Are our tax rates too high and unfair?

Are our tax rates too high and unfair?

Whilst it’s up to the government of the day to set the tax rates for the nation, tax accountants encounter the impact and effect of tax rates on their clients. In recent times, the inexorable increase in taxation is causing real issues to the competitiveness of...
What can the Platinum Jubilee teach businesses?

What can the Platinum Jubilee teach businesses?

How wonderful for us as a nation to celebrate the Platinum Jubilee of HM of the Queen. I well recall the Silver Jubilee of Her Majesty in 1977. I was living as a student at the time in Manchester and many of our buses were re-painted silver in colour and very smart...
How will 2022 end for you?

How will 2022 end for you?

On New Year’s Day, I was listening to Lyse Doucet on BBC Radio 4 ask some of the BBC’s top journalists to gaze into their crystal balls and predict what 2022 might have in store.  It was a fascinating insight from some great journalists. What surprised me most...
How can I bring innovation to my business?

How can I bring innovation to my business?

Bringing innovation to the business is one of the hardest things a business leader has to do. Babatope Ipinyomi, of The Change Lead, invited me to be a guest on his ‘Change Lead’ podcast. Our wide-ranging conversation focused on encouraging innovation in business. We...
What can Gareth Southgate teach us all?

What can Gareth Southgate teach us all?

The success of the England football team in beating Denmark 2:1 in the Euro 2020 semi-final at Wembley was remarkable. Whatever the outcome of the final against Italy (a formidable team), England can be proud to have reached the final. So what can Gareth Southgate...
Mistakes in tax returns

Mistakes in tax returns

The initial problem A taxpayer made some mistakes in his tax returns (filed under self-assessment) by omitting a P60 and some P11Ds and by being oblivious to the High Income Benefit Charge (HIBC). Although it is obviously always wrong to omit a P60 from a tax return,...
When tax advice goes wrong…

When tax advice goes wrong…

This is an updated version of a previous case study of September 2020. Mistaken tax advice given in innocence An individual approached us at SME Strategies in some despair. He and his wife had been given tax advice by a previous accountant to move rental properties...
HMRC enquiry into undeclared overseas income

HMRC enquiry into undeclared overseas income

A taxpayer approached us through a mutual contact after receiving a letter from HMRC saying they were opening an enquiry into personal undisclosed overseas income. The client’s own accountant was not familiar with HMRC enquiries into overseas income and suggested a...