Autumn Budget 2024 – A Budget for growth? The proof will be in the pumpkin

Orange pumpkins

Most of what was said was expected but there will be disappointment from business owners that they will need to stump up more than had been trailed. As well as the rate of employers’ NICs increasing from 13.8% to 15%, the threshold at which the NICs become payable has been reduced from £9,100 to £5,000 […]

PAYE – references and deadlines

A woman uses a calculator and laptop to work out payroll

For employers paying electronically, the deadline for payments to reach HMRC is the 22nd of each month following the end of the tax month on the 5th. However, if the 22nd falls on a weekend or bank holiday, the payment deadline is brought forward to the previous working day. It is therefore essential to schedule […]

New appointments strengthen audit and accountancy team at independent firm

Four employees stand in front of purple and blue walls. There are two senior male employees sat in front of them at a white table

Channa Wijesekera joins Kilsby Williams from one of the ‘Big Four’ global accounting firms and will use his external audit, internal audit and special assignments experience to support the firm’s audit specialists as a senior. Channa said: “I am very grateful to all the Partners of Kilsby Williams for the opportunity given to me. It […]

Changes to the taxation of non-UK doms – an update

A yellow bag and blue suitcase in front of a blue wall

While she was speaking, her colleagues at the Treasury published a policy paper providing an update on the planned changes to the UK’s taxation of so-called non-doms. As a reminder, the remittance basis of taxation currently gives UK tax resident non-doms (i.e. individuals living in the UK but who have not decided to live here […]

The VAT is out of the (school) bag

A desk in a classroom with books, pencils, ABC blocks and an apple on it.

Since coming to power there has been much debate on how and when the exemption would be removed. On 29 July the Chancellor Rachel Reeves made a statement to parliament and the Treasury published draft legislation to finally let the cat out of the bag on this. The key elements of the changes are as […]

The General Election – more than just words

A Downing Street sign on a brick wall.

After all the predictions and hype, Rishi Sunak stood in the rain in Downing Street and asked us to decide our future on 4 July. There have been many words spoken and written since then and, as the tit-for-tat campaigns plough on, the polls continue to indicate that we will wake up on 5 July […]

Buying to Let? Company or no company?

An office with blue, grey and white chairs, tables and stools.

One of the biggest considerations is whether a limited company should be set up as a vehicle for your investment. Many self-proclaimed “property gurus” today claim a company should always be set up before investing, but this is not the best route for many. Whilst a company has the potential to provide significant tax savings […]

Furnished Holiday Let tax regime abolished

A beach view. There are coloured holiday cottages in the background.

When the FHL rules are abolished on 6 April 2025 all properties previously qualifying as FHLs will convert to being taxed as long-term residential let properties. Below is a list of tax benefits available to individual owners of FHL properties and the corresponding tax treatment of long-term residential let properties: FHL Long-term Residential Letting   […]

Kilsby Williams enhances leadership team

A group of men and women in business attire, some sitting and some standing

Lucy Creese, Stuart Evans, Dafydd Ford, Rob Meredith and Kaye Morris are being promoted from within the firm’s fast-growing commercial Tax, Growth and Transactions departments; while Huw Sheppard from the Audit and Accountancy and Payroll teams completes the leadership group. This is an incredibly exciting time for our business which will ensure we can continue […]

Tax Residence and Domicile: a brief look into the future.

An aerial view of London featuring Tower Bridge and the Shard.

As things stand, individuals who are both UK domiciled and UK tax resident are subject to UK income tax on their worldwide income and capital gains (subject to mitigations and reliefs designed to avoid double taxation). If someone is UK tax resident but ‘non-dom’ however, they can choose for non-UK income and gains to be […]