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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.

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Defer grant of EMI options

Defer the grant of EMI options until the UK Government has secured continuing EU State Aid approval from the European Commission. The EU state aid approval on EMI schemes expired on 6 April 2018. If you have clients in the middle of implementing an EMI do not grant...

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OTS Business Lifecycle Report April 2018

The Office of Tax Simplification has just published its Business Lifecycle Report. In it, it explores the tax issues which affect businesses as they start up, incorporate, finance growth, succession and disposal or cessation of business. The OTS summary indicates they...

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GDPR – a simple summary

As an SME ourselves, we wanted to get to the GDPR point. What do we need to do differently on 25 May that we don’t do now? We couldn’t find a simple summary, so we set about condensing the Information Commissioner’s Office published content on the subject. Here it is....

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Requirement to Correct legislation

Many taxpayers are unaware of the “Requirement to Correct” legislation which has recently been introduced and has potentially enormous consequences for non-compliance. Richard Coombs, Tax Partner at Bates Weston explains: The legislation is very much targeted at...

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A real employment?

Craig Simpson, Tax Partner at Bates Weston draws attention to the dangers of paying wages to relatives. A recent First Tier Tribunal Case finds that wages paid by a self-employed individual to his son were not deductible for tax purposes. The case of Nicholson v...

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Tax bands and allowances

When a system is so complex, that it defeats HMRC’s own online system and they resort to asking you to submit your return on paper, alarm bells should be ringing. Graham Buckell, Bates Weston tax partner, sheds some light on the complex interactions between allowances...

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Year end tax review 2018

Year end tax review 2017/18 The key to minimising your tax bill is planning ahead and working with your advisors to make sure they understand your plans, both in the short and the long term. If your personal or business circumstances are changing, if you are thinking...

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Childcare Vouchers

Childcare Vouchers Using Government childcare vouchers to pay for childcare can save parent thousands of pounds a year. The scheme is operated by employers and allows childcare to be paid for from pre-tax salary. Basic rate taxpayers can buy up to £55/week voucher,...

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Charities materially misstate accounts

The Charity Commission expects trustees to take compliance with accounting requirements seriously. It was not impressed with the 97 charities, with a collective income of almost £195 million, who filed accounts where their auditors stated that the accounts were or...

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Company demerger options

Breaking up Company demergers can be complex, but in most cases it should be possible to demerge trades and businesses tax efficiently. Craig Simpson considers the alternatives. In any demerger there needs to be a clear view on the commercial, legal and practical...

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HMRC settlements on EBTs

HMRC Settlements on EBTs are back on the table Richard Coombs reminds advisors to encourage clients to settle their historic EBT liabilities before April 2019 . Employee Benefit Trusts seem to be permanently in the news these days and the recent “Paradise Papers” leak...

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Trading and property allowances

If your property income is less than £1,000 there is probably no need to report it to HMRC. There are exceptions and Graham Buckell takes us through the traps. "In the Budget 2016 the Chancellor announced two new exemptions for casual trading and property businesses...

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Business News

The latest business and financial issues making the headlines.

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