Blog

  • Robin beadle
    20th May 2022

    New Current Year Basis

    For the self-employed and partnerships, whilst the tax year ends on 5 April annually, you are entitled to use whatever accounting year you like.  Put simply, the accounting year end that finishes in the tax year provides the assessed profits for that tax year.  This of course means that someone with a year-end of 5 April 2020 has his profits assessed in 2019/20 whereas someone making his accounts to 30 April 2020 has his profits taxed in 2020/21.

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  • 16th May 2022

    Business finance update

    Corporate Finance Manager Ben Croston, provides an overview of topical financial matters including the latest data release from the Office of National Statistics.

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  • 3rd May 2022

    Holiday let small business rate relief

    The letting of holiday accommodation in the UK continues to be a buoyant sector. Arguably it has been bolstered in the last few years by the pandemic, resulting in many people choosing to holiday in the UK rather than travelling abroad.

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  • 25th March 2022

    Capital Gains Tax Rollover Relief

    As rural businesses continue to evolve on the back of changing Government support payments and the ever changing economic landscape, we will continue to see continued property sales as rural businesses restructure for the future.

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  • Robin beadle
    18th March 2022

    Intestacy Rules

    Over half of adults in the UK do not have a valid Will.  This means that when they die, their assets are distributed in accordance with the Intestacy Rules which can cause all manner of problems if assets are sent to undeserving members of a family or, for example, a substantial inheritance is left to teenage adults without any control.

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  • 10th March 2022

    The importance of thorough family discussions

    As the second successive year of reduction in Basic Payment starts to bite, with further reductions to come before abolition of the payment, more and more farming families are turning their thoughts to future diversified activities and succession of the business. This will include management of the different elements of the business but also to ownership of the underlying properties and other assets.

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  • 18th February 2022

    Planning ahead for the next tax year

    As we reach the end of another tax year, here are a few last minute tips that might save you some tax before 5 April 2022.

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  • 15th February 2022

    The 7 questions to ask when creating a Local Authority Trading Company

    The consideration of the long-term goal for the LATCO is vital to its success and being clear on this question is key.

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  • 15th February 2022

    The most common pitfalls of Local Authority Trading Companies – Structure

    Over the course of the last few years most if not all local authorities have considered or created wholly owned Local Authority Trading Companies (LATCO’s).
    These LATCOs have normally been created to service specific needs within the community or to create a good investment vehicle which can return profits and dividends to the council in future.

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  • Photograph of Hugh Simpson
    9th February 2022

    Year-end tax planning for farmers and agricultural businesses

    The 2021 Harvest, although a little stop-start, generally saw better yields and combined with the current high prices could make for a fairly profitable year (before the bite of the higher fertiliser prices). There are various opportunities in the short window up to 5 April 2022 for farmers and farming businesses to take that may reduce the tax liabilities.

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