Blog24th Jun 2022Extension of the Trust Registration ServiceThe Trust Registration Service (TRS) was introduced in June 2017 as part of the UK’s Money Laundering regulations. The TRS requires trustees to report information about the trust, trustees, trust assets (for taxable trusts), beneficiaries and other parties associated with…View more
Blog7th Jun 2022Trust Registration Service extensionThe Trust Registration Service (TRS) has been significantly extended to cover a wider range of trusts. Trustees should make sure that they understand the new rules and register trusts as required before the 1 September 2022 deadline. Trust Registration Service…By Gunhild DamView more
Blog9th Mar 2022Double Tax Relief for Cross Border WorkersMany clients form part of the workforce navigating cross-border taxation issues. Despite paying taxes through their employer’s Irish payroll system, they may also be required to file a UK tax return. This requirement stems from the UK tax policy, which…By Seamus McElvannaView more
Blog24th Feb 2022Structure and Buildings AllowanceAfter clients experience a period of remarkable growth, the question often arises as to whether their current premises can still accommodate their needs and continued expansion. With considerations towards efficiency, particularly in tax matters, we’re pondering the benefits of constructing…By Malachy McLernonView more
Blog23rd Nov 2021Discretionary Trust and Tax Implications of Financial GiftsWhen contemplating enhancing your children’s financial future through a substantial gift, or setting up a discretionary trust for their benefit, it’s crucial to be informed about the potential tax implications in the UK. The realm of tax can be complex,…By Paddy HartyView more
Blog10th Aug 2021Second Job Tax – Understanding the IssuesIn today’s ever-evolving job market, it’s becoming increasingly common for individuals to take on additional employment to supplement their income. Whether due to the changing economic landscape or personal financial goals, holding more than one job presents unique challenges and…By Seamus McElvannaView more
Blog4th Aug 2021Income tax ‘basis period’ rule changeDraft legislation on the proposal to reform income tax basis periods was released on 20 July 2021 in the build-up to Finance Bill 2022. If you are a sole trader or partnership with an accounting year-end other than 31 March…By Stuart PetrieView more
Blog7th Jul 2021Capital Allowances Super Deduction – The New Super Incentive to Boost BusinessThe new super deduction aims to incentivise company expenditure and investment now as the country emerges from lockdown in the hope that companies will hit the ground running, says Tax Partner Malachy McLernon. The government has offered unprecedented support for…By Malachy McLernonView more
Blog2nd Jun 2021Lifetime Giving – Potentially Exempt Transfers & Normal Expediture Out of IncomeGifts to your family or friends may be Potentially Exempt Transfers for Inheritance Tax purposes provided you survive for 7 years after the transfer, explains Jarlath Devlin. Inheritance Tax (IHT) is arguably the UK’s most unpopular tax. Over the years,…By Jarlath DevlinView more
Blog27th May 2021Assurance vs Audit: What is the Difference?Understanding the difference between assurance and an external audit will help you get the most out of these procedures, explains Donal McGibbon… Demand for assurance and audit services has increased in recent years, partly because many business grants and supports…By Dónal McGibbonView more
Blog12th May 2021Residence Nil Rate Band – Keeping the Family Home free from Inheritance TaxThe Residence Nil Rate Band exemption enables individuals to pass on their family home to direct descendants free of Inheritance Tax in certain circumstances. Jarlath Devlin explains what Residence Nil Rate Band is and how it works… As property prices…By Jarlath DevlinView more
Blog10th Mar 2021VAT For Charities – Your Questions AnsweredVAT for charities can be a complex subject due to the mixed activities that many charities undertake. This article answers some frequently asked VAT questions to help you get to grips with the basics. However, VAT for charities is a complex…By Malachy McLernonView more