With house prices soaring, more estates are now being subject to inheritance tax as the average inheritance tax bill reaches £214K. In the 2020-21 tax year, inheritance tax was charged on 27,000 estates. An increase of 4,000 compared to the previous year. This raised...
Deal Completed – 2023 Hawsons Corporate Finance had the pleasure of supporting Hi-Tech Automation Limited (“Hi-Tech”), a well-established automation intelligence company, during its transition to Employee Ownership. The company, based in Kettering, Northamptonshire,...
Basics of an EOT An EOT is a trust that acquires shares in a company which are then held on behalf of the employees. It is an increasingly popular exit strategy for shareholders which offers attractive tax incentives and peace of mind over the future of the business...
Whether mandated by statutory, or if your company falls below the Companies Act size threshold for an audit, there are many benefits to conducting an audit of your financial statement. Although many organisations see audit as a necessary compliance evil, many entities...
Renters Reform Bill As part of the new Renters Reform Bill the Government is planning to launch a new landlord database. This database has the potential to provide HMRC with large amounts of information regarding landlords which they will be able to identify landlords...
Super deduction and Annual Investment Allowance The introduction of the super deduction from April 1, 2021 was beneficial to capital-intensive industries such as logistics in that it provided companies with a deduction from taxable profits equal to 130% of the cost of...
Deal Completed – 2023 Hawsons Corporate Finance had the pleasure of supporting Caring Hands (Care Services) Limited (“Caring Hands”), a well-established domiciliary care business, with their transition to Employee Ownership. Based in Alfreton, Derbyshire, the company...
HMRC have announced that from April 2026, the existing penalty system for late filing of tax returns under Self-Assessment will be amended to a points-based system for self-employed people and landlords with turnover above £50,000. This coincides with those...
Why has the qualifying criteria been put in place? The economic contribution of employee-owned businesses in the UK is significant and growing. Greater productivity and higher levels of innovation whilst being more resilient to economic turbulence are some of the...
EOTs and Tax-Free Bonuses In this article, we discuss the tax-free bonuses that employees could benefit from in an employee-owned company. Under a qualifying EOT structure, as indirect owners, the employees are eligible to receive a share of the profits of the...
Introduction We have summarised the key rates and allowances which are fundamental to our business and personal lives. We are sure that you will find them a useful point of reference and have set out below a few examples of how they can be used. Personal tax rates As...
The Chancellor Jeremy Hunt has announced an extension of the higher rates of tax relief for theatres (TTR), orchestras (OTR), museums and galleries exhibitions (MGETR) for two years to 31 March 2025. In addition, the definition of qualifying expenditure will be...