FICs are a solution primarily aimed at family wealth preservation. Until 2006 the usual strategy to preserve family wealth would have been the trust, but tax changes since 2006 have made the use of a trust less attractive.

What is a FIC and why are they gaining in popularity?

Graeme Blair - Partner - gblair@goodmanjones.com

Published on 21st April 2021

Categories:

• Family Businesses
• Individuals & Families
• Personal Tax
• Tax
• UK Business & Entrepreneurs

If some or all of these changes are implemented, this could still result in a significant overhaul in the taxation of passing on wealth.

Inheritance Tax and Trusts: Changes so far and changes to come?

Reena Bhudia - rbhudia@goodmanjones.com

Published on 31st March 2021

Categories:

• Family Businesses
• News
• Personal Tax
• Tax

This announcement is to be welcomed and should provide much needed support for businesses suffering VAT recovery issues caused by the pandemic.

HMRC Support for Businesses Suffering Lost VAT Recovery

Graeme Blair - Partner - gblair@goodmanjones.com

Published on 29th March 2021

Categories:

• Business Tax
• COVID-19 Updates
• News
• Tax
• UK Business & Entrepreneurs

The super deduction of 130% for capital expenditure and an extension of tax relief on business losses incurred during the lockdown came as a pleasant surprise.

Spring Budget 2021

Richard Verge - Tax Director - rverge@goodmanjones.com

Published on 4th March 2021

Categories:

• Business Tax
• News
• Personal Tax
• Tax
• UK Business & Entrepreneurs

The UK government has invested in ensuring that the UK is a place that welcomes and supports businesses and those investing from overseas. The process of setting up a business here is a simple and quick process. We have and are able to incorporate a new UK entity in under 48 hours.

FAQs for US businesses expanding into the UK

Esther Wood - Partner - ewood@goodmanjones.com

Published on 26th February 2021

Categories:

• International
• Tax

The most common question at the moment is what happens where a Group company (ConstructCo Ltd) carries out the construction work and charges to a fellow Group subsidiary company that owns the property (PropCo Ltd).

Construction industry and the VAT Reverse Charge

Matthew Cook - Partner - mcook@goodmanjones.com

Published on 4th February 2021

Categories:

• Property & Construction
• Tax

Preparing your business to succeed in 2021 and beyond is a very big topic and raises many commercial, legal and tax questions around the areas of; workforce, workplace, having the right structure, making commercial relationships work given the new challenges and the management of change.

Preparing to Succeed in 2021 and beyond: Commercial, legal and tax questions from British businesses

Larry Phillips - Senior Partner - lphillips@goodmanjones.com

Published on 25th January 2021

Categories:

• Business Tax
• Family Businesses
• Tax
• UK Business & Entrepreneurs

The initial news from the ports on the first working day since the UK left the EU was positive in terms of smooth passage through the port, but with levels of traffic reduced and the finalisation of the deal only coming a few days before the holiday break, this may be a false sign.

UK VAT changes post Brexit – A brief overview

Cetin Suleyman - Managing Partner - csuleyman@goodmanjones.com

Published on 7th January 2021

Categories:

• Business Tax
• Tax
• UK Business & Entrepreneurs

The developer ended up paying the right amount of tax based on what actually happened, but he paid a high price for not spotting, or being advised of the dangers that occupation of the property would bring.

Stamp Duty Land Tax – Losing the relief

Cetin Suleyman - Managing Partner - csuleyman@goodmanjones.com

Published on 3rd December 2020

Categories:

• Property & Construction
• Tax

Family businesses could see three key areas impacted by changes to capital gains tax proposed by the Office for Tax Simplification

What do the changes to CGT mean for family businesses?

Aidan Roberson - Tax Manager - aroberson@goodmanjones.com

Published on 2nd December 2020

Categories:

• Family Businesses
• Individuals & Families
• Personal Tax
• Tax
• UK Business & Entrepreneurs