An internationally mobile workforce provides flexibility to businesses and unlocks many advantages, but with this comes the significant concern of tax issues. This is where Midgley Snelling LLP’s international tax team can help. With various tax laws applying to foreign nationals living and working in the UK, and vice versa, handling tax affairs can be […]

The Solicitors Regulation Authority (SRA) now require all firms for which they do not already hold such information, to complete a short assessment outlining how they are complying with the UK’s current financial sanctions regime. The deadline for this assessment is 31 May. Midgley Snelling’s expert team are available to assist you with what you […]

The abolition of the Lifetime Allowance (LTA) and the £20,000 increase to the Pension Annual Allowance in the Spring Budget, make this the perfect time to talk to your clients about Inheritance Tax (IHT) and the passing on of pensions. What is the new post Budget rule on pensions? The charge for the £1.07 million […]

From April 2023, the exemption for Capital Gains Tax is set to be reduced. Now is the time to make sure you get ready, to advise your clients on the drop in the threshold. What is Capital Gains Tax? Capital Gains Tax (CGT) is a tax that is payable on any profits made from the […]

Understanding Capital Gains Tax (CGT), specifically what your liability is, is essential when considering options for selling a buy-to-let property. If you are currently renting out a second property, or have a portfolio of properties, being aware of your CGT liability will likely influence a few key financial decisions. It is worth mentioning that under […]

From 1 September 2022, changes to the rules regarding the Trust Registration Service (TRS) mean that more trusts will need to be registered with HM Revenue & Customs. The TRS was introduced five years ago to make the beneficial ownership of assets held in trust more transparent. While many trusts have had to sign up […]

Taxpayers who have yet to file a tax return for 2020-21 have just a short time left to take action if they want to avoid a financial penalty. With the Christmas and New Year holidays taking a chunk out of the working month, now is the time to think about preparing self-assessment online tax returns. […]

The paper Self Assessment deadline for the 2020 to 2021 tax year is 31 October, taxpayers have been reminded. But HM Revenue & Customs (HMRC) said self-employed workers and landlords should submit digitally to speed up the time it takes to file and avoid common mistakes. The digital tax return deadline is 31 January 2022, […]

In recent weeks, a number of media reports have suggested that the Chancellor of the Exchequer may be considering an overhaul of Inheritance Tax (IHT) which might even involve scrapping the tax completely in favour of an alternative revenue raising option. Chancellor Rishi Sunak is reported to be considering reforming IHT and although details of […]