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Focus on IHT

Posted on: June 21st, 2017 by Sarah Curzon No Comments

What is Inheritance Tax (IHT)?

IHT may be payable on an individual’s estate on death or on certain gifts made during their lifetime. IHT is payable on chargeable transfers of value made by a person during their lifetime or on the value of their estate on death. For IHT purposes when a person dies they are deemed to have made a transfer of all their property. Although some people may become liable for IHT during their lifetime on any chargeable lifetime transfers, the majority of people will only become liable to pay IHT on their death. (more…)

SRA publish draft of new Accounts Rules

Posted on: June 21st, 2017 by Luke Stevens No Comments

The SRA has published its response to the June 2016 “Looking to the Future: Accounts Rules Review” consultation. This is the third and final phase of the review of the Accounts Rules. Included within the response documents is a new draft of the Solicitors Accounts Rules 2018.

The SRA have certainly simplified and shortened the rules. Whilst the rules currently in force are some forty pages long, this new draft contains 13 rules and is just 7 pages long! (more…)

5 Reasons why Making Tax Digital will actually be good for businesses

Posted on: June 21st, 2017 by Sarah Curzon No Comments

Making tax digital (MTD) is coming and businesses are going to have to do it. Yes it means sending into HMRC information on a quarterly basis and yes you have to keep records digitally but let’s see this as a positive change to your business.

If you keep your bookkeeping up to date then you won’t have a problem submitting the information required under MTD. As Software will be there to do the submissions for you, then actually, the main issue is keeping the records up to date. (more…)

Motor Dealer Report 2017 – Now Available

Posted on: June 20th, 2017 by Matthew Thomas No Comments

Our Motor Dealer Report 2017 shows that the sector is resilient, despite Brexit and profitability concerns driving a pessimistic sector outlook for 2017.

The report covers the Current Outlook, The Future, including on-line retail, Alternative Fuel Vehicles (AFVs) and the future of car dealerships in general, and the M&A Outlook. The report also features the Dealer View from Trevor Reeve, Pentagon Chairman, the Manufacturer View from Paul Flanagan, former Renault/Dacia MD UK and Ford MD France and expert commentary from Sue Robinson, Director at the NFDA. (more…)

12 Steps to Help You Prepare for GDPR

Posted on: June 19th, 2017 by Joanne Taylor No Comments

The EU General Data Protection Regulation (GDPR) will come into force across all members states (including the UK) on 25 May 2018. As the EU is the UK’s largest trading zone the UK will still be expected to adopt the GDPR, or something very like it, regardless of the eventual deal reached by UK Government as part of Brexit negotiations. So it is vital that UK businesses start to prepare for the changes that are coming.

The additional compliance requirements may be viewed as a burden, even costly and disruptive, however businesses regardless of size should also view GDPR as a great new opportunity to enhance their information security practice from technical, governance and legal perspectives.

To help prepare for GDPR here are 12 steps that the Information Commissioner’s Office advises that you take now: (more…)

Industry 4.0 Risk Evaluation

Posted on: June 12th, 2017 by Ian Thomas No Comments

The manufacturing industry is evolving at a significant pace, the need for increased flexibility, efficiency and speed of production has evolved into what we now refer to as Industry 4.0, or the Fourth Industrial Revolution. The smart factory, with intelligent networks where everything from the assembly line to goods outwards is connected, autonomously exchanging information and triggering actions, is becoming the norm. Whilst this revolution can be extremely beneficial in increasing efficiency, it also brings with it new risks that business owners need to consider. (more…)

Is Incorporating the Right Choice for You?

Posted on: June 12th, 2017 by Seamus Gates No Comments

Hot on the heels of the Budget, the questions being asked by many partners at solicitor practices across the country are, “Should we consider incorporation to obtain limitation to liability or not?” and, “What are the consequences now?”

The majority of the legal practices that we see are predominantly partnerships and partners are looking at how to structure their practice in order to attract and obtain potential future partners. (more…)

Taxation of Interest and Dividends – Are you aware of all the new rules and allowances?

Posted on: June 1st, 2017 by Leighton Reed No Comments

The tax regime for interest and dividends changed with effect from 6 April 2016 so the 2016/17 tax year is the first time you will see these changes.

(more…)

Are charities making effective use of resources?

Posted on: June 1st, 2017 by Sarah Case No Comments

You should now be 6 months into “keeping your charity on the right track”.  Any improvement that has been made to the governance of your organisation in this time will have been worthwhile and beneficial to the organisation.

This month our focus is on making effective use of your resources. It focuses on investments, banking and property and how the trustees should aim to maximise the benefit from these areas, whilst keeping the charity away from unnecessary risk. (more…)

Finance Bill 2017 – all change?

Posted on: June 1st, 2017 by Leighton Reed No Comments

Finance Bill 2017 has now been passed, but with only 148 of the original 762 pages. Almost 90% of the tax legislation we were expecting to be passed has now been delayed. So what has changed?

In short – the general election. As Parliament was dissolved on 3 May in advance of the election it was agreed to hold over much of the more complex technical legislation. This means more time and consideration can be given to the proposals rather than rushing through the stages required to turn them into legislation.

(more…)

Latest From The Blog


Focus on IHT

What is Inheritance Tax (IHT)?

IHT may be payable on an individual’s estate on death or on certain gifts made during their lifetime. IHT is payable on chargeable transfers of value made by a person during their lifetime or on the value of their estate on death. For IHT purposes when a person dies they are deemed to have...

Read more

SRA publish draft of new Accounts Rules

The SRA has published its response to the June 2016 “Looking to the Future: Accounts Rules Review” consultation. This is the third and final phase of the review of the Accounts Rules. Included within the response documents is a new draft of the Solicitors Accounts Rules 2018.

The SRA have certainly simplified and shortened the rules. Whilst the rules currently in force...

Read more