Category Archives: Tax

Although this is a welcome announcement I still believe that the landscape of tax, the year-end and basis periods should be considered collectively.

An update on basis period reforms

Graeme Blair - Partner - gblair@goodmanjones.com

Updated on 6th October 2021

Categories:

My perception is the professional bodies have given a wholehearted thumbs down to the proposals and so I would be surprised if the Autumn Statement pushed forward the proposals without modification, or further consultation.

Will the basis period reforms actually happen?

Graeme Blair - Partner - gblair@goodmanjones.com

Updated on 6th October 2021

Categories:

Setting up a trust may be ideal for those parents or grandparents who may wish to save money over a period of time to fund school fees or if they wish to transfer a lump sum as part of their estate planning.

Educating the next generation: What parents and grandparents need to know about school fees and education trusts

Reena Bhudia - rbhudia@goodmanjones.com

Updated on 14th August 2021

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A Picture of Richard Verge - Tax Director

I encourage anyone with an unincorporated business and the year end which is not already aligned with the tax year to contact their accountants to discuss the potential impact of these proposed changes

Will I have to pay more tax next year? Changes affecting partners in professional practices and sole traders

Richard Verge - Tax Director - rverge@goodmanjones.com

Updated on 9th August 2021

Categories:

This is very welcome news and potentially avoids the need for businesses to register for VAT in multiple EU Member States

VAT simplification for e-commerce businesses

Esther Wood - Partner - ewood@goodmanjones.com

Updated on 2nd June 2021

Categories:

Five months into the UK’s new found freedom, the multiple challenges facing businesses trading with the EU are finally becoming clear.

Are we nearly there yet? Where are we on our VAT Brexit journey?

Graeme Blair - Partner - gblair@goodmanjones.com

Updated on 27th May 2021

Categories:

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

Updated on 23rd April 2021

Categories:

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

Updated on 31st March 2021

Categories:

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

Updated on 29th March 2021

Categories:

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Category Archives: Tax

Although this is a welcome announcement I still believe that the landscape of tax, the year-end and basis periods should be considered collectively.

An update on basis period reforms

My perception is the professional bodies have given a wholehearted thumbs down to the proposals and so I would be surprised if the Autumn Statement pushed forward the proposals without modification, or further consultation.

Will the basis period reforms actually happen?

Setting up a trust may be ideal for those parents or grandparents who may wish to save money over a period of time to fund school fees or if they wish to transfer a lump sum as part of their estate planning.

Educating the next generation: What parents and grandparents need to know about school fees and education trusts

I encourage anyone with an unincorporated business and the year end which is not already aligned with the tax year to contact their accountants to discuss the potential impact of these proposed changes

Will I have to pay more tax next year? Changes affecting partners in professional practices and sole traders

This is very welcome news and potentially avoids the need for businesses to register for VAT in multiple EU Member States

VAT simplification for e-commerce businesses

Five months into the UK’s new found freedom, the multiple challenges facing businesses trading with the EU are finally becoming clear.

Are we nearly there yet? Where are we on our VAT Brexit journey?

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?

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?

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

Although this is a welcome announcement I still believe that the landscape of tax, the year-end and basis periods should be considered collectively.

My perception is the professional bodies have given a wholehearted thumbs down to the proposals and so I would be surprised if the Autumn Statement pushed forward the proposals without modification, or further consultation.

Initial thoughts are that companies should be looking at their distributable reserves and considering paying dividends before 6 April 2022 and employers could consider salaries and bonuses before the same date as well.

Setting up a trust may be ideal for those parents or grandparents who may wish to save money over a period of time to fund school fees or if they wish to transfer a lump sum as part of their estate planning.

I encourage anyone with an unincorporated business and the year end which is not already aligned with the tax year to contact their accountants to discuss the potential impact of these proposed changes

This is very welcome news and potentially avoids the need for businesses to register for VAT in multiple EU Member States

Five months into the UK’s new found freedom, the multiple challenges facing businesses trading with the EU are finally becoming clear.

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.

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

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