jointly owned in a certain way), even if that was the intention of the deceased. Even worse, if there are no…
-
Yet another round is looming in respect of the Bridport Golf Club case
We have previously mentioned in other blogs that HMRC might be looking to argue that if it were to repay private members’ golf clubs overpaid VAT relating to green fees it would amount to unjust enrichment. It is currently rumoured that HMRC will make the case that the repayable amounts. which are likely add up…
-
MOSS – IT HAS NOTHING TO DO WITH ROLLING STONES
In the first of two blogs on this subject, we look at what MOSS is and why it has been introduced. A subsequent blog will examine how MOSS will work and what the implications are for UK traders. There has recently been a fair amount of press coverage, some more accurate than others, regarding some…
-
Non residents to pay tax on UK residential property
Following the closure of the consultation period, HMRC has confirmed that from 6 April 2015 non UK residents will pay capital gains tax on gains arising on the disposal of UK residential property. This measure will be particularly relevant for UK individuals who have moved abroad but retained property in the UK. Currently the…
-
Trustees take note!
FATCA is here! In September 2012 the UK and US signed a treaty to implement the Foreign Account Tax Compliance Act (FATCA) in the UK. This legislation is aimed at reducing tax evasion by US citizens. So why should trustees of UK trusts take any notice?…because there may be a requirement for the trust to…
-
Companies House to increase free access to data
In an effort to increase corporate transparency Companies House is to make all of its digital data available free of charge. This will make the UK the first country to establish a truly open register of business information. As a result, it will be easier for businesses and members of the public to research and…
-
Holiday pay to include allowance for overtime?
Thousands of businesses are facing additional costs after a tribunal ruled that overtime should be included in holiday pay calculations. A recent Employment Appeal Tribunal (EAT) ruled that employers must factor in overtime when calculating holiday pay, instead of only taking basic pay into account. The tribunal also said that employees could make backdated claims if it has been less than…
-
Do the new accounting standards affect me?
With relatively little fanfare, FRS 102 comes into force for accounting periods commencing on or after 1st January 2015. This is a fundamental change in the way in which financial accounts are prepared for companies of all sizes which can result in unanticipated consequences from lower tax bills, to dividends suddenly becoming illegal. Are you…
Understanding your business finances is about far more than meeting your statutory obligations. While many business owners focus on sales and turnover, a deeper understanding of profitability, cash flow and overall financial performance can lead to better decision-making and long-term business success. The financial statements produced by your accountant can …
August 14, 2026
Read more
free making tax digital briefing 