12th March 2024 Featured Post

Date: 12 March 2024 In his Budget of 6 March 2024, Chancellor Jeremy Hunt announced significant changes to the non-dom regime – effectively abolishing the need to reference domicile in tax law by replacing it with a residence based test for those who have not been UK tax resident in the last ten years (the […]

10th April 2023 Featured Post

Basis period reform explained In 2021, HMRC announced reforms to the basis period rules that will be relevant to the following businesses: Sole traders Partners of an unincorporated partnership or LLP Trading trusts and estates Non-resident companies with profits charged to income tax For short hand, we hereinafter refer to these businesses as “non-corporate businesses”. […]

6th December 2021

HMRC are now receiving lots of data from overseas jurisdictions via the Common Reporting Standard (CRS), from the Land Registry and from Companies House and are seeking to use this data to check that UK taxpayers have correctly reported their income and gains. Without the manpower to check all of the data themselves, they are […]

7th September 2021

Today, Boris Johnson announced the long anticipated new levy to help the crisis in the healthcare service. The aim is to raise an additional £12bn per year and this will be done by two separate taxes. Dividend tax rates are set to increase by 1.25% and will be legislated for in the upcoming finance bill. […]

19th August 2021

The fifth Self-Employment Income Support Scheme (SEISS) grant is opening for claims and available to those who believe their business profit has been impacted by Covid-19 between 1 May 2021 and 30‌‌ ‌September 2021 (and meet the eligibility criteria). The final day that claims can be made is 30 September 2021. While we can’t make […]

13th August 2021

According to the latest ICAEW Business Confidence Monitor (BCM) published recently, business confidence has hit its highest level since the survey was launched 17 years ago. Sentiment tracked by the BCM found optimism at 38.5 on the quarterly index. The record reading for the second quarter of 2021 signals that a large majority of companies […]

13th August 2021

At the beginning of June, the OTS (Office of Tax Simplification) published a document setting out the scope of a new high-level exploration of the benefits, costs and wider implications of changing the date of the end of the tax year for individuals. The review will focus on the implications of moving the tax year […]

14th June 2021

While our team is traditionally busy supporting clients with submitting their Self Assessment returns ahead of the 31 January deadline, we always encourage them to get their information to us in good time. This gives us the opportunity to ask any additional questions and make sure we have all the information we need. We are […]

14th January 2021

On Friday 8 January, Janet Pierce, Founder and Principal at Charter Tax was a guest speaker at Ward Goodman’s first ‘WG Hub Live’ event of 2021, where a panel of experts discussed ‘Trade After Brexit’. As ever, the event was hosted by Ian Rodd from Ward Goodman, who introduced the other speakers – Simon Heath […]

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