Termination: Probationary periods – why bother?

A probationary period can give both the employee and employer the opportunity to assess whether they are a good fit for each other. If however, there is some doubt about the employee’s suitability, or it becomes clear that they do not have the skills required to undertake the role to the required level you may be considering dismissing an employee during their probationary period. Read more…

Make the most of the Brexit implementation period

Now that the UK has left the EU, we have entered an implementation period that will last the rest of 2020, during which the UK’s future relationship with the EU will be agreed, giving businesses the chance to prepare for the UK’s new trading arrangements. While much of the detail is still to be decided, we do know that businesses trading with the EU will Read more…

Property tax implications of getting divorced

If you are in the process of getting divorced, it is likely that the tax considerations involved are not foremost in your mind. However, divorce can have extensive implications for your tax bill, including in relation to Capital Gains Tax (CGT). This means it is crucial that you take your tax position into consideration when negotiating your financial settlement. For the purposes of CGT, spouses Read more…

When was the last time you checked your NIC record?

Most workers assume that their National Insurance Contributions (NICs), as reported by their employer or through their own records, are accurate and up to date. After all, within the Income Tax system, we have the comfort of an annual reconciliation process, so why would NICs be any different? However, it may come as a shock to learn that they aren’t and that this could have Read more…

Latest case highlights the dangers of not meeting workplace pension requirements

A recruitment business has been ordered to pay £10,890 after avoiding their automatic enrolment duties and misleading the Pensions Regulator (TPR). Hertfordshire-based SKL Professional Recruitment Agency Ltd’s managing director Linus (known as Lee) Kadzere has been sentenced at Brighton Magistrates’ Court for wilfully failing to comply with the workplace pension rules and misleading TPR. The specialist recruitment agency provided workers to the care sector, but Read more…

VAT zero-rating now applicable to businesses e-publications

Businesses that rely on the production of guides, physical books, newspapers or other printed materials currently enjoy a zero-rating for VAT. However, those who sell and publish similar content online have had to pay VAT at the standard rate. This is now set to change after a decision made by the Upper Tax Tribunal (UTT) confirmed that the suppliers of electronic literature should now consider Read more…

Get ready for a range of tax changes this April

Monday 6 April 2020 will see a range of tax changes come into effect with the start of the 2020/21 tax year. Some of these changes have the potential to have considerable implications for your tax bill, depending upon your specific circumstances. Here is a selection of the most significant changes: Capital Gains Tax (CGT): Some of the biggest changes in April relate to CGT, Read more…

Entrepreneurs’ Relief changes expected in March Budget

Speculation is increasing that the Government will announce significant curbs on Entrepreneurs’ Relief in the Budget, or could even scrap the valuable tax relief altogether. According to the Financial Times, ministers are concerned that Entrepreneurs’ Relief is too generous to wealthy individuals. Entrepreneurs’ Relief allows business owners to pay half the usual 20 per cent rate of Capital Gains Tax on gains of as much Read more…