New appointments as Kilsby Williams continues to grow
Qualified accountant Ffion Clarke has been appointed as a manager in the business services team and will be responsible for preparing the accounts for her portfolio of clients. Ffion said: “I am thrilled to be a part of Kilsby Williams, joining at an exciting point of growth for the firm. I am looking forward to […]
Residence, Domicile and the Remittance basis
Many of you will have seen the Sunday Times article reporting how Lord Alan Sugar allegedly tried to avoid UK tax by leaving the UK for Australia. It has been reported that, having taken a £390m dividend from his company in 2021, Lord Sugar tried to declare himself a non-UK resident for tax purposes (as […]
Stealth Tax – the impacts
Such is the case with the government freezing the tax thresholds. According to the Resolution Foundation, the upshot of the freeze between the years 20/21 to 27/28 will amount to £25bn – this is compared to the £9bn forecast when it was announced in March 2021. The biggest change is no change at all! The […]
Trustees’ legal obligations – The Trust Registration Service.
A major change occurred in January 2020, so that all express trusts (taxable and non-taxable) and some non-resident trusts that were in existence on or after 6 October 2020, were required to register on TRS by 1 September 2022, or within 90 days of their creation if later. The obligation to register lies with the […]
Falling house prices, are you considering selling? – Principal Private Residence guidance
One area to consider is eligibility for private residence relief, commonly referred to as principal private residence (PPR) relief, which can either eliminate or reduce capital gains tax. PPR relief may exempt all, or part, of a gain arising on a property that has been used as a home. A gain may arise if there […]
Company ownership of furnished holiday letting properties
In this squeezed market, rather than increase rent, some landlords have tried to be a bit more creative to protect their bottom line, for example by incorporating their property portfolio into a company to escape income tax interest restrictions and shelter profits, or by changing from long-term letting to short-term holiday letting which is generally […]
What do the next 12 months hold for the UK tax system?
Insights from Kilsby Williams’ Tax Associate Rob Meredith Whilst we are still unsure when this will be, there is a sense that the prime minister will call it in autumn 2024 to give himself as much time as possible to achieve this government’s five key priorities, and to improve the Conservative party’s polling. Details are […]
