Latest news
SRA Confirms Fining Power Increase to £25,000
Towards the end of 2021 the SRA announced that they were proposing an increase in fining powers from £2,000 to £25,000. In addition, the regulator announced the development of a new fast track system for ‘fixed penalties’ for low-level offenses. It was recently...
Reshaping Legal Services
The LSB (Legal Services Board) has developed a new website called reshapinglegalservices.org.uk. The new website aims to present research and insight about the future of legal services from lawyers, regulators, tech experts and consumers. The idea behind the website...
Dive with caution…Partnership income or employment income
In Corrigall [2022], The First-tier Tribunal (FTT) found that earnings from diving could not be treated as income from a partnership. The appellant in this case was employed as a gas and air diver for UK and international companies. The appellant, however treated his...
What is the transfer of a business as a going concern for VAT purposes?
What is the transfer of a business as a going concern for VAT purposes? Be Aware, Getting it Wrong Can be Costly!! The transfer of a business as a going concern for VAT usually involves high ticket items. To get the VAT liability wrong can lead to severe...
Advisory fuel rates for company cars
New company car advisory fuel rates have been published which take effect from 1 June 2022. The recent record prices for petrol and diesel and has caused advisory fuel rates to increase across the board, as rates for petrol, diesel and LPG increase by at least 1p per...
How can careful estate planning reduce inheritance tax?
Could you Legally save £100,000’s on your estate? In the last tax year, £6.1bn was paid to HMRC in Inheritance Tax (IHT) payments - £700m higher than the previous tax year and according to the Office for Budget Responsibility Economic & Fiscal outlook, this figure...