Category Archives: UK Business & Entrepreneurs

A Picture of Richard Verge - Tax Director

Against a backdrop of rising costs and inflation Rishi Sunak’s Spring Statement focused on easing the burden for families and businesses

Spring Statement 2022

Richard Verge - Tax Director - rverge@goodmanjones.com

Posted on 24th March 2022

Categories:

The most important thing for companies is to put a structure in place and be strategic about how they manage their currency risk...

Podcast: Managing Currency Risks & Rewards amid Record Inflation

Esther Wood - Partner - ewood@goodmanjones.com

Posted on 17th February 2022

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The Chancellor announced two key changes to R&D; one restrictive and one beneficial

Research & Development: What’s the situation post Autumn Budget 2021?

Graeme Blair - Partner - gblair@goodmanjones.com

Posted on 3rd November 2021

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Welcome announcements included increasing R&D support, extending the higher annual investment allowance limit, reductions in business rates for the high street and increases in the cultural tax reliefs. There were the increases in NI and dividend tax, the new residential property developer tax, the economic crime (AML) levy and the basis period reforms for unincorporated businesses.

Autumn Budget 2021

Richard Verge - Tax Director - rverge@goodmanjones.com

Posted on 28th October 2021

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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

Posted on 6th October 2021

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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

Posted on 30th September 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.

What do parents and grandparents need to know about school fees and education trusts?

Reena Bhudia - rbhudia@goodmanjones.com

Posted on 14th August 2021

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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

Posted 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

Posted on 27th May 2021

Categories:

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Category Archives: UK Business & Entrepreneurs

Against a backdrop of rising costs and inflation Rishi Sunak’s Spring Statement focused on easing the burden for families and businesses

Spring Statement 2022

The most important thing for companies is to put a structure in place and be strategic about how they manage their currency risk...

Podcast: Managing Currency Risks & Rewards amid Record Inflation

The Chancellor announced two key changes to R&D; one restrictive and one beneficial

Research & Development: What’s the situation post Autumn Budget 2021?

Autumn Budget 2021

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.

What do 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

Against a backdrop of rising costs and inflation Rishi Sunak’s Spring Statement focused on easing the burden for families and businesses

The most important thing for companies is to put a structure in place and be strategic about how they manage their currency risk...

The Chancellor announced two key changes to R&D; one restrictive and one beneficial

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