June 2024: The Tax Spotlight
Dive into the world of taxes specifically tailored for Owner Managed Businesses.
As an OMB, you face unique challenges and opportunities when it comes to navigating the complex tax landscape. Our goal is to provide you with valuable insights and expert guidance to optimise your tax position and maximise your financial success.
Through our newsletter, we will keep you updated on the latest tax developments, providing you with easy-to-understand explanations and actionable tips.
Should you have any questions, please do not hesitate to contact us. We hope you find our newsletter interesting and informative; please do feel free to forward to anyone you think would find it useful.
Spotlight on
Webinar: Understanding Tax Risk & Governance
Join us for an insightful webinar on Thursday, June 27th, as we explore the crucial components of tax governance and why it has emerged as a critical pillar of corporate integrity.
In an era where regulatory scrutiny is at an all-time high, understanding the essential components of tax governance is paramount for businesses. During this webinar, we will explore the essential steps companies must take to ensure robust tax governance and what is required to be considered ‘Low Risk’ by HMRC. We delve into HMRC’s requirements in relation to the Senior Accounting Officer regime and how adopting a comprehensive Tax Control Framework will help you to meet these requirements. Additionally, we will examine the importance of preventing corporate criminal offences and the actions required to protect against criminal charges.
Private Client
Proposed changes to UK Non-Dom Rules for 2025/26
Watch this informative Q&A with our tax experts to understand the proposed new rules around the UK non-domicile regime.
Following an announcement in the Spring Budget 2024 to scrap the non-dom tax status in the UK, changes will come into effect from April 2025 and impact UK non-dom residents.
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Corporate tax
Navigating recent R&D changes: What businesses need to know
In the dynamic landscape of Research and Development (R&D) tax relief, staying abreast of changes is paramount for businesses seeking to maximise their benefits. Scott London-Hill, Research and Development Manager at MHA, sheds light on recent developments and offers valuable insights for companies navigating these shifts.
VAT
Protecting your business: VAT repayments – safeguarding against fraudsters
Registered for VAT? Do you routinely receive repayments of VAT from HMRC? If so, this may affect you, read on. Recently, there have been several reported cases of taxpayers online VAT accounts being amended, without their knowledge, to include fraudulent bank details. As a result, any VAT repayments expected by the VAT registered trader have been diverted to a third-party bank account.
Human Capital
Fostering social responsibility: Equity Incentives and Employee Ownership Trusts
Increasingly, social responsibility is integral to business practices, with business owners recognising it is intertwined with (and critical) to positive public image, productivity, recruitment, and financial results. Furthermore, business owners are coming to recognise the potential risk where social responsibility is not prioritised, which can range from disincentivising employees.
CONTACT US
If there is anything that you would like to discuss further, please do not hesitate to get in touch with your local office or email?[email protected].