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Stephen Hill Partnership Blog

Employee Ownership Trusts

Employee Ownership Trusts An owner of a trading company can now sell some, or all of their shares to an employee ownership trust (“EOT”) provided that certain conditions are met. The shares can be sold for full market value without incurring any Capital Gains Tax (“CGT”) liability. This structure...

Research and Development Relief

Background In 2000 the government introduced a scheme to encourage scientific and technological innovation within the United Kingdom. R&D is a Corporation Tax (CT) tax relief that may reduce your company’s tax bill if your company is liable for CT or, in some circumstances, you may receive a payable...

MTD for VAT: guidance updated:

HMRC have published an updated version of their guidance for businesses on Making Tax Digital for VAT. In particular, the guidance now includes information on how businesses should deal with petty cash transactions. Petty cash is traditionally a small amount of cash on hand that covers day to day...

Receipt Bank

Interested in reducing the amount of time you spend bookkeeping? Rather invest that time developing your business or with family and friends? Let me introduce you to Receipt Bank – The World’s Favourite Pre-Accounting Platform Founded in 2010 out of frustration from the amount of time and money lost...

Construction Scheme Domestic Reverse Charge

HMRC Guidance Note on the Reverse Charge for Construction Services   Introduction   The government has published a final version of the draft legislation, in the form of a statutory instrument which will introduce a VAT domestic reverse charge for building and construction services with effect from 1 October...