eprivateclient: Lynne Rowland’s article “The future of care funding in the UK: Now is the time to be bold”

07.07.20 / Insight posted in MKS News

The UK government’s extraordinary financial support to businesses and the self-employed during the Covid-19 crisis has highlighted the precarious position of the UK care industry. Radical change must follow challenging debate about the cost of providing the service that everyone needs. There needs to be better provision for care in later life. The government should…


The Telegraph: Tim Stovold responds to proposed tax on test

07.07.20 / Insight posted in MKS News

Tim Stovold calls for reversal of HMRC’s proposal to collect tax from employees making use of testing kits that their employers are supplying. Workplace-provided kits for employees to test for Coronavirus are being described as a taxable benefit in kind. Stovold comments: “It is absurd that HMRC should collect tax on employer provided kits. It…


Accountancy Age: John Hood reacts to Fair Tax Mark Poll 2020

30.06.20 / Insight posted in MKS News

The Fair Tax Mark Poll 2020 revealed that Brits are asking businesses to display transparency and a sense of duty to society. John Hood said: “The colossal sums paid out by the Exchequer to support staff on furlough has reinforced how important it is that businesses contribute by paying the correct amount of tax in…


Taxation: Andrew Constable’s article “Tax transparency of general and limited liability partnerships”

22.06.20 / Insight posted in MKS News

Andrew Constable untangles the legal intricacies of partnerships. It is a truth universally acknowledged that partnerships and limited liability partnerships (LLPs) are transparent for tax purposes. But what exactly this statement means in practice, and how widely it should apply, is not always entirely clear. If we examine how partnerships and LLPs are treated in…


The Times: Lynne Rowland’s article “Leaving a child off of a will should be a promise, not a hope”

18.06.20 / Insight posted in MKS News

Lynne Rowland’s article explores the reasons for a person choosing not to include a child in a will. She calls for the law to be clarified to show just how this can be done. One consequence of families spending more time together under lockdown is a spike in couples seeking divorce. Another, perhaps in forced…


BBC News: Maureen Penfold describes how the firm is keeping its people connected during lockdown

11.06.20 / Insight posted in Articles, Operations, MKS News

In a feature on BBC News, Maureen Penfold shares tips on maintaining social connectivity across the entire firm while everyone is working from home. Penfold said: “We’ve always been an office-based business and overnight we moved 650 people into being a home-based business. Our biggest concern was making sure that all of our people still…


FTAdviser: Tim Stovold warns of wrongful claims for furlough grant

02.06.20 / Insight posted in MKS News

Tim Stovold explores HMRC’s intention to clamp down on directors making fraudulent claims for furlough grants, even those that are unintentional. He said: “Although these rules apply to fraudulently claimed furlough grants, they will also apply where the company has not understood the complex rules of the scheme and claimed the grant in error. HMRC…


FTAdviser: Lynne Rowland’s article: Now is the time to get one’s affairs in order

01.06.20 / Insight posted in MKS News

Social distancing restrictions and self-isolation for the elderly and vulnerable have provided many with time on their hands and an opportunity to review their personal and financial affairs. The role that family and friends play, as well as the support of professional advisers is crucial to ensure that current circumstances and wishes are reflected. Rowland’s…


FT live Q&A: Tim Stovold on wealth tax implications post-crisis

20.05.20 / Insight posted in Tax, MKS News

FT Money calls on Tim Stovold to answer readers’ questions on the Coronavirus bailout by the government. Responding to a question on defined benefit pension schemes, Stovold said: “If a wealth tax were implemented based on the capital values of assets, it wouldn’t really work with DB schemes so a possible alternative would be to…


Moore Kingston Smith appointed administrator for Powerbanks

19.05.20 / Insight posted in MKS News

On 19 May 2020, Ian Robert and Ryan Davies of Moore Kingston Smith Licensed Insolvency Practitioners (MKSLIP) were appointed joint administrators of Powerbanks Limited, a franchisee for a well-known fast-food franchiser as well as El Taco Loco, Roosters and Cafe Real. By way of a pre-packaged sale, a portion of the business and assets were transferred to its…