Katharine Arthur, Partner and Head of Private Client, has shared her insights on the challenges and critical considerations surrounding the HMRC’s Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) pilot program with AAT.

The latest edition of our Corporate and Private Client eNews is now available to download.

There’s a changing outlook for director-shareholders in family companies. Recent developments, such as the change to the dividend allowance and National Insurance Contribution (NIC) rates, and potentially higher Corporation Tax rates, all mean remuneration may need rethinking. Checking the numbers in your own particular circumstances becomes increasingly important.

There are a few tax issues to be aware of when transitioning from an employee to a partner. The below details the scenario of your tax position as an employee and what it would mean for you becoming a partner. If you are a Limited Liability Partnership (LLP) member, all comments below are subject to you being treated as self-employed for Income Tax and National Insurance (NI) under the Salaried Member Rules.

For the third installment in our VAT for Financial Services series, Dougie Todd, Partner and Co-Head of VAT Partner, focuses on the VAT position of UK fund managers.

Introduced in 2014, the salaried members rules are anti-avoidance provisions, which remove the presumption of self-employment for some members of Limited Liability Partnerships (LLPs), with a view to tackling ‘disguised remuneration’ through LLPs.

Our client is the holding company of a property investment and trading group that also held shares in subsidiaries’ holding investment portfolios (the ‘investment companies’) where different family members were entitled to the assets and distributions from these companies through separate classes of shares.

haysmacintyre provided tax advice and assistance in respect of a capital reduction demerger to demerge the investment companies from the group.

Welcome to the start of a new tax year. Your haysmacintyre team is ready to prepare your 2023-24 tax return, and hope that this aide memoire will assist you in collating the required information and documents. Please get in touch by the following dates should you require support: By 30 June if you wish us […]