UK employee share schemes: Enterprise Management Incentives (EMI)
Written by Tax Partner, Michaela Lamb Whilst there are many ways of incentivising and retaining key employees, the Enterprise Management Incentive (EMI) scheme remains one of the most tax efficient ways to do this because of the very generous tax reliefs associated with the scheme. In addition, these schemes are entirely flexible and gives the […]
Pandora Papers: Everything you need to know
What are the Pandora Papers? The International Consortium of Investigative Journalists (ICIJ) conducted what it described on its website as a ‘massive cross-border investigation’ that resulted in what became known as the Panama Papers. It was essentially a giant leak of more than 11.5 million financial and legal records. This was followed by […]
An employee’s guide to RSUs and Stock Options
Written by Tax Partner, Michaela Lamb More and more employers in the Tech sector are offering Restricted Stock Units (RSUs) or Stock Options to their employees. These have been popular with US companies for a long time, and so those working for global companies, and those who are working remotely for US/Canadian businesses are finding […]
Increases in Interest Rates for estates paying IHT by Instalment
Written by Tax Partner, Michaela Lamb HMRC allow estates with an IHT liability in relation to certain assets to pay the liability over a period of 10 years. These are paid annually in equal instalments, which attract interest. This can be a useful option for families who do not wish to part with those assets, […]
Stealth Tax: As tax payers pay more income tax each year, what planning tips can you implement to reduce your Tax Rate?
Written by Tax Partner, Michaela Lamb An article in the The Times this week has reported on the fact that the freezing of the tax-free personal allowance, basic and higher rate income tax thresholds as part of the Chancellor’s Budget earlier this year’ has brought 1.6million more people into the realms of paying income tax […]
Generous Employer Pension? Beware of the hidden tax traps…
Written by Tax Partner, Michaela Lamb Many employers now offer pension contributions as part of their remuneration packages – in fact, following the introduction of Auto Enrolment Pensions in October 2012, you and your employer are obliged to make contributions to a pension scheme, unless you specifically opt out. For most people there is […]
If you wish to make voluntary NI contributions to the ‘new state pension’ you may benefit from the current extension, but must now act before 5 April 2025
This extension could make all the difference in ensuring you receive all or some of the ‘new state pension’ and you should act now. For those retiring on or after 6 April 2016 In March 2023 HMRC announced an extension (to 31 July 2023) of the 5 April 2023 deadline for making additional National […]
Mitigating some risks with SEIS and EIS tax investment schemes
Written by Tax Partner, Parminder Chattha The SEIS (Seed Enterprise Investment Scheme) and EIS (Enterprise Investment Scheme) schemes provide valuable tax incentives for investors who subscribe to shares in particular companies. These reliefs make fundraising for newer and smaller companies much easier as the investor’s downside risk is mitigated and upside benefit is exempt from […]
Business property relief: IHT exemptions for business activity
Written by Tax Partner, Parminder Chattha Inheritance Tax (IHT) is chargeable on the value of an estate when someone dies, although it could also be chargeable on certain lifetime transfers, as well on property held within a relevant property trust. The rate of tax is 40% above a certain exempt amount, and there are various […]
Rules for the reporting and payment of capital gains tax for the disposal of UK residential property
Written by Tax Partner, Michaela Lamb HMRC introduced new rules for the reporting of capital gains tax from 6th April 2020. We have set out below a list of FAQs which we hope will assist you in understanding these rules. I have sold a UK property, what do I need to tell HMRC? If […]