Keep up to date with the latest news and information from UHY Hacker Young in Letchworth, Huntingdon and Cambridge.
Tis the season of gifts
November 7, 2018
Many people will be making gifts to family members this festive season, but many are not aware of the potential Inheritance Tax implications.
What is a Family Investment Company?
August 29, 2018
Over the last few years, a combination of legislative changes have prompted asset rich families to look for alternative tax efficient ownership structures and this blog is designed to provide an introduction to one such structure, the Family Investment Company.
CEST si bon – au contraire, HMRC cowed by MOO!
July 18, 2018
HMRC have recently published a short paper on why the Check Employment Status for Tax (CEST) service does not take account of mutuality of obligations (MOO).
Constructing a defence against VAT fraud
July 10, 2018
The aim of the proposed rules is to deny access to the output VAT by any elusive subcontractors and put accounting for the VAT in the hands of, hopefully, more responsible contractors.
Inheritance Tax band relief could save individuals up to £140,000
June 28, 2018
The Residence Nil Rate Band (RNRB) was brought into effect from 6 April 2017 at £100,000 per taxpayer. It is being incrementally increased throughout the three subsequent tax years to a total relief of £175,000 as at 6 April 2020. Up and down the country property prices are on the rise and this relief could be even more welcome in years to come.
How the law ‘protects the widow’
May 17, 2018
Whilst English law still has no compulsory heirship rules like those which exist in many countries on the continent, we do have the Inheritance (Provision for Family and Dependants) Act 1975. This provides a basis for claims against an estate by close family members or persons who were maintained by the deceased but...
From Xero to Platinum!
April 12, 2018
Following on from being recognised as one of five accountancy firms out of 22,000 shortlisted for Xero Accounting Partner of the Year award in November 2017, we have now been awarded Platinum status. This is the highest partner status, with only 2% of accountants in the UK able to wear this badge.
Shareholders’ agreement – do I need one and who will it benefit?
March 29, 2018
This is a very common question asked by some businesses I interact with. My answer is always - you are asking the wrong question.
Is staff entertaining a regular cost for your business?
March 26, 2018
Under the current rules a company can spend £150 per employee, per year, on annual staff events, such as a Christmas party or Summer barbecue, without the company or the employee suffering tax charges.