September 2024
Why family investment companies are better than trust structures for UK tax
Choosing the right vehicle is crucial when considering how best to manage and protect family assets, particularly in the UK. Traditionally, family trusts have been the preferred option, but in recent years, family investment companies (FICs) have become a more beneficial structure for many families. This article will explore why FICs are increasingly preferred over […]
Incorporate your crypto wallet
Introduction As cryptocurrencies like Bitcoin and Ethereum gain greater acceptance in the UK, we are seeing a growing number of investors exploring advanced strategies for managing their crypto holdings. One such strategy could involve transferring personal assets into corporate structures as part of an overall investment strategy. This may offer certain tax and legal benefits, […]
Disclosure of the case to HMRC
Introduction We were contacted by a client who recently realized that they had incorrectly declared their workplace pension contributions on their tax return. Although the degressive provisions were taken into account, he had not calculated or declared the annual allowance (AAC) which applies when the total contributions exceed the annual allowance. Issue Our client had […]
Capital gains tax and autumn 24 budget
Introduction With the Labor government pledging not to increase income tax, national insurance or VAT rates in its election manifesto, speculation is growing over whether further Taxes (such as capital gains tax) could be subject to adjustments in the coming months. Fall budget on October 30. Possible tax increases! Chancellor Rachel Reeves has highlighted the […]
Tax Partner Pro – Answer to your question on September 24
Q I have a question regarding our client, who sporadically exports physical and digital goods to the EU and US. In the past, he sent a package to Poland without charging VAT, because it was a B2B sale. By the time the package arrived in Poland, it was stopped by customs, resulting in our customer […]
Understanding the Residential Tenancies (Wales) Act 2016
Being a landlord in Wales can be challenging, from keeping up with changing regulations to ensuring you stay compliant with the law. On 1 December 2022, the Renting Homes (Wales) Act 2016 came into force and replaced certain provisions of UK law (such as the Housing Act 1985 and the Housing Act 1988). It also […]