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
Fourth Industrial Revolution
Government continues to take steps to support the Fourth Industrial Revolution by appointing inaugural chair of Regulatory Horizon Council.
Residence Nil Rate Band 2019/20 and the Family Home
Understand how the value of your family home and the residence nil rate band may affect your inheritance tax bill.
Cash flow case study
Our client has a profitable business, dealing with high volume, low margin product which is subject to significant increases in raw material costs and extended supplier deadlines. The owners understandably prioritise satisfying customer demand over reducing the cash...
Buying a second property
Does the 3% stamp duty land charge surcharge always apply when buying a second home? Graham Buckell comments: "As most people are aware there is now a 3% stamp duty land tax (“SDLT”) surcharge if buying a second home. This cannot always be avoided particularly where...
Entrepreneurs’ Relief
We have recently advised a family business where no one qualified for Entrepreneurs’ Relief. Craig Simpson focus' on the availability of Entreprenurs' Relief and trust holdings. "This is a first in my experience, but the client was rather surprised. Well-meaning trust...
HMRC publishes Phoenix TAAR guidance
HMRC have published their long awaited guidance on the Phoenix TAAR. The rules were introduced from 6 April 2016 to combat a common tax planning arrangement whereby a company traded for a period of time accumulating cash in a low corporation tax environment. The...
Making Tax Digital FAQs
Frequently asked questions regarding Making Tax Digital, answered by Stuart Hulland our online accounting specialist. If you have more questions for Stuart, please do get in touch with him. stuarth@batesweston.co.uk What is Making Tax Digital - MTD? The government...
Employment status evolves
Graham Buckell explores the changing nature of employment status and the importance of ensuring all advice on employment arrangements takes into account the most recent changes. "The last few months have seen a series of court decisions regarding employment status. We...
Making Tax Digital from April 2019
Bates Weston, helping you to make sense of Making Tax Digital and digital record keeping Making Tax Digital (MTD) is the phased introduction of digital record keeping by HMRC, who are committed to making the UK tax system “one of the most digitally advanced tax...
Bates Weston Tax & Financial Planning Guide 2018 – 2019
This guide looks at some common areas where you and your family can make tax-related choices, in line with the tax law. We have tried to explain the ideas in brief and without jargon, but everyone’s financial circumstances are different, so it is essential that you...
Settlement and the 2019 loan charge
ACT NOW - Do you have clients that are in a disguised remuneration scheme? If you have clients with an EBT or EFRBS arrangement where they have outstanding loans then action is required now. HMRC have introduced legislation to treat all loans outstanding on 5 April...
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...
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...
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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