What does the Queen’s Speech mean for employment law?
The Queen’s Speech 2019 outlined several Brexit-related Bills, including an Immigration and Social Security Co-ordination (EU Withdrawal) Bill, designed to end free movement ... Read More
New £20 note unveiled
The Governor of the Bank of England, Mark Carney, has unveiled the design of the new £20 note featuring the artist JMW Turner. The new note will be launched on 20 February ... Read More
National Living/Minimum Wage entitlement
A reminder that the current National Minimum Wage (NMW) and National Living Wage (NLW) rates came into effect on 1 April 2019. The NLW is the minimum hourly rate that must be paid ... Read More
Who is eligible for 10% tax on business sale?
Entrepreneurs' Relief (ER) can be valuable relief when selling your business, your shares in a trading company or your interest in a trading partnership. Where ER is available, ... Read More
Tax if you return to the UK
There used to be a form that had to be completed advising HMRC if you were returning to live in the UK from another country. Whilst this form was abolished some time ago, there are ... Read More
Provisional date announced for Autumn Budget 2019
The Chancellor of the Exchequer, Sajid Javid, has announced that he is planning to hold his first Autumn Budget 2019 on Wednesday, 6 November 2019. However, this date is based on ... Read More
Gifts in anticipation of marriage
There is a special exemption from Inheritance Tax for cash gifts made on or shortly before the date that the relevant wedding or civil partnership ceremony takes place.
The amount ... Read More
Definition of a Welsh taxpayer
The start of the 2019-20 tax year marked a fundamental change to the way Income Tax is calculated for people who live in Wales. The new Welsh rates of Income Tax (WRIT) is payable ... Read More
Definition of a Scottish taxpayer
The Scottish rate of Income Tax (SRIT) commenced on 6 April 2016 and is administered by HMRC on behalf of the Scottish Government. The SRIT is payable on the non-savings and ... Read More
Simplified import procedures
HMRC has automatically registered many businesses to use simplified import procedures should the UK leave the EU without a deal on 31 October 2019.
The scheme, called the ... Read More
Changing your company’s year end
There are special rules in place which limit your options to change your company’s year-end date. A company’s year-end date is also known as its ‘accounting ... Read More
What is the Inheritance Tax residence nil rate band?
The Inheritance Tax residence nil-rate band (RNRB) came into effect on 6 April 2017. The RNRB is a transferable allowance for married couples and civil partners (per person) when ... Read More
What is Capital Gains Tax incorporation relief?
If you own a business as a sole trader or in partnership, a Capital Gain will arise if your business is transferred into a company structure. The gain will be assessed by reference ... Read More
Overdrawn directors’ loans
An overdrawn Director’s Loan Account is created when a director (or other close family members) 'borrows' money from their company. Many companies, particularly ... Read More
When overseas companies need to register at Companies House
An overseas company must register with Companies House if they want to set up a place of business or branch in the UK. Generally, this would be if the overseas company had a ... Read More