A summary of the PM’s statement on Health and Social Care, the introduction of the 1.25% Health and Social Care Levy from April 2022 and the lifetime cap on care costs of £86k from Oct 2023.
Health and Social Care Levy
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Derby Tax advisors
Derby Tax advisors
Penalties for late submissions to HMRC
A recap of HMRC’s proposals to reform the penalties for late submissions to a points based system.
Chartered Institute of Taxation responds to HMRC’s consultation on basis period reform
A summary of the Chartered Institute of Taxation’s response to HMRC’s consultation on proposed basis period reform, allocating trading profits to tax years rather than accounting years.
Residential Property Developers Tax (RPDT)
The government’s consultation on a potential new tax, Residential Property Developers Tax (RPDT) closed last month. RPDT if enacted, will tax profits made from residential property developments from April 2022.
Tax Administration Framework Review
The ICAEW comments on the Tax Administration Framework Review consultation which closed on 13 July 2021.
Trusts v Family Investment Companies
Are Family Investment Companies (FICs) the best way to preserve family wealth or do trusts still have the edge?
What should you expect from your accountant?
Raise your expectations. The right accountant on your team makes a real difference to running your business day to day and helps you plan ahead with confidence.
Restructuring as a way to divide a Family Investment Company
Restructuring a business when outgrowing a Family Investment Company through a demerger can be a tax efficient way to allow family members to pursue different commercial goals.
Tax Policies and Consultations Paper Released
Tax policies and consultations papers released from HMRC on what many are calling Tax Day. The summary document covers modernising tax administration, tackling non compliance and makes further tax policy announcements.
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