Many individuals who have spent their livelihoods building, running, and maintaining a successful business, often intend to pass on their accomplishments to a family member, close relative or trusted employee.
UK and Spain set to review Gibraltar tax residency agreement
The UK and Spain are set to review how residents and companies based in Gibraltar are treated for tax purposes in a bid to tackle tax avoidance, it has been announced. It comes after the Joint Coordinating Committee and Liaison Body met last month to discuss tax co-operation between the authorities of Spain and Gibraltar, […]
Beware of the HMRC scammers, but ignoring calls can be costly
There are many problems associated with the pandemic, apart from the obvious one of the illness caused by the virus itself. Conmen and scammers have taken advantage of the situation, bombarding people and businesses with bogus claims about tax owed in the hope that just a few respond. For businesses, the accountant is the first […]
Carry back scheme brings welcome relief for business
For many businesses, the pandemic has turned the world on its head, with many who might have expected to be profitable experiencing a loss. Sometimes losses happen simply because the business is very new, or because costs have unexpectedly risen. However, COVID-19 has thrown another dimension into the mix, seeing thousands of companies fail to […]
New recommendations in sweeping CGT review
The second part of a sweeping review of Capital Gains Tax (CGT) has been published with 14 key recommendations. In July 2020, the Chancellor asked the Office of Tax Simplification (OTS) to carry out a review, to “identify opportunities relating to administrative and technical issues as well as areas where the present rules can distort […]
Tax saving strategies for landlords
Putting together an efficient tax strategy should be a no-brainer for buy-to-let landlords seeking to maximise their income. It may not be quite as glamorous as hunting down the perfect property, but when it comes to saving cash, it can make a huge difference to your bottom line. There are several ways you can reduce […]
Bank of England and CBI expect the biggest rise in economy for decades
Both the Bank of England and the UK’s leading business members’ organisation believe the economy is set to take off after the vaccine bump. GDP (Gross Domestic Product) is expected to rise sharply in the second quarter as lockdown eases. Bank economists say this is a result of the vaccine rollout and the fastest predicted […]
Less than one month left to apply to SME Brexit Support Fund, businesses reminded
There is less than one month remaining to claim grant funding through the SME Brexit Support Fund, businesses have been reminded. The initiative – which helps new and established businesses adapt to post-Brexit importing and exporting processes – will close to new applications on 30 June 2021. If you need help trading overseas, here’s what […]
Just one month left to apply to EU Settlement Scheme: what employers need to know
EU workers have just one month left to apply to the EU Settlement Scheme to secure the right to live and work in the UK. If you employ EU nationals, here’s what you need to know. What is the EU Settlement Scheme? European Union, European Economic Area (EEA), and Swiss citizens who lived and/or worked […]