Insights

We constantly advise people who are completely sure that they will automatically be rewarded with a big pay off as a result of selling their company one day. They are also entirely sure that they will only suffer tax at 10% on the sale and they seem shocked when we...

With increasing competition, comes an increasing need to focus on efficiency and timely, informed decision making. Fully utilising computerised accounting systems is vital in achieving this. Designed for complete control when managing finances, Sage Accounts is fast,...

In recent budgets the government has been trying to align the taxation of foreign individuals with the UK tax system. Up to 5th April 2017 only 90% of a foreign pension or annuity payable received by a UK resident (except those claiming the remittance basis) was...

It was confirmed in the Autumn Statement that salary sacrifice schemes in respect of certain benefits would no longer be effective for tax and NIC purposes. However, the following benefits can continue to benefit from tax and NICs relief if provided through salary...

A recent report by Oxford Economics1 suggests that the cost of replacing one ‘lost’ member of staff is a staggering £30,614, which includes the cost of replacement, management time, HR time and involvement and recruitment costs as well as lost productivity and income...

Entrepreneurs’ Relief is a very valuable and effective way of managing your tax rate particularly when you are considering disposing of your business, succession issues and overall planning. It has been with us since April 2008 and is a very generous relief making the...

Since George Osborne announced that he would be reducing eligible interest relief on Buy to Let properties from 6 April 2017, some landlords believe they can mitigate the loss of tax relief by creating an incorporated company for buy to let purposes. Buy to let...

In light of the Brexit vote our Planning Guide looks at the impacts for businesses and how you can put in place plans to minimise risk and maximise opportunities. To order your free copy of the Brexit Planning Guide please email janecampbell@bakertillymm.co.uk or Tel:...

There has been a significant increase in the level of HMRC activity in regard to reviewing the construction industry tax scheme. As reported in Accountancy Age in January 2016, HMRC investigations into the construction sector have increased 17%, resulting in yields...

From 6th April 2016 all UK companies (including dormant companies) and Limited Liability Partnerships (LLPs) must maintain a register of people with significant control (PSC register) apart from those subject to the FCA’s Disclosure and Transparency rules. The purpose...

On 6th April 2016 HMRC introduced a payrolling benefits in kind service to account for the tax on the benefits, if any, provided to your employees. To avail of the service you should register with HMRC. Payrolling benefits should reduce employers’ reporting...