Insights
Our experts provide their insights on the latest industry developments and share tips on accountancy and business matters.
Nicola Sargeant
Tax Director
20 July 2022
Changes to the Trust Registration Service which may require action by TrusteesSince the introduction of the Trust Registration Service, the Anti Money-Laundering Directive requirements have changed and the introduction of the fifth MLD or “5MLD” means action may be required from trustees by 1 September 2022.
Nicola Sargeant
Tax Director
11 July 2022
Health and Social Care Levy to be separate to NICs from April 2023From April 2023, the HSCL will be separate to NIC and will also apply to those over state pension age.
29 June 2022
Are you aware of the tax implications of diversifying your farming business?In recent years, many farmers have considered diversification to improve the viability of their farming businesses. However, some may be unaware that moving away from their traditional farming activity could potentially jeopardise valuable tax advantages that are uniquely available to farming businesses.
10 June 2022
Make sure you’re prepared for the income tax basis period reformAlthough the Government’s reform to income tax basis periods has been deferred by a year, with 2023/24 now being the transitional year with full introduction in 2024/25, unincorporated businesses should start reviewing the implications now.
05 April 2022
How changing land use could affect your tax positionIn the rural sector, the need to combat climate change has given rise to the potential for land owners and managers to receive income from new sources such as payments for carbon capture. This is potentially good news, but there could be some concerns from a tax perspective.
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