Business Time in Essex: Tim Stovold and Andrew Constable on summer ‘Budget’

09.07.20 / Insight posted in MKS Comments

Tim Stovold and Andrew Constable’s timely analysis of the Chancellor’s mini-Budget yesterday was picked up in full in Business Time Essex. Full article here.

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New Model Adviser: Tim Stovold consulted on Chancellor’s new SDLT measure

09.07.20 / Insight posted in MKS Comments

Commenting on the reduced stamp duty land tax, Tim Stovold said: “‘This is very good news for BTL landlords, who will see their SDLT fall on properties they add to their portfolio, saving them up to £15,000 per property. It is not such good news for first time buyers who will be competing in a…

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FT: Tim Stovold on Chancellor’s SDLT cut

08.07.20 / Insight posted in MKS Comments

In an article looking at the impacts of Rishi Sunak’s cut to SDLT, Tim Stovold spares a thought for how first-time buyers will be affected. Stovold said that they will effectively become small fish in a large pond, “competing in a market full of landlords keen to cash in”. Full article here. Subscription needed.

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Design Week: Mike Hayes on job retention bonus impact on agencies

08.07.20 / Insight posted in MKS Comments

As the furlough scheme comes to an end, the Chancellor’s job retention bonus will ease the way back to work for many. Organisations bringing employees back from furlough receive £1,000 per employee. Mike Hayes said the measures “provide reassurance to their employees as well as the companies themselves”. Full article here.

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Federation of Small Businesses: Paul Samrah on surviving the crisis

01.07.20 / Insight posted in MKS Comments

The FSB’s magazine, First Voice, published an article about SMEs coming back stronger and better. Paul Samrah advises businesses to have a good contingency plan in place with a well-defined emergency committee. Samrah said: “We’ll get through this. It might be different than it was before, but if we remain positive we’ll bounce back and…

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Financial Times: risks if changes to lifetime tax gifts occur, warns Lynne Rowland

11.07.19 / Insight posted in MKS Comments

The Office of Tax Simplification (OTS) has recently recommended a reform of inheritance tax (IHT) to mixed responses. Alongside the suggested shortening of the “seven-year rule” to five, the OTS has advised changes to gifting allowances, due to the ambiguous rules surrounding them. There are both benefits and drawbacks to this advised change, especially regarding…

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FT interview: Lynne Rowland provided in-depth insight to Emma Agyemang at the Financial Times on the OTS’ IHT review

09.07.19 / Insight posted in MKS Comments

The chancellor requested an independent review on inheritance tax (IHT) that suggested the “seven-year rule” of transferring assets be reduced to five. This suggestion was published by the Office of Tax Simplification, who deduced that the proposal could cause IHT to be more easily dealt with in the future. Tax partner, Lynne Rowland, observes that…

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The Telegraph: odd jobs, pet breeders and babysitters could face income tax charges

28.06.19 / Insight posted in MKS Comments

HMRC’s new regulation regarding taxation of trading activities such as online market places and casual labour could see unsuspecting traders needing to declare income on their tax returns. Traders will need to be aware of their ‘badge of trade’. Tim Stovold, head of tax at Kingston Smith, said: “With HMRC having significant powers to get…

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Tim Stovold quoted in US Tax Notes on OTS recommended simplified tax

06.06.19 / Insight posted in MKS Comments

Tim Stovold, head of tax at Kingston Smith, contributed to an article in a US publication, Tax Notes, about the recent OTS’s recommendations on simplifying tax for smaller businesses in the UK. Tax Notes looks at the application of tax policy internationally. “Some of the recommendations would not require legislative amendments — such as the…

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Lynne Rowland warns New Model Adviser of accidental landlord tax

30.05.19 / Insight posted in MKS Comments

Private client tax partner, Lynne Rowland, wrote an article in New Model Adviser on tax liability for unplanned property lets. She concludes: “To avoid the pitfalls and financial complications of becoming an accidental landlord, anyone considering selling their home should visit their local estate agent before the taxman comes calling.” To find out more and…

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