CURRENT ISSUES
Shipleys provides insight and analysis on the current issues facing clients in their personal and business affairs.
Scroll down to browse the full list, or use the links above to refine by sector.
To download copies of these briefings simply click on the image or the title link.
If you would like further advice on any of these topics please get in touch with your usual Shipleys contact or email advice@shipleys.com
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Tax |
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This article discusses UK Real Estate Taxes, in particular the issues surrounding Residence and Domicile |
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Tax |
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Research and Development (R&D) relief was introduced to encourage companies to invest in the advancement of technology and science. |
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Tax |
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Draft clauses published on 14 October 2010 intended for the Finance Bill 2011 provide more information on the latest changes to the pensions rules, including the new limit on contributions attracting tax relief after 6 April 2011. |
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Tax |
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A summary of the Chancellor's budget. It contains information about VAT, personal tax, corporation tax, pensions and capital gains tax. |
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Tax |
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As the personal allowances,income tax bands, NIC rates and NIC thresholds for 2011/12 are already known,individuals and trustees may wish to review the scope foraction either to save or delay tax liabilities. This article discusses all the issues. |
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Tax |
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New requirements to file accounts and corporation tax returns on-line mean that these are likely to be more expensive to prepare in the future. This article explains the changes in more detail and identifies what action may be appropriate. |
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Charities & Non Profit |
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This article outlines the recent developments in the charity and not for profit sector. |
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VAT |
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An outline of the VAT laws surrounding mail delivery services. |
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VAT |
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Some of the key facts and figures about VAT and related systems such as Intrastat can be found in this article. |
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Financial Services |
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This discusses in detail the Exposure Draft/2010/4 Fair Value Option for Financial Liabilities. |
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Financial Services |
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This discusses the proposed amendments resulting from the first stage of reviewing the IMA SORP 2008. |
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Legal |
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It was recently announced that cheques are due to be phased out by 2018, leaving many business with the decision of finding an adequate replacement. Legal firms are set to be affected by this change as a significant number of their clients pay by cheque. This article discusses all the options. |
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Tax |
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The rules regarding pre-owned assets are very complicated but their effect is to impose an income tax charge on the perceived benefit from the 'pre-owned' asset. Read our detailed analysis here. |
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Charities & Non Profit |
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This summary of recent developments in the Charities and Non Profit sector includes information on Charitable Incoporated Organisations and Gift Aid. |
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Financial Services |
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This summary explores the requirements concerning liquidity resources for banks, building societies and investment firms that came into force on 1 Dec 2009. |
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Financial Services |
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A summary of recent FSA updates including information about proposed changes to Collective Investment Schemes Sourcebook (COLL), regulatory Reporting for Investment Firms and regulatory fees. |
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Financial Services |
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A Summary of International Financial Reporting Standards (IFRS) Developments |
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VAT |
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An announcement was posted on the HM Revenue & Customs website on 25th February 2010 notifying a change of policy regarding the date that cheque payments sent by post are deemed to have been received. |
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VAT |
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HM Revenue & Customs has announced the introduction of simplified partial exemption de minimis tests. These will enable businesses to work out whether or not they can treat themselves as fully able to recover input VAT without having to perform a full partial exemption calculation. |
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VAT |
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A summary of the initiatives HMRC is introducing to harmonise the multitude of penalty regimes that apply to the various taxes and duties it administers. |
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VAT |
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HM Revenue & Customs is continuing to update the penalty regime in respect of indirect taxes and is introducing a 'VAT and Excise Wrongdoing Penalty' with effect from 1 April 2010 |
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VAT |
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This summary outlines the problems relating to reclaiming foreign VAT and how to overcome them. |
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VAT |
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The return of the UK standard rate of VAT to 17½% on 1 January 2010 has been widely criticised, this article highlights some of the finer points. |
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VAT |
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VAT Registered businesses should be aware of the rules relating to the increase of VAT back up to 17½%. |
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Charities & Non Profit |
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A summary of recent changes affecting charities and Non-Profit organisations including information about Gift Aid, Fraud and Public Benefit Reporting. |
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Financial Services |
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The FSA has proposed amendments to its Collective Investment Schemes Sourcebook (COLL) which are in part aimed at removing inconsistencies between COLL and the IMA SORP which have emerged since the implementation of the SORP from January 2009. |
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VAT |
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A summary of the cross- border VAT changes that are coming into place from the 1 January 2010, relevant to any business that makes intra EU supplies of services or has incurred VAT in other EU countries. |
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Charities & Non Profit |
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This summary examines the seven key principles of good governance discussed in the "Code of Good Governance" for the Voluntary and Community Sector. |
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Tax |
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Individuals with unpaid taxes linked to offshore accounts or assets are being given a second and final chance to settle their tax liabilities at a favourable penalty rate. |
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VAT |
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HM Revenue & Customs has announced plans to phase out paper VAT returns with effect from 1 April 2010. From that date all new VAT registrations and all existing VAT registrations with turnover of more than £100,000 will be obliged to file online. |
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VAT |
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If you occasionally import or export goods to or from the EU, new VAT rules apply from 1st July 2009. |
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Tax |
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A summary outlining major tax changes that apply from 6 April 2008 and affect those resident in the UK but not domiciled or not ordinarily resident |
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Financial Services |
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The IMA SORP 2008, issued on the 10 November 2008, replaces the SORP 2005 and is applicable to accounting periods beginning on or after 1 January 2009. The main changes and areas of particular interest are summarised here. |
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VAT |
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If your annual turnover (excluding VAT) is £1,350,000 or less you may be eligible to calculate your VAT payments using the cash accounting VAT scheme. |
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VAT |
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The VAT penalty system and the VAT error threshold have both been amended resulting in a regime that requires fewer errors to be separately disclosed to HM Revenue & Customs but a greater risk of being penalised for making mistakes. |
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Tax |
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On 25 July 2007, The House of Lords found in favour of the taxpayers Mr & Mrs Jones in the widely publicised tax case known as "Arctic Systems". |