IR35 Reform

During the Budget speech last year, the Chancellor described the measure as a means of tackling perceived high levels of non-compliance with IR35 among the self-employed, stating, “Widespread non-compliance also exists in the private sector. So following our consultation, we will now apply the same changes to private sector organisations as well. But after listening carefully to representations […]

VAT & Business Cars

PRIVATE MILEAGE IN BUSINESS CARS Fuel Scale Charges are used to account for VAT on the private use of cars. The rates for VAT returns beginning on or after 1 May 2019 and the figures for the VAT due and net values for monthly, quarterly returns and annual returns are shown below. BUSINESS MILEAGE IN […]

The benefits of using a trust

What are the benefits of using a trust? Most of us can look forward to many years of retirement and use pensions as a tax-efficient way of saving for life after work, so it’s important to be aware of what happens to a pension fund on death. Changes to tax rules and the pension freedoms mean a […]

Trust Registration Service (TRS)

The Trust Registration Service (TRS) is a new online service set up by HM Revenue and Customs (HMRC) to allow trusts and complex estates to meet their registration obligations and obtain their self-assessment unique tax reference (UTR). The TRS replaces the paper 41G form (trusts), which are no longer available from HMRC. The TRS has been introduced to meet the […]

Using a trust to protect your assets

Using a trust to protect your assets In later life, many of us are keen to ensure our home and other assets are not sold to pay for care, should the need arise. A growing number of people are also keen to protect their estate from inheritance tax, probate fees and claims from creditors or ex-spouses. Essentially, they […]

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