Association Management – Brochure

21.11.19 / Insight posted in Brochures

Moore Kingston Smith Association Management (MKSAM) is one of the largest association management companies in the UK and is part of the Moore Kingston Smith group of companies; a top 20 firm of chartered accountants and business advisers. MKSAM have an experienced and dedicated team of specialists who work closely with not for profit organisations…


Economia: Lynne Rowland’s article on HMRC lenience following natural disasters

21.11.19 / Insight posted in MKS News

Lynne Rowland implores HMRC to show compassion to business owners in Yorkshire struggling to recover from flood damage. Whether their outlay is categorised as repair or upgrading work will affect what tax relief is available to them. However, those without any insurance will face the initial challenge of immediate expenditure. Full article here.


International Accounting Bulletin: Tim Stovold on balancing corporation tax against R&D relief

21.11.19 / Insight posted in MKS News

Tim Stovold advises that, when a company’s R&D tax credits effectively cancel out its corporation tax (particularly relevant in the tech sector), it can cause the public to question HMRC’s logic. Full article here.


COFA: Residual balances

20.11.19 / Insight posted in Articles

On 10 October 2019 the SRA issued their statement of prescribed circumstances which sets out the treatment to be applied to residual balances held by law firms which cannot be returned to the client at the end of a matter. This statement states that residual balances can continue to be treated in accordance with the…


COFA – Mixed receipts

19.11.19 / Insight posted in Blog

Following the topic of disbursements, firms also need to consider their procedures surrounding the treatment of mixed receipts in our series on the new SRA Account Rules. An area which was disliked in the SRA’s consultation on the rules was that the office element of mixed receipts must now be reallocated promptly to the office…


FT: Tim Stovold on City financier tax fiddle involving wife

19.11.19 / Insight posted in MKS News

A former high-ranking employee in The City avoided paying income tax by transferring a substantial portion of his pay to his wife. Partner Tim Stovold comments that the action itself is not uncommon but the amount does need to be ‘reasonable’ in the eyes of HMRC. In this case it wasn’t, as she became the…


New Model Adviser: Lynne Rowland on tax-efficient investing

14.11.19 / Insight posted in Articles

Lynne explores the implications of share disposal and high-risk investment options for income and capital gains tax, including deferral, eligibility and cash accessibility. Full article here. Subscription needed.


Property Poll – November 2019

13.11.19 / Insight posted in Articles

In our previous Monopoly-themed property poll we gave you £100 million pounds and invited you to spend it on property in Greater London, before the previous Brexit deadline of 31 October. Although the results showed a spread of investment across London localities, there was, unsurprisingly a clear preference towards residential stock within central London, with…


Employment status remains contentious in latest case decisions on TV presenters

11.11.19 / Insight posted in Articles

There have been several recent employment status case decisions involving TV presenters, to add to the long list of previous HMRC cases. Three BBC News and BBC World presenters   In Paya and others v HMRC, the First-tier Tribunal failed to reach a unanimous agreement in the case of the personal service companies operated by…


360 GSP Limited – 360 GSP College Ltd – 360 GSP Holdings Ltd

11.11.19 / Insight posted in

It is with regret that the directors advise that each of the above companies has ceased trading with immediate effect. In view of this no further courses will commence and courses currently mid-term will not complete. The affairs of the business are being dealt with by Moore Kingston Smith Licensed Insolvency Practitioners. In the first…