News

With the rising cost of living, protecting your income has become increasingly important. So, what would you do if you were unable to work due to a long-term illness or injury and your income dropped, or worse, stopped?

The UK government has announced that they are going to issue a consultation on the use and effectiveness of Employee Ownership Trusts (EOTs). The focus seems to be ensuring these are primarily being used to incentivise employees.

When we hear the phrase ‘Trust Fund’, many of us think of the kind of vehicle which enables children of the mega-rich enjoy lives of luxury. But in fact, trusts can be a hugely useful way of organising your assets and ensuring that your wishes are carried out – in a tax-efficient way – after your death.

Locals and holidaymakers will be able to enjoy a cleaner beach at Gorleston thanks to the efforts of a team of litter-picking local accountants.

In the same way that limited companies have to file an Annual Return to Companies House each year confirming and/or updating their details, charities are required to file an Annual Return to the Charity Commission.

In the Chancellor’s Autumn Statement on 17 November 2022, he announced that Capital Gains Tax (CGT) allowances will be reduced from April 2023 and then further reduced from April 2024.

All charities rely on individuals who are willing to give their time and skills to act as trustees. Now a new online initiative from the Charity Commission has been launched to provide better support for trustees – and it’s a good idea for anyone on a charity’s board to sign up.

From 1 April 2023, there will be a new financial year and as always this comes with a range of changes to the regime of tax applied to companies in the UK.