The TRS machine has been rumbling along for some years now. It was introduced to counter concerns that money and other assets can be hidden inside legal vehicles such as trusts and companies. The scope of TRS has been broadened during its journey and it is now a formidable system, underpinned by significant penalties for non-compliance. Trustees who choose to ignore the requirements do so at their own peril.Read Article
A few weeks ago all the indications from the Treasury suggested that the Chancellor of the Exchequer would have little or nothing to say about tax on 23rd March. However the Chancellor himself turned this around, making it clear that he wants to be remembered as a tax-cutting Chancellor.Read Article
The corporation tax clock is ticking steadily. For many years the main rate has been held at 19% with prospects of an even lower rate. This highly competitive rate internationally is set to increase following the Government’s huge outlay since Coronavirus struck in March 2020. After all someone has got to pick up the bill and companies don’t vote…!Read Article
The government has just announced some important postponements in its efforts to fully digitalise and streamline the UK tax system. A parliamentary statement was presented to the House of Commons by Lucy Frazer, the new Financial Secretary to the Treasury, on 23 September 2021. So what is on hold and for how long?Read Article
Another change in the assessment of business profits is on its way…Read Article
23rd March 2021 was going to be the tax day of days. It had been announced by the Chancellor of the Exchequer himself and given the background of a rather thin Budget on 3rd March this event was going to make all the difference. The media hyped it up no end and produced a whole string of likely changes which the Chancellor was considering in an effort to stabilise the UK economy. But it wasn’t to be.Read Article
Mr Sunak has not found this Budget at all easy. He is convinced that thanks to the vaccines the UK economy is on its way to a swift and sustained recovery. He has had to pick his way through conflicting demands very carefully. Somehow he has to hold the economy together, do all he can to keep people in employment, help those without jobs, assist specific industries and sectors which have been particularly affected by the pandemic, check future borrowing, start repaying debt - the list is endless.Read Article
The Chancellor has gone public this week along with the Prime Minister in an effort to assure Conservative party colleagues that his over-riding concern is to drive the economy forward, protect employment and achieve a sustainable level of public financesRead Article
This basic drill, with a few variations to cater for people with special needs, is all covered by The Wills Act 1837 which tells its own story. For a procedure to have been on the statute book for 183 years is good going. But enter Covid-19 and social distancing…. what happens now?Read Article
We have enjoyed a good working relationship with C&H Stedman over many years and have proved them to be 100% reliable and professional in producing accurate and timely Monthly Management Accounts and Year end Financial Reports.I have no hesitation in recommending them as ‘trusted advisors’ both in relation to financial planning and tax efficiencies, having many years’ experience and a breadth of knowledge in these fields.
C&H Stedman Accountants have provided professional advice for us since 2003. They produce regular Annual and Management accounts, with clear reports charting analysis, ratios and trends, and they supervise all our partnership’s tax affairs.Their service is always competent, prompt and friendly, and they readily give guidance on accounting issues which arise from time to time. A good support to our business!