Latest blogs for Specialisms

What To Expect In Issue 8 of Our Property Matters Newsletter HMRC Nudge Letters In this edition we are looking to explore the approach that HMRC are now taking in relation to closing the reportedly £40 billion tax gap, not only through the use of employing more compliance workers, making greater use of AI, but…

As we all come to terms with the announcements made in the Autumn Budget, here are some simple Inheritance Tax planning tips to consider. Firstly, anyone can benefit from gift allowances.   Those farmers fortunate enough to have cash can give some away to reduce their estate as follows: £3,000 Annual Exemption This can be…

There’s Always Something! Welcome to Issue 26 of our Farming Group Newsletter for Spring/Summer 2025, our first since the shock Inheritance Tax (IHT) announcements were made in the Autumn Budget 2024. Ironically for many, the autumn, winter and spring conditions so far, despite a few pockets of wet and dry spells, have probably been the…

It is confirmed that Making Tax Digital for Income Tax will affect Income Taxpayers with income of over £50,000 from 6 April 2026. This is applicable to those with self-employed income and rental property.   MTD for IT compliant software will be necessary in order to keep your financial records digitally, prepare and submit quarterly…

Thinking of employing young workers over the summer? Here’s what you need to know…   In the UK, a young person is defined as anyone under the age of 18. This would include employees on an apprenticeship, or someone you employ for work experience.   Legally, children under the age of 13 are prohibited from…

With upcoming changes to company size thresholds taking effect from 1 October 2024, many companies may now qualify as “small” and potentially become eligible for audit exemption.   However, if a subsidiary is part of a medium or large group, it will usually require an audit, even if the subsidiary itself qualifies as small.  …

Funding Opportunity: Grants of up to £25,000 available for Fenland businesses If you’re a business owner in Fenland, now’s the time to explore funding that could help you grow, improve productivity, and create or safeguard jobs.   Fenland District Council is offering grants of £5,000 to £25,000 through its ‘Investment in Business’ programme. These grants…

Over recent years HMRC have sharpened their appetite to collect more tax through the 25 year old IR35 legislation. These rules seek to tax individuals who provide their personal services through their own limited company as if they were directly engaged as an employee of the end client.   If IR35 applies, this stops tax…

The SORP is the ‘Statement of Recommended Practice’ which outlines the accounting principles to be applied in Charity accounting. The current SORP from 2019 has been updated, and the new version is now released in draft for response from charities, professional advisors and others who may wish to respond to the public consultation.   The…

Most businesses and personal taxpayers should by now have noticed HMRC’s rollout of Making Tax Digital (MTD). Different colours of Government have tinkered with the timing of the introduction of this new tax administration system, but not the direction of travel.     The launch is working its way through the taxes, starting a few…