26-07-2024
With over 30 years' experience heading the Company Secretarial team at Wilder Coe, Ian Saunders, Partner, delves into the current and upcoming legislation changes for the Economic Crime and Corporate Transparency Act and explores what companies must consider to remain compliant with the changing UK laws. What changed? The Economic Crime (Transparency and Enforcement) Act
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25-07-2024
The Charity Governance Code committee has set out several principles for charities in England and Wales. The Charity Commission states that “good governance is no longer an optional extra. It is essential to charities’ effectiveness and survival too.” As a charity trustee, you must be able to demonstrate that you take the principles seriously and can adapt, when necessary, the
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10-07-2024
HMRC have published their 2022/2023 “Tax Gap” estimate, which is the difference between the amount of tax which should have been paid and what is actually paid. Although a factor, the tax gap is not solely down to avoidance. More commonly, people make a genuine error in calculating their taxes or rely on past information
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02-07-2024
When developing your business exit and succession strategy, you must consider all possible avenues, including those which might not seem so obvious. A management buyout (MBO) is one such approach that has gained traction for its flexibility and the ability to leave your business knowing that an experienced team is in place to run it.
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02-07-2024
Whether the hot weather lasts or not, summer is here to stay, bringing with it seasonal challenges and opportunities for business owners. You may think summer is business as usual, but many companies face disruption and delays due to: More people taking holiday than at other times The heat disrupting transport or the supply chain
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02-07-2024
HM Treasury has taken £77.2 billion in Income Tax and National Insurance (NI) since April 2024 – signalling the effect of the freeze in the Personal Allowance and Income Tax bands and thresholds. Taxpayers have seen two landmark cuts to employee NI payments, falling from 12 per cent to 10 per cent after the 2023
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02-07-2024
Invoice fraud, affecting one in three companies, involves deceptive practices that trick businesses into making payments to fraudulent accounts. As fraudsters' techniques become more sophisticated, businesses must understand their tactics and the potential impact on operations. Here are some common techniques used by fraudsters: Fake invoices: Fraudsters create counterfeit invoices that appear legitimate. They might
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02-07-2024
The new UK Government has been formed. Despite the Labour Party's campaign and pledges around keeping tax rises to a minimum, expert opinion suggests that future rises are inevitable. The inevitability of higher taxes For the foreseeable future, the freeze on most tax thresholds is likely to remain in place. The thresholds' freeze means that
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02-07-2024
Private equity investment has been a significant force in the financial world for some time. However, the nature of private equity has changed considerably in the last few years and it’s worth knowing how this may affect your business. Background Traditionally, private equity involved investment firms raising funds from investors to acquire stakes in companies.
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19-06-2024
We often find that clients begin to show signs of stress when the Self-Assessment tax return deadline approaches. This is just one of the reasons we recommend you file your return early, but there are numerous other benefits. Here are three key reasons to consider submitting your tax return sooner rather than later: Avoid last-minute
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19-06-2024
HM Revenue & Customs (HMRC) has recently announced new Advisory Fuel Rates (AFRs) that will take effect from 1 June 2024. These changes include a reduction in the Advisory Electric Rate (AER) for electric vehicles – which can be highly tax efficient. Many businesses have invested in electric fleets, which presents a slight problem for
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19-06-2024
As of 1st May 2024, Companies House has implemented revised fees, marking a significant change in the cost structure for various services. This adjustment stems from the Economic Crime and Corporate Transparency (ECCT) Act, introducing measures that inevitably increase operational costs for Companies House. Understanding the impact The fee revisions encompass a range of services,
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A Strategic Alternative: ADR for High-Value Commercial Disputes
A Strategic Alternative: ADR for High-Value Commercial Disputes When a significant commercial dispute arises, the instinctive response is often to resort to court proceedings. For business owners, shareholders, and directors facing disputes that revolve around intricate financial issues and evidence, however, judicial processes can involve aspects which are detrimental to achieving an efficient resolution. Often characterised as a long, arduous process, litigation can also be a very expensive way to resolve disputes, and in instances […]
