Small firms warned to beware of ‘overseas company tax dodge’

Small firms warned to beware of ‘overseas company tax dodge’ Businesses are being warned to beware of ‘advisors’ offering to help them avoid tax by setting up a company overseas. Andrew Robinson of DSW Tax Advisory says suggestions that firms could avoid UK tax simply by registering their business in locations like Dubai are too … Continued

Dow Schofield Watts’ tax practice acquires Lancashire firm

Dow Schofield Watts’ tax practice acquires Lancashire firm Financial advisory firm Dow Schofield Watts has expanded its tax practice by acquiring a Lancashire company that specialises in advising high-net-worth individuals. Burscough-based STS Europe – which is one of the leading firms of its type in the North – advises clients, including UK-resident non-domiciles, on matters … Continued

SEIS changes give investors more reasons to back start-ups

SEIS changes give investors more reasons to back start-ups Changes to the tax rules that come into force last month will boost funding for start-ups and give investors more incentive to back them, according to DSW Ventures, an early-stage investor and part of the DSW network. As of 6 April, the amount companies can receive … Continued

VAT changes to e-books – not the end of the story yet

VAT changes to e-books – not the end of the story yet Recently the government trumpeted the news that they are ‘fast-tracking’ the VAT changes to e-publications by introducing VAT zero-rating on 1st May, rather than on 1st December. However, what is not being reported so widely is that HMRC have been resisting (and I … Continued

Capital Allowance – Plant and Machinery

Plant and machinery allowances may be given where a person carrying on a qualifying activity incurs qualifying expenditure. By Simon Denye, Partner, Dow Schofield Watts Tax Consulting LLP Qualifying activities are: A trade A property business (UK or overseas) A furnished holiday lettings business (UK or within the European Economic Area) A profession or vocation An employment or office … Continued

Family planning – the tax sort!

Transferring Shares in Family Company to Spouse – Gift or Sale? By Simon Denye, Partner, Dow Schofield Watts Tax Consulting LLP Owning your company jointly with your spouse is standard planning where one of you pays tax at a higher rate than the other (or one of you pays no tax at all). The idea … Continued

A Recap on Directors Loan Accounts

As a director, the company may pay for personal expenses from time to time. You can clear the debt by repaying it or get the company to write it off. Does it matter how and when you do this? By Simon Denye, Partner, Dow Schofield Watts Tax Consulting LLP Over £10,000? Your company card has … Continued