Five years after HMRC appealed an IR35 case defeat carrying £243,324 in tax liability, judges have instructed this long-running saga to be reheard despite the work having taken place 14 years ago. IR35 specialist, Qdos, said the situation “smacks of unfairness” and highlights the “nuances and complexities of the IR35 legislation”. In 2019, IT contractor, […]
When considering possible exit routes for your business, selling to an Employee Ownership Trust (EOT) can have several benefits, but a word of caution, this is not an exit route that can just be unilaterally imposed on your management team. I recently met with a business owner who had decided that sale to an EOT […]
Owen Hewitt, a trainee chartered accountant at haysmacintyre, finds himself amidst a unique cohort of accountants poised to integrate artificial intelligence (AI) into their daily routines from the onset of their careers. Two years into his training, Hewitt anticipates AI’s potential to alleviate the tedium of certain job aspects. According to Hewitt, AI’s role primarily […]
A tax avoidance promoter whose schemes were used by locum doctors and nurses faces a £900,000 penalty for failing to co-operate with HM Revenue & Customs. IPS Progression Limited (IPS) paid their 1,593 scheme users largely with tax-free loans between April 2016 and April 2018. Some of the workers were locum doctors and nurses whose […]
Who and what data you trust in business is important and increasingly audits are being used to provide confirmation of the facts – whether to shareholders, potential investors or banks. An audit is a statutory requirement for many businesses and is often performed on a voluntary basis by firms who do not otherwise have a […]
The British Isa, proposed by Chancellor Jeremy Hunt, aims to encourage investment in UK-focused assets by offering an additional £5,000 allowance on top of the existing £20,000 annual Isa allowance. Here’s what we know and don’t know about it: What we know: – The British Isa is expected to be a separate account, providing investors […]
The Chancellor, Jeremy Hunt’s 2% National Insurance (‘NIC’) cut may not be as generous as he proclaimed at last week’s Spring Budget. Nimesh Shah, CEO of tax and advisory firm Blick Rothenberg firm, said: “The £10bn splurge on the 2% NIC cut was hailed by the Government as offering the lowest effective personal tax rate […]
Chancellor Jeremy Hunt’s proposed reforms, outlined in the Spring Budget, signal a potential surge in pension fund investment, particularly in UK-listed equities. The focus on compelling pension funds to disclose the geographical breakdown of their assets aims to address the industry’s reluctance to support domestic companies. With the Treasury’s plan to require defined-contribution pension funds […]
Breadcrumb Trail Links Finance Banking All but one of the big six beat expectations despite growing loan loss provisions Get the latest from Barbara Shecter straight to your inbox Sign Up Canada’s six big banks appear to be weathering a softening economy brought on by higher interest rates. Photo by Peter J Thompson/National Post Article […]
For several decades received wisdom has told us that property investment is the best way to watch your wealth grow. There’s something powerful about investing in a tangible asset you can touch, see and control. Contrast this with purchasing shares in a conglomerate that is intangible, but can – entrusted to a financial expert – […]