News
A round up of our latest blogs, commentary or office news. Get in touch if you need more details on any of the topics covered.
Latest posts
EOT Share Valuation
The tax costs of overvaluation are significant should HMRC consider the transaction overvalued. Getting an independent valuation early in the EOT thought process is important.
Disqualifying an EOT
Craig Simpson, Tax Partner at Bates Weston looks at the events which can disqualify an EOT and at who becomes responsible for the tax payable.
Salary Sacrifice Guidance
HMRC have published guidance on the salary sacrifice optional remuneration rules which took effect from 6 April 2017. The new rules largely see the withdrawal of the Income Tax and National Insurance benefit where an employee gave up a right to earnings in return for...
Have you missed out on the employment allowance?
Statistically 20% of companies did not claim the employment allowance when it was introduced in 2014/15 and it may have been missed in 2015/16 and 2016/17 as a result. The employment allowance came into effect from April 2014 and was originally £2000. It increased to...
Charity newsletter
In this issue of our charity newsletter we consider the impact of fundraising regulation, relevant consultations and legislative changes. We also include an update on Gift Aid and the Gift Aid Small Donations Scheme, Digital advice for charities and the introduction...
Employee Benefit Trusts – Storm Approaching!
Often with HMRC pronouncements surrounding tax avoidance we get no warning. An announcement is made out of the blue and tax professionals everywhere are left scurrying round trying to find the detail behind the headlines to see how it might affect their clients....
Making Tax Digital – updates
Update: July 2018 It is time to take action if your business has a taxable turnover above the VAT threshold of £85,000. The government has confirmed that from 1 April 2019 all VAT registered businesses with taxable turnover above the VAT threshold (currently £85,000)...
Cash in reserve
In an article published in September 2016's Taxation magazine, Craig Simpson, partner at Bates Weston Tax LLP, examines the treatment of surplus cash in a company. Tha article is written as a discussion document for fellow professional tax advisers, however it...
How can I fund innovation in my business?
Is your company innovating? Research and Development (R&D) tax credits provide extremely favourable tax reliefs for companies who engage in innovation. It is not just relevant to technology companies and qualifying R & D can be found in many different...
How can I accumulate and pass on my wealth?
Accumulating, preserving and passing on family wealth There are several tax efficient options families can adopt to help them to accumulate, preserve and pass on their wealth. As ever, we would begin by ensuring that we have a clear understanding of your personal...
Register of people with significant control
Who's pulling the strings? UK Companies and LLPs are now required to identify and record the people who own and control their company. Companies must file the People with Significant Control (PSC) information with Companies House. The PSC register helps to increase...
How can I attract, retain and motivate key people?
Attracting, retaining and motivating the right people is one of the keys to growing a successful business. Your own circumstances and goals will be unique, but we are adept at getting to the heart of what you are trying to achieve and recommending tax efficient...
Letting residential property and tax
Changes in the taxation of property income from letting residential property There have been a number of changes in the taxation of income from residential property which will be introduced over the next 5 years. The key changes are shown below. Please note that none...
Protection from tax investigation costs
If you're a Bates Weston client and you subscribe to our Tax Investigations Service, the costs involved in dealing with an HMRC tax enquiry are covered. When you subscribe to our Tax Investigation Service we are able to make a claim against our insurance policy held...
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