Businesses may be able to reclaim significant amounts of National Insurance Contributions (NICs) and plan for future savings because of a recent Tribunal ruling on how car allowances are taxed. Brought by Wilmott Dixon and Laing O’Rourke in their capacity as employers, the Tribunal upheld the firms’ argument that car allowance payments should qualify for […]
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Are you a sole trader, a member of a partnership or LLP? Here is what you need to know about the upcoming tax basis period reforms. HM Revenue & Customs (HMRC) is introducing changes to how it assesses and collects business taxes relating to the basis period. At the end of the 2023/24 financial year, […]
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For MGI Worldwide, collaboration and global connections are a vital part of what we do and we are incredibly proud of our global network. Jonathan Farrow, a partner at MGI Worldwide, recently embarked on a series of international trips that exemplified this collaborative spirit. His journey took him to Prague, Bangkok, and Belgrade, each visit […]
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Joining a select handful of UK firms, MGI Midgley Snelling LLP has secured the sought-after ESGmark – a leading industry benchmark for firms delivering a fairer future. Recognising organisations which champion consistent, positive change through their Environmental, Social and Governance policies, the ESGmark was founded by investment analyst experts Portia Patel and Justin Bates to […]
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Numerous countries offer diverse tax incentives, each providing unique advantages for entrepreneurs and business owners. Among these, eight countries stand out for their exceptional appeal to business ventures. Our tax experts have thoroughly researched these nations, evaluating their tax incentives, Research & Development (R&D) programs, and overall economic conditions. This article highlights the eight countries […]
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In an era where families increasingly hold assets across multiple countries, mastering the complexities of International Inheritance Tax (IHT) is crucial for effective estate planning. The global nature of assets poses unique challenges, particularly for those with substantial overseas holdings, such as business owners and entrepreneurs. The Value of an International Tax Adviser Expert guidance […]
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As we step into the new year, MGI Midgley Snelling LLP encourages all member firms of MGI Worldwide to adopt a powerful resolution: to prioritise and enhance the practice of mutual referrals. This initiative is not just about business development. It’s about fostering a stronger, more interconnected global network that benefits each member and their […]
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As a small business owner, embracing environmentally friendly practices not only supports a sustainable planet but can also unlock significant financial benefits for your business. It is important to explore the tax reliefs and allowances available to your business when you adopt green operations so that you can navigate and mitigate your environmental tax responsibilities […]
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As the crypto asset sector grows, with an annual growth rate predicted to reach around 12 per cent, taxpayers with digital assets need to remain tax compliant. Tax regulations and knowledge have struggled to keep pace with this investment type’s rapid growth, resulting in significant levels of unpaid tax and underreported income. In a bid […]
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For limited companies registered and operating in the UK, one of the requirements that directors must meet is filing annual accounts with Companies House. Comprising a collection of different documents, filing with Companies House ensures that the publicly available information about your company is correct. Because it is so important, there are penalties for not […]
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