Baldwins Group

Join our tax specialists as they explore the Autumn Statement announcements after the dust has settled and the impact these may have across the UK’s business community, plus any effects on individuals.

There will also be a focus on tips for efficient, effective and strategic tax planning for the rest of the tax year and beyond.

Register here:

Webinar | A breakdown of the key Autumn Statement announcements The UK Government’s Autumn Statement will take place on 22 November and the Chancellor is under significant pressure to appease the tax burden facing individuals and businesses.

Separating couples could be made aware that they may have underpaid tax in the past following changes to Capital Gains Tax (CGT) regulations.

These welcome new measures are expected to simplify asset transfer for separating spouses or civil partners and enable a tax-efficient split.

Read more:

Capital Gains Tax changes may reveal underpaid tax | Azets UK Separating couples could be made aware that they may have underpaid tax in the past following changes made to Capital Gains Tax (CGT) regulations.

The abolition of the pension lifetime allowance charge, as announced in March's Budget, was met positively in some quarters. However, a policy paper recently published by the UK Government added an important caveat for those who inherit a pension from someone who dies before the age of 75.

In our latest insight, John Hiddleston, Associate Director, explores this possible tax increase for a number of our individuals across the UK, as well as the additional consideration of inheritance tax:

Income tax charge on inherited pensions proposed by Government | Azets UK In somewhat of a surprise turn, a policy paper was published by the Government on 18 July which has added an important caveat for those who inherit a pension from someone who dies before the age of 75.

There's so much focus on the annual compliance cycle, which completes each year on 31 January, leaving February and March to consider planning before the end of the relevant tax year. However, it's never too early to plan, and it may be worth taking action sooner rather than later.

Here, Morag Watson, Partner, explores a few personal tax considerations to get you thinking ahead:

Optimising your personal tax position: It’s never too early to plan… | Azets UK Why not break old habits and think about planning earlier in the tax year? Here are a few things you can consider sooner rather than later.

The popularity of electric vehicles as company cars has surged thanks to various tax exemptions implemented since 2020.

However, while HMRC's benefit in kind guidance is clear on workplace charging, there has been some ambiguity surrounding home charging. Following a consultation, this has now been cleared up.

Jez Howson, Employment Tax Director, explores further in our latest insight:

Home charging electric company vehicles: An update on the tax treatment | Azets UK While HMRC's guidance is clear on workplace charging, there has been ambiguity surrounding home charging.

As the UK moves towards the next general election, there are suspicions that Capital Gains Tax (CGT) may rise regardless of whichever party wins.

Lee Humble, UK Head of Corporate Finance, explores why it may be worthwhile for owners considering selling their business to do so in a timely manner to avoid any hikes in CGT:

Business owners considering selling should act now to avoid possible tax increases | Azets UK Potential increase in Capital Gains Tax will have knock-on effects across the UK’s owner-managed business community. Lee Humble, UK Head of Corporate Finance explores.

Companies in the UK risk falling foul of a new regulation involving the submission of tax relief claims for research and development (R&D), it has emerged.

Nick Woolfe, R&D Tax Partner, explores why the additional submission requirements were brought in and also other scheme changes in our latest insight:

New requirements leading to invalid R&D tax relief claims | Azets UK Companies in the UK risk falling foul of a new regulation involving the submission of tax relief claims for research and development (R&D), it has emerged.

The McCloud judgement stands as a landmark legal decision that has implications for many public service pensions, including members of the NHS, teachers, civil servants, police officers, firefighters, armed forces and Local Government Pension Schemes (LGPS).

Luke Wheal, Director, provides an overview here:

The pension and tax return implications of the McCloud judgement | Azets UK The McCloud judgement stands as a landmark legal decision that has implications for most public service pensions.

Outsourcing of payroll presents an opportunity for businesses. Not only to save the company valuable time and money, but also to ensure the business operates a risk-free, secure and compliant payroll function.

Grant Saunders, Service Development Director, discusses the benefits that come with outsourcing payroll: https://hubs.la/Q0214Wd20

What is payroll outsourcing and why you should consider it? | Azets Payroll outsourcing can save you valuable time and money, but also to ensure the business operates a risk free, secure, and compliant payroll function.