Enterprise Management Incentive (EMI)

16.08.23

The continued growth and success of your business is dependent on your workforce. It is, therefore, important to ensure that you are recruiting, incentivising, and retaining the right people. A share based incentive scheme can help you to achieve these goals. Share schemes can be split into two broad categories: HM Revenue & Customs (HMRC)…

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Trivial benefits

16.08.23

Employers can provide their employees with trivial benefits without either they or their employees incurring any tax or National Insurance charges. The following conditions must be met for a benefit to meet the definition of a ‘trivial benefit’: Conditions The benefit must cost £50 or less When considering the “cost” of a benefit, we generally…

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A guide to passing on wealth

31.08.22

You’ve spent a lifetime building your wealth, so you’ll want to make sure that it’s distributed according to your wishes. Planning ahead is key to minimising the tax your loved ones will have to pay, so they get the full benefit of your hard work. It’s not always easy to talk about what will happen…

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Tax relief for expenditure on property

20.07.22

Many business owners are aware of the tax allowances available for items of plant and machinery acquired to use in the course of their trade, but not so many understand how tax relief can be obtained for expenditure on their business property, whether that be an office, a factory, or a room at home. Expenditure…

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UK Personal Tax Residence Rules

20.07.22

The Statutory Residence Test (SRT) has been applied since 6 April 2013 and determines whether or not an individual is a UK tax resident based on both time spent in the UK and other links to the UK. There are essentially three parts to the test. Our UK Personal Tax Residence Rules document provides a…

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Social Investment Tax Relief (SITR)

20.07.22

The Social Investment Tax Relief (SITR) is designed to support social enterprises seeking external finance by offering a range of tax reliefs to individual investors who invest in new shares, or new qualifying debt investments in those social enterprises. SITR applies for investments made on or after 6 April 2014. It was due to expire…

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Share options and incentives

20.07.22

The continued growth and success of your business can be dependent on your workforce. It is therefore important to ensure that you are recruiting, incentivising and retaining the right people. Operating a share based incentive scheme can help you achieve these goals. Share incentive schemes can be divided into two categories: those which involve the…

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Lasting Powers of Attorney

20.07.22

Moore Kingston Smith’s legal team have created a guide on the function of the two types of Lasting Powers of Attorney (LPA). It also explores who can act as your attorney and how we can guide you through the process of completing an LPA.   Download the guide How can Moore Kingston Smith assist me?…

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Appointing a Trust Corporation as a Trustee

20.07.22

Either when a trust is created or during the lifetime of a trust, the settlors or existing trustees may ask their professional adviser to take on a role as a trustee. The appointment of a professional individual can create problems when that professional dies, retires, loses capacity or moves overseas. Appointing a trust corporation however…

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Estate planning and administration

20.07.22

Getting the right advice and planning ahead is crucial for estate planning and administration, as we cannot always predict what will happen in the future. As soon as you start accumulating assets and have dependants, or simply enter into a marriage or civil partnership, you should be thinking about protection and planning for the future.…

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