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    Some relief for FHLs

    For several years now the lack of availability of Business Property Relief (‘BPR’) for furnished holiday lets (‘FHLs’) has been well known and established through cases such as Pawson, Green and Ross. The courts in these cases ruled that the holiday lets were too much of a passive investment to qualify as a business, even […]

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    Corporation tax loss reform

    From 1 April 2017, the tax treatment of certain types of carried forward losses were reformed for corporation tax purposes. Previously, trading losses could only be set against later profits of the same trade and non-trading deficits on loan relationships could only be set against non-trading profits. Carried-forward amounts could not be surrendered as group […]

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  • What is a digital link for MTD anyway?

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    What is a digital link for MTD anyway?

    Should we be wary or embrace the fact that HMRC decided to publish more information on Making Tax Digital on Friday 13th, a date on the superstition spectrum which ranges from being unlucky for some to full on paraskevidekatriaphobia (yes – it is a real word)? Unfortunately the announcements on Friday do not indicate any […]

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    Do the public trust Charities?

    The Charity Commission for England and Wales has recently published some new research into how much the public trust charities. Given the current climate in the sector, the results are perhaps not that surprising. The research found that public confidence in charities is currently 5.5 out of 10.  This compares to 5.7 out of 10 […]

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    Finance Bill Friday…40 clauses plus 16 schedules…

    For many Friday afternoon these days appears to be associated with winding down and easing into the weekend unless of course you are involved in tax!  This time of the week is increasingly being used by HM Treasury for key announcements. On Friday 18 May, the consultation known as ‘Off- payroll working in the private […]

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    Trust in audit – Kingman, Tyrie and Wate

    The Kingman review of the FRC, which is to have a detailed look at whether the regulator can achieve its aims (and indeed what these aims should be) with its current structure and powers, has launched a call for evidence, open until 6 August 2018. The call for evidence launches quickly into the concerns raised […]

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    MTD for VAT and the digitally excluded

    I’ve recently been travelling around the country presenting about Making Tax Digital. The idea for this article came from the numerous accountants who shared their concerns about how MTD for VAT will affect their clients who, for various reasons, are unable to use the internet.  Such people are often described as ‘digitally excluded’. Background Such […]

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    Liquidations beware

    The government has become concerned about companies being run for a short period of time, liquidated and then the trade restarted in another business vehicle. In order to address this, a new Targeted Anti-Avoidance Rule (TAAR) has been introduced which applies to certain company distributions in respect of share capital in a winding up. This […]

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    Mobile-First Indexing from Google

    Google has announced the introduction of their new mobile-first indexing system. This new update is an extension of their current system and doesn’t change how Google ranks content, but rather how they search for content on each individual site. The majority of Internet usage is through mobile devices; Google’s mobile-first indexing will mean that mobile-friendly […]

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    Money Laundering: Criminal record (DBS) checks for BOOMs

    Many of you will recently have received a letter from ICAEW, or whoever your supervisory body is for money laundering purposes, regarding the need to carry out criminal record checks (called DBS or Disclosure and Barring Service checks) for all of the “BOOMs” in your firm. A BOOM is one of the following, with the […]

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    ESFA introduce related party transaction monitoring and pre-approval for academies from 1 April 2019

    June 2018 has seen the ESFA publish both its Accounts Direction for the August 2018 reporting period and its Academies Financial Handbook, effective 1 September 2018. Both documents contain a number of clarifications and updated requirements, though updated rules around academy trust related party transactions will likely get a fair degree of attention in the […]

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