Jason Dunlop

🆕July's Insolvency & Restructuring News from ICAS - The Professional Body of CAs is dropping into inboxes today. You can also read it here 👉https://buff.ly/466SMRk

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Proud sponsor of the STEP - Tax, Trusts and Estates Conference 👉🏽 6th November | Leeds | https://lnkd.in/ey_8DcPc This year’s conference will feature sessions on issues for trusts and personal representatives; family investment companies, electronic wills, testamentary capacity and relationship difficulties for the next generation. STEP – Advising Families Across Generations

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How can directors of hospitality businesses protect the company, themselves and the creditors from insolvency? Our insolvency partner Aman Sehgal sets out the steps directors should take if the company is going through financial difficulty. Read more: https://ow.ly/NVxy50U9QK8

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EIGHT ADVISORY provided tax structuring advice in relation to August Equity’s investment in Fargo Systems Ltd.    👏Congratulations to August Equity and Fargo Systems!    The #tax services were provided by:   Dean Lake, Partner  Tom Sykes, Senior Manager  Max Muhona, Senior    Well done EIGHT ADVISORY team 💪! More information 👉https://lnkd.in/eu42RdPs   #EightAdvisory #ActingLocally #ReachingGlobally 

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Following a series of significant changes to R&D tax relief in 2023, the merged R&D tax relief scheme came into effect on 1 April 2024. It is hoped that these changes will help reduce the number of claims enquired into by HMRC – currently one in five. An HMRC enquiry is stressful, time-consuming, and often expensive for the taxpayer, particularly when most HMRC caseworkers lack specialist knowledge related to the claim under enquiry. The following article: https://lnkd.in/eyUFB7z6 sheds light on recent developments and offers valuable insights for companies navigating these shifts. Of particular note is the requirement for new claimants (or those who have not made a claim in the previous 3 years) to make a notification within 6 months of the year-end or lose the ability to do so! #ResearchAndDevelopment #CorporateTax #BusinessStrategy

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📜 With the Autumn Budget announcing upcoming extension of Inheritance Tax to unspent pensions and death benefits from April 2027, understanding how this affects your legacy strategy is essential. Find out more⬇️ #InheritanceTax #Pension #AutumnBudget

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A&M Tax Senior Director Richard Dillea will be hosting a virtual session on ‘Restructuring tax – the expense, the claim and the value add’ at the ICAEW R&I conference tomorrow. Richard will be calling on his experience to talk through some common UK corporation tax issues that can arise when selling assets out of insolvency and outline some commercial and practical solutions to these challenges. Learn more here: https://okt.to/znXcg0 #AMon #Tax #EMEATax #Restructuring #Insolvency

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New article alert 🔔 Non-Dom Reforms: Changes to Inheritance Tax 📆 The latest Budget introduces significant changes that will reshape inheritance tax (IHT) rules for non-doms starting April 6, 2025. In Part 2 of our series, we break down the details and implications of these changes for individuals and trusts. Key highlights include: A new residency-based test will apply to determine the scope of IHT on most non-UK assets, with new rules being implemented for lifetime transfers, spouse exemptions and gifts with reservation of benefit, amongst others. The scope of IHT on offshore settlements will now depend on the residence status of the settlor and will only be permanently fixed once the settlor has died. The new rules will provide certainty for UK domiciled individuals who have been living outside of the UK long term but could also bring some unexpected tax charges for any trusts which they have created in the past. These changes are complex and far-reaching, affecting both non-domiciled individuals and UK domiciled individuals living abroad. Transitional arrangements offer some exceptions to the rules but the clock is ticking to take advice before the changes are implemented. Check out my article for the full details 👇 https://lnkd.in/eEjrTWJ9 #InheritanceTax #Budget2024 #NonDomChanges

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More positive action by the Insolvency Service to protect the integrity of the UK's insolvency regime with Provisional liquidators being appointed to two companies offering corporate rescue and restructuring services as an alternative to using insolvency practitioners. More at https://buff.ly/3ykvg7a

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Are trusts or foundations required to report under the BOI rules? https://lnkd.in/gX4-FEDS Not all trusts/foundations must report: Requirements depend on specific factors. Key trigger: Registration with the state or formal entity creation. Exceptions exist: Some entities may qualify for reporting exemptions. Continue reading: https://lnkd.in/gX4-FEDS #CTA #CorporateTransparencyAct #BOI #AML #FinCEN #BeneficialOwnership #Business #BeneficialOwner #SmallBusiness #Startup #SMB #entrepreneurs #entrepreneur #finance #Compliance #entrepreneurship #bankingindustry #finances #banking #accounting #bank #b2b #bookkeeping #bankers #businessanalysis #businessbanking #bookkeeper #CPA #law #legal #lawfirm #lawyer #businesslaw #accountant #tax #accountingandaccountants Tax preparer, Corporate Transparency, enrolled registered agent, Corporate Transparency Act, BOI, BOIR, BOI reports & reporting, FinCEN, payroll

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A restructuring plan is a “compromise or arrangement” entered into between a company and its creditors and/or shareholders. Restructuring plans are a relatively recent addition to the corporate insolvency sphere, however, they are quickly becoming an extremely useful tool for companies looking to turn around their financial and operational fortunes. https://lnkd.in/eRQNKC8d

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HMRC’s changes to salaried member rules for LLPs Amendments to HMRC guidance for salaried LLP members when altering their capital contributions raise some red flags, warns Mike Hodges, tax partner at Saffery in an article on Accountancy Daily. Introduced in 2014, the salaried member rules apply to members of limited liability partnerships (LLPs) who for tax purposes are considered to be employees and therefore subject to employment taxes under PAYE and employer’s National Insurance Contributions, rather than as self-employed. Read the full article here: https://lnkd.in/eqbqekBP

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Overdrawn directors’ loan accounts can come to be a real cause for concern; particularly in the context of a company entering insolvency. Therefore it can help to understand as clearly as possible the nature of these financial facilities, how they work and why they can cause problems for directors and their creditors under certain circumstances. This article looks closer at the subject but if you have any more in-depth queries about overdrawn directors’ loan accounts then call you nearest Begbies Traynor office to arrange a free director consultation. https://lnkd.in/dK-KKJdx

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Overdrawn directors’ loan accounts can come to be a real cause for concern; particularly in the context of a company entering insolvency. Therefore it can help to understand as clearly as possible the nature of these financial facilities, how they work and why they can cause problems for directors and their creditors under certain circumstances. This article looks closer at the subject but if you have any more in-depth queries about overdrawn directors’ loan accounts then call you nearest Begbies Traynor office to arrange a free director consultation. https://lnkd.in/gaiA9DFM

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