06-07-2022
Thousands of Britons facing a cost-of-living crunch have been withdrawing funds from their Lifetime ISA (LISA) accounts and getting hit with significant penalty charges. According to HM Revenue & Customs (HMRC), a record 77,500 LISA savers were issued over £33 million worth of early withdrawal charges in 2021/22. Early withdrawal from LISAs attracts a 25
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04-07-2022
Tax Partner Tim Cook (Wilder Coe) and Zahra Kanani (Partner, Wills and Tax planning at Thackray Williams) hosted this in-depth seminar for the International Estate Planning Council on 23rd June 2022. Focusing on cross-border estates, business assets and real estate, they talk through Inheritance Tax and planning strategies for UK and non-UK domiciled individuals. Tim
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30-06-2022
The last couple of years have been challenging ones for charities. Covid-19 and the cost of living crisis have all impacted the charitable sector. The Charitable Aid Foundation and the National Council for Voluntary Organisations have recently issued their trend assessments for the sector, and here we’ll take a look at the key issues facing
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29-06-2022
The value of any business can easily become one of the most contentious issues during any divorce proceedings. Valuing a business can be a lengthy and costly process. Here we’ll take a look at how divorce business valuations are commonly achieved, and what happens in the event of a dispute. What does a divorce court
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22-06-2022
Are you taking a STEP forward in your career? Do you want to Unite with other Professionals? Our Step: UP ethos focuses on building strong and lasting relationships. Not only with our clients but supporting our team members' professional growth. As staff progress into management roles, a step on their development paths involves nurturing their
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20-06-2022
Small businesses are the lifeblood of the UK economy, but with rapid inflation and other economic headwinds making trade difficult, they can struggle to access support. There is a wide range of important tax reliefs available to SMEs, which could provide some much-needed financial assistance. Employment Allowance claims This scheme allows eligible businesses to reduce
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20-06-2022
Changes to charges and penalties applied to late submission of VAT returns will kick in from January next year. For the VAT period starting on or after 1 January 2023, new penalties will replace the default surcharge for returns submitted or paid late. Any VAT returns received late will also be subject to late submission
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20-06-2022
New legislation allows HM Revenue & Customs (HMRC) to recover Coronavirus Job Retention Scheme (CJRS) grants that have been overclaimed. Those who fall foul of the legislation could face interest charges, financial penalties and even be named and shamed. If a business overclaimed a CJRS grant and has not repaid it, it needs to inform the tax
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20-06-2022
A leading business organisation has highlighted the problems faced by the industry after new figures show a steep rise in business costs. According to figures from the Office for National Statistics (ONS), producer input price inflation stands at a record-high 18.6% and the consumer prices index at 9%. It says the disparity between the two
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20-06-2022
Research from the Federation of Small Businesses (FSB) shows that successful applications for finance among members have dropped to the lowest level on record. Conversely, figures from the Bank of England show the annual growth rate of lending to big corporates has increased significantly since the start of the year. It has led to the
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20-06-2022
The ‘biggest change to rent law in a generation’ will be delivered with the Renters Reform Bill (the Bill). The Government says it says it will improve the lives of millions of renters by driving up standards in the private and social rented sector, delivering on the Government’s mission to level up the country. Levelling
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20-06-2022
From 6 July 2022, the Primary Threshold (PT) for National insurance will increase to £12,570. This is the threshold at which employees begin paying National Insurance contributions (NICs). This will bring the rate in line with the current rate of personal allowances for income tax and means those earning below this amount each year will
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How The Autumn Budget Impacts You
The Budget 2025 Yesterday, the little red box with big red implications was finally opened, as the Chancellor delivered the 2025 UK Budget against a backdrop of slowing global growth, tightening fiscal conditions, and continued pressure on public finances. With inflation forecast to fall to around 2.5% next year and a renewed emphasis on […]
