06-07-2022
With the current labour shortage affecting pretty much all areas of the economy, taking on an apprentice could reap rewards for many businesses. There are many reasons why hiring an apprentice can benefit your business. However, for hard-pressed employers with limited budgets, the financial incentives offered by the Government are an encouraging reason to take
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06-07-2022
There is little doubt that the working from home phenomenon is well and truly established. With a laptop, a phone and an internet connection, you can perform many tasks as adequately at home or elsewhere, as in an office. While returning to the office is a must for many, recent rail strikes and fuel price
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06-07-2022
As property prices soar, more and more people are being drawn into paying Inheritance Tax (IHT). Why? Chancellor Rishi Sunak froze the nil rate thresholds for paying the tax at £325,000 until 2026, while the value of homes has rocketed, potentially drawing people into paying the tax. There are some exceptions, but generally, people are
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06-07-2022
A company has lost an £11 million dispute with the taxman over whether contract construction workers were entitled to claim travel costs tax-free. As many as 600,000 temporary workers in the UK are thought to be employed by umbrella companies, used by recruitment agencies and companies to cut temporary payroll costs. Exchequer Solutions Limited (ESL) is
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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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