Tax News

IR35: What you need to know

In April 2017 IR35 underwent some changes that were confined to the public sector. Now the new legislation is set to affect the private sector as well, meaning it’s more important than ever to understand this complex law. Here is what you need to know and why getting the help of an accountant from Berley […]

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Preparing for the accounting year-end

The tax year is coming to an end on 5 April, and so is the business year for many SMEs who have chosen to align their accounting to match the fiscal year. This means they must complete a year-end report on how the company has performed over the past 12 months and then go on […]

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Tax Relief Options When Selling Your Business

Deciding to sell your business brings mixed feelings: on one hand you may feel sad about passing your business on, but on the other hand you probably feel happy about making a successful sale.

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Dealing with probate

Dealing with the administration of an individual’s estate can be a complex and time-consuming experience, which carries with it a number of legal obligations. Here we outline some key elements of the process, as well as suggesting some tax-efficient measures for you to consider as part of your own estate planning strategy. Probate is the […]

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All You Need To Know About The Statutory Residence Test

The government introduced the Statutory Residence Test, also known as SRT, back in April 2013 and the test is designed to decide on your residence status, which helps to determine whether you should pay tax here in the UK or not. There are many grey areas in these rules and although we cover the main […]

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Changes In Stamp Duty Land Tax (SDLT) On Residential Property

Finally some good news in the residential property market. From December 4 2014, HMRC has introduced a new charging structure has been introduced for SDLT – Stamp Duty Land Tax. This could benefit up to around 98% of property buyers and is widely seen as a positive step in updating and long outdated tax scheme.

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Autumn Statement 2014 – Remittance Basis Charge for non UK Domiciled Individuals

If you are a non UK domiciled long-term UK resident Remittance Basis Taxation or RBC, allows you to pay income tax and capital gains tax on your overseas investment income and gains only if these income and gains are brought into the UK and then on an annual basis. The Chancellor had said that the government wouldn’t make any further changes to non-domicile taxation, including the RBC, for the 2010-2015 Parliament. But, that’s not exactly what just happened.

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HMRC Credit Card Sales Campaign

HMRC are on the warpath again This time it is businesses who accept payment by cards and have not reflected all transactions in a return. Predictably, HMRC wants to recover all the taxes payable by companies or individuals who use credit or debit cards to take sales orders. Many businesses use credit or debit cards […]

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HMRC’s Latest Property Crackdown

Earlier in the year we sent emails to client’s regarding HMRC’s ‘amnesty’ of the Let Property Campaign, following on from this . . .

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