Current Issues

The UK independent film tax credit (IFTC) was initially announced in the 2024 Spring Budget. In October, the UK’s Labour government confirmed its go-ahead and issued further information.

The Employment (Allocation of Tips) Act and a Statutory Code of Practice came into force on 1 October 2024. They will impact businesses, their employment policies and payroll systems across the leisure and hospitality sectors.

How to be tax savvy with your charitable giving and help charities gain more from your donations.

In this issue we cover the latest FCA developments and guidance notes for the sector.

Fraudulent letters pretending to be from HM Revenue & Customs are being sent to businesses and should be ignored.

Important factors UK residents need to be aware of to minimise tax liabilities.

Many businesses are moving to online accounting as it brings a number of practical benefits and helps compliance with HMRC's Making Tax Digital

Changes to student loans in 2023 may have increased the debt burden for some graduates. We look at what families can do to help.

A handy summary of the residence nil-rate band in relation to inheritance tax

In the second of our two-part series on family trusts, we look at some further tax advantages of trusts and share an example.

In the first of a two-part series of articles, we look at the types of trusts and where they can be useful.

Many of us want to give some of our assets to loved ones, but inheritance tax (IHT) rules can be confusing.

More and more estates are now subject to paying inheritance tax (IHT), but much can be done to mitigate liability by using the available allowances.

In this article we explain the qualifying criteria for Private Residence Relief. This relief enables some people not to have to pay Capital Gains Tax on the increase in the value of their home over the time they owned it.

Following Chancellor Rachel Reeves' statement to the House of Commons on 29 July, we summarise the key takeaways and look ahead to what fiscal and accounting implications are on the horizon.

The Construction Industry Scheme (CIS) was introduced many years ago to combat tax fraud in the construction industry. In the past year, the Scheme has undergone several changes.

It’s now compulsory for unincorporated businesses to conform to new income tax basis period rules – a change that could significantly impact cash flow for some.

We discuss the potential implications for businesses and individuals, now the electoral map has shifted.

In their Summer update, Shipleys VAT specialists touch on VAT compliance developments relating to energy-saving materials installations, cosmetic surgery, the DIY Housebuilders Scheme and more.

In their latest update our Payroll specialists discuss holiday pay reforms and national minimum wage increases

In their annual celebration of the accountancy profession’s rising stars, Accountancy Age has announced that Shipleys' Principal, Hannah Van Ross, is one of its winners.

The NIC rates reforms are now live, but a legacy issue from a glitch in the National Insurance Contributions system is still a cause for concern for the self-employed.

In this bulletin, we discuss The Charities Act 2022’s final set of changes in March, the latest guidance for accepting, refusing and returning donations and The Financial Reporting Council’s latest review of Charities SORP FRS 102 (Third Edition).

In this issue we cover the latest FCA developments and guidance notes for the sector.

Our property specialists give a round-up of the latest developments and tax changes for property owners