In July 2015, Geniac caused quite the stir in the Accounting World when Grant Thornton announced that they were to invest up to £22m funding in the high growth start-up to access the SME accounting market. Less than 3 years later and their clients have been stunned to learn that the company is to close its doors in April 2018, as Geniac “are not making the progress we wanted”.
You might have heard about Christa Ackroyd in the news recently. The former BBC Look North presenter is facing a tax bill of up to £420,000 after losing a dispute with HMRC, a judgement that could potentially affect others working in similar conditions.
Our Tax partner, Chris Sparkes takes a look at the recent consultation on "patient capital" and the potential for tax reliefs to help entrepreneurs and startup businesses avoid some of the pain of short term investors
We are becoming increasingly aware of more and more sophisticated scams involving fraudsters pretending to be from HMRC. Read this blog to find out how you can stay safe.
The government has been given a strong signal that changes are needed to tackle perceived problems with the so-called “gig economy”. Find out what Chris Sparkes, Ecovis Tax Partner, has to say.
Research conducted by mutual insurer Royal London and YouGov has found that over £400 billion in wealth is held by Britain’s grandparents and it is set to cascade down through the generations to the benefit of Millennials in the coming years.
HMRC has updated its guidance on how to spot phishing and bogus emails seeking your personal information. The key point is that HMRC is a late and reluctant user of emails so it makes sense to look carefully at any email purporting to be from them before opening it, or taking any action requested. Read this blog to find out more.
What is our reaction to yesterday’s announcement that the decision to impose higher National Insurance contributions on the self-employed is being reversed? See Peter Owen's, Ecovis Head of Tax, thoughts in this blog
There are four key areas that, as a Landlord, you need to be aware of as they may have a significant impact on the tax you pay. Read this blog to find out more.
With the end of the tax year almost upon us, the 2016/17 P11D reporting season is looming on the horizon for employers. It won’t lessen the reporting obligations for the 2016/17 tax year, but employers can register with HMRC before the end of this tax year to payroll employee benefits for the 2017/18 tax year. Read this blog to find out more.
Back in the 2016 Budget, the Government announced that it was again considering making changes to the tax treatment of salary sacrifice for benefits in kind. The Government’s policy paper was published in December 2016.
The Commons Treasury Select Committee has recently published its report into the HMRC Making Tax Digital project. The Committee recognised the benefits that could arise from electronic tax reporting, but made strong recommendations to HMRC regarding the income level at which taxpayers would come within the scheme and the timetable for the introduction of the scheme.
In September, Peter Owen, Ecovis’ Head of Tax, laid out the basics of the Governments plans to introduce a new digital tax system. In this article, several concerns are highlighted, including the potential administrative and financial burden that could be imposed on SME’s as a result of the proposed changes. Since then the government has consulted with a wide range of businesses and industries who are concerned about the potential for increased compliance burden and more red-tape.
Highlights of the 2016 Autumn Statement from the Tax experts at Ecovis Wingrave Yeats
We are set for an intriguing Autumn Statement from the new Chancellor. Even if George Osborne had kept his job, the Autumn Statement would have had to deal with the economic fallout from Brexit. Philip Hammond will of course make important announcements on this and has hinted at the potential need to ‘reset’ fiscal policy. That has been interpreted by some commentators as a hint that the government would tone down its commitment to spending cuts.