25 Jul 2023 | FK news, Tax planning, Trusts
Inheritance tax has been the source of controversy over the past few years. Regularly intruding into fiscal or political debates, these have often caused much heat but little light. In this article, we seek to place this tax into context and describe how it works. The...
11 Jul 2023 | FK news, Tax planning
August 2023 brought us the 14th consecutive rise in interest rate, as decided by the Bank of England. Sitting at a lofty 5.25%, the increase in the rate is just one contributing factor to a challenging economic landscape, for both businesses and individuals. Combine...
20 Mar 2023 | Business owners, Business strategy, FK news, Tax planning
Chancellor, Jeremy Hunt, made his Spring Statement in the House of Commons this week. Setting out the government’s tax and spending plans for the year ahead, the Chancellor delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast...
7 Dec 2022 | Medical, Tax compliance, Tax planning
The key HMRC reform, which only affects unincorporated businesses, such as partnerships and sole traders, involves moving the calculation of business profits from the ‘current year’ basis to a ‘tax year’ basis. HMRC’s measure was originally put forward as a means of...
7 Dec 2022 | Tax compliance, Tax planning
Recently, we published guidance for businesses on the importance of Getting your R&D tax credits right, in part 1 – A Buyer’s Guide. In part 2, we’re letting you know in more detail how the landscape for claiming R&D (Research & Development) tax credits is...
28 Nov 2022 | Tax planning
On 17 November 2022, the government undertook the third fiscal statement in as many months, against a backdrop of rising inflation and economic recession. The Chancellor laid out three core priorities of stability, growth and public services. The government sought a...
