Corporate interest restriction guide
The corporate interest restriction (CIR) rules set a limit on the amount of interest that UK companies and permanent establishments can deduct for UK corporation tax purposes. The rules were introduced with effect from 1 April 2017 as part of the UK’s commitment to the Organisation for Economic Co-operation and Development’s Base Erosion and Profit…
READ MOREAutumn Bulletin 2023
As we approach the end of autumn, it is an opportune time to review and adjust your financial strategy. In this bulletin, we focus on key topics impacting your investments and financial planning. With the dramatic rise in interest rates over the last two years, ISAs have reemerged as an appealing investment option. We explore…
READ MORERemembering Francis James Mainoo
Moore Kingston Smith and its people are deeply saddened by the death of our colleague, Francis James Mainoo, who tragically passed away on Saturday 21 October 2023. Francis was a huge part of the firm and the Moore family, and will forever be remembered as the wonderful, dedicated, and driven man that he was. He…
READ MOREFamily business bulletin | October 2023
How family businesses can invest in their people Welcome to our latest bulletin, which explores a key part of all family businesses – its people. Attracting and retaining the best staff has become increasingly important, and businesses need to demonstrate that they are investing in their people to make them stand out as employers of…
READ MORECharity Workshop newsletter | September 2023
As we continue to navigate through the challenges that charities continue to face, it’s not all doom and gloom. This edition of our newsletter looks at some of the key news you should be aware of. In this issue: Data protection and privacy best practice guidance for charities and nonprofit organisations CC8 – Internal financial…
READ MORECash extraction for SMEs
Cash extraction One of the most important issues to be considered for small and medium sized companies is when and how cash should be extracted into the hands of the owners. There are many areas to consider: What are the requirements of individual shareholders in both the short and long term? How much cash should…
READ MOREBusiness investment relief
Background Most UK resident taxpayers are liable to pay UK income tax and capital gains tax on their worldwide income and gains as they arise. UK resident individuals who are not domiciled in the UK, however, may be able to make a claim to be taxed on their non-UK income and gains on the “remittance…
READ MOREUnderstanding the Annual Tax on Enveloped Dwellings (ATED)
What is the Annual Tax on Enveloped Dwellings (ATED), how is it calculated, what are your responsibilities and are there any exemptions and reliefs? We cover every aspect of this annual charge on residential property to help you understand your obligations. Introduction to the Annual Tax on Enveloped Dwellings The Annual Tax on Enveloped Dwellings…
READ MOREEnterprise Investment Scheme (EIS)
The Enterprise Investment Scheme is designed to help smaller higher-risk trading companies to raise finance by offering investors, who subscribe for new shares in those companies, a range of tax reliefs. How does a company qualify as an EIS company? To qualify for EIS investment, a company must meet various requirements, with the following being…
READ MOREBranch profits exemption
The exemption The basic rule of UK corporation tax is that a UK resident company is taxed in the UK on its worldwide profits. This includes profits of any foreign branches, with double tax relief generally being given against the UK corporation tax for any foreign tax paid on the profits of these foreign branches.…
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