Tax Thursday, today, sighs, with a significant degree of relief that Rishi kept it positive and reassuring yesterday. Download our annual Budget Summary. Those of us braced for potentially painful tax rises were largely surprised and pleased to be spared from most of...
In order to support businesses during the Covid-19 pandemic, UK VAT registered businesses were able to defer VAT payments due between 20 March and 30 June 2020. If you deferred VAT payments and you still have payments to make, you can: pay the deferred VAT in full, on...
Tax Tuesday regularly encounters business owners who are not yet aware of the significant commercial protection which can be achieved through having a holding company (Holdco) put on top of their operating company (Opco). This week we look at how you could apply this...
Taxpayers, who have undertaken a share exchange in relation to their trading company and may benefit from an election to crystallise the tax now, should read on. With only a month before the forthcoming Budget on 3 March, owners are braced for potentially significant...
In this week’s Tax Tuesday, we explore the features and benefits of “The Grandparents’ Settlement” which often proves to be an ideal solution when looking at setting up ‘some form of fund’ for grandchildren. Please note, when reading the foregoing,...
The tax gap is the difference between the amount of tax owed to the tax man and the amount collected in real terms. In 2018/19 the UK Exchequer collected circa £628bn of tax. By the estimates of HMRC, this involved a gap of missing tax of about £31bn (or 4.7%). This...
