Tax News and Case Law

Trusts – a simple guide

A trust is a legal arrangement in which a person or entity, known as the trustee, holds and manages property on behalf of another person, known as the beneficiary. A trust can be used to safeguard property in a number of ways.

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Tax Implications of Social Media Influencers: What You Need to Know

In recent years, the rise of social media has given birth to a new breed of celebrities known as social media influencers. These individuals have amassed large followings on platforms like Instagram, YouTube, and TikTok, and they often collaborate with brands to promote products and services. However, what many influencers may overlook amidst their newfound fame is the tax implications associated with their earnings.

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Self Assessment Tax return for PSC

HMRC nudges more company controllers

The tax office is writing to persons with significant control registered at Companies House who declared income of less than £100,000 on their last tax return, or who haven’t submitted a tax return.

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What is a Shareholder’s agreement & why is it important?

A shareholder’s agreement is a set of rules and conditions that affect a running of a company. Basically if you have a company with more than one shareholder, then this document is absolutely necessary to preserve the company and its relationships with the shareholder and directors, where you have external stewards running the company for you.

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Spring Statement 2023

On 15 March 2023, Chancellor Jeremy Hunt presented his first Budget to Parliament and set out a plan to reduce inflation, grow the economy and get government debt falling all whilst avoiding a recession and tackling labour shortages.

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How to determine whether capital allowances for plant and machinery may be claimed in respect of expenditure on a building or structure

Capital allowances for expenditure on a building or structure

A number of cases relating to the meaning of ‘plant’ in the context of a building or structure were heard in 2022. In this article, I’ll look at how to determine whether capital allowances (CAs) for plant and machinery (P&M) may be claimed in respect of expenditure on a building or structure, highlighting those areas where recent cases have clarified the application of the rules.

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