Articles & Insights

10th May 2022

HMRC’s use of ‘nudge’ letters – what do you need to know

HMRC has begun issuing further batches of nudge letters to taxpayers.  HMRC has used what has become known as ‘nudge’ letters since 2017 , designed to  prompt a response from the recipient. Following the introduction by the OECD of the Common Reporting Standard (“CRS”) in 2017 HMRC has received many millions of pieces of data […]

5th May 2022

Charity Trustee Roundtable – Equality, Diversity & Inclusion

“I was reading an article which was talking about belonging and that diversity and inclusion aren’t what matter anymore, but belonging is what counts. And I was thinking back to those times at school where you might have been the last one to be picked for something such as a sports team. But if you […]

3rd May 2022

How can Not for Profit organisations best manage their contracts and royalty agreements?

Many Not for Profit organisations are increasingly working with third parties to fulfil their organisational needs and services. For example, areas such as catering, branded merchandising, property management and working with fundraising agencies all require detailed contracts and licensing agreements. But how many are managing them in an effective way? We invite you to watch […]

26th April 2022

HW Fisher’s reaction to Labour’s pledge to replace ‘non-dom’ tax rules

Tim Walford-Fitzgerald, Partner, shares his thoughts about the announcement from the Labour Party to replace ‘non-dom’ tax rules. The practical impact of the changes are limited In reality, the practical impact of this announcement is limited. The complexities and interactions of the modern world, coupled with more traditional considerations such as family stability, mean that […]

20th April 2022

VAT Update from HW Fisher

Gerry Myton and Mike Block explain the latest updates and rulings affecting VAT.  Read more on the latest news from HMRC, key takeaways from recent VAT rulings, and a full analysis of recent VAT cases. HMRC News Plastic Packaging Tax is now mandatory The application of Plastic Packaging Tax shall be mandatory from 01 April […]

12th April 2022

Tax Implications of the Covid Pandemic

While international travel has now started to open up, the various travel restrictions put in place during the COVID pandemic mean that some individuals found themselves stranded either in or outside the UK. This has a number of potential implications for tax. In this article, we outline the importance of UK residence for tax purposes […]

11th April 2022

Insights from our Higher Education Chair of Audit Committee Roundtable

Higher Education Chair of Audit Roundtable – February 2022 – the current HE landscape At our recent Chair of Audit Committee roundtable, we were joined by Nolan Smith, Director of Resources and Finance at the Office for Students (OfS), where the current higher education landscape was discussed.  Here we set out some of the thoughts […]

11th April 2022

Register of Overseas Entities: What you need to know

The UK Government has introduced a ‘Register of Overseas Entities’ following The Economic Crime (Transparency and Enforcement) Act 2022 which was passed into law on 14 March 2022. The new rules require all overseas entities that own or buy land or property in the UK to register with Companies House and record the entity’s beneficial […]

6th April 2022

Not for Profit sector: A month in review

Carol Rudge, Partner & Head of Not for Profit (NFP) at HW Fisher provides an update on some of the top reports, news, and events for NFP organisations. This month has been particularly exciting for our team, as we have confirmed our attendance at two in person events – we can’t wait to attend and […]

6th April 2022

Tips for elevating positive impact

Charities are mission-driven by definition: delivering on their charitable objectives is embedded into their DNA.  We all know that charities do incredible game changing work.  However, how much of this impact created is actually captured and, beyond that, communicated to the target existing and potential audiences?  And how can impact be maximised through building win-win […]

6th April 2022

VAT update on charities that provide accommodation

The recent tribunal hearing in the case of City YMCA London v HMRC could have important implications for charities that provide accommodation. If you provide such accommodation, you need to ensure that you are set up in a manner that maximises VAT-efficiency. This case concerned the issue of a charity providing hostel accommodation to the […]

6th April 2022

What do unions need to be thinking about in 2022?

Unions 21 is a forum for unions to come together to explore our shared challenges and to look at practical projects and ideas to build tomorrow’s unions. Front and centre in our minds at the moment are the implications for unions in terms of the changing nature of work and the upcoming certification officer levy. […]

5th April 2022

New tax year: 10 changes that could impact your personal finances

As the 2021-22 tax year draws to a close, a lot of people have been wondering exactly when the current tax year ends and the new one starts. The UK tax year always ends on April 5th and starts on April 6th. Here’s 10 key changes on the horizon: State pension increases by 3.1%: The […]

24th March 2022

Spring Statement: 5 key takeaways

The Chancellor has announced his ‘mini-budget’ – here are our five key takeaways and initial thoughts so far. 1. Income tax Key takeaway: Basic rate of income tax will be cut from 20p to 19p in the pound before the end of this parliament Tim Walford-Fitzgerald, Private Client Partner says: “Dropping the one penny from […]

22nd March 2022

If I were Chancellor for a day…

HW Fisher outlines some quick wins for The Chancellor to consider ahead of the Spring Statement this week… Reduce fuel duty costs “The proportion of petrol costs going to the Government as tax ( VAT  and Duty) is high. The tax rate for a litre of unleaded retailing at £1.65 equates to 51.79% whilst for […]

11th March 2022

VAT Update from HW Fisher

In this month’s VAT Update Gerry Myton and Mike Block bring the latest updates from the world of VAT! Read on for more updates, information about HMRC’s first-ever seizure of an NFT, and a summary of recent VAT cases. HMRC NEWS Revenue and Customs Brief 2(2022): VAT on early termination fees and compensation payments After an […]

8th March 2022

How our partners are working to #BreakTheBias against women in the workplace

This International Women’s Day, we asked our partners how they’re working to break the bias for women in the workplace. From small changes to make women feel more included, to more systemic changes, we all have a role to play. “Working with the person rather than the gender ensures you work with the best possible […]

16th February 2022

Building your own Grand Design? VAT implications you must be aware of

The DIY House Builders VAT scheme allows people who build their own homes to reclaim the VAT incurred on their building costs, but not professional fees. The guidance published by HMRC sets out a strict and rigorous application process for each applicant to follow in order to receive a VAT refund. The foundations for a […]

27th January 2022

VAT Update from HW Fisher

In this month’s VAT Update Gerry Myton and Mike Block bring the latest updates from HMRC including the summary of responses from HMRC’s call to evidence on VAT land exemption, upcoming changes to Making Tax Digital, and the updates on the new VAT penalty regime. Read on for more updates and a summary of recent […]

27th January 2022

Plastic Packaging Tax: What you need to know

A new tax, Plastic Packaging Tax (“PPT”), is being introduced in the UK with effect from 01 April 2022 aimed at reducing single use plastic and encouraging the use of recycled plastic. In effect, it is an environmental tax that aims to change behaviour and increase recycling. What is it? Plastic packaging is defined as […]

21st January 2022

Hosting on Airbnb: tax tips on the house

The Airbnb market in the UK is booming. Before the pandemic there was over 223 thousand active listings on Airbnb in the UK. If you’re looking to tap into this market or currently earn an income through Airbnb or a rental property, it’s important that you understand the tax implications. HW Fisher share their advice […]

22nd December 2021

Property market 2022: changing tax legislation to be aware of

This year has been one of the busiest for the housing market in more than a decade. According to Zoopla, estimates show that there will be 1.5 million sales this year, with the total value of homes changing hands at £473bn, some £95bn higher than in 2020. As we head into 2022, HW Fisher shares […]

21st December 2021

Making Disclosures to HMRC

HMRC believes that taxpayers want to pay the right amount of tax and wants to help those taxpayers that are not paying the correct amount to put that right. HMRC will encourage you to come forward with a disclosure and admit to any irregularities, rather than the opposite which would be that HMRC uncover potential […]

20th December 2021

Trust Registration Service – what you need to know ahead of September 2022 deadline

In September, the Trust Registration Service (TRS) finally opened for the registration of non-taxable trusts. As a quick recap, the regulations were brought into effect in order to comply with a change in the anti-money laundering regulations. In a nutshell, this means any UK express trust which pays income tax, capital gains tax, inheritance tax, […]

14th December 2021

Tax Issues Affecting the Not-For-Profit Sector – HW Fisher Expert Webinar

We recently held a webinar on tax matters for Finance Directors and Finance Teams at Not for Profit organisations. Specifically we focussed on: • A VAT case update plus minimising the VAT/Duty cost of Brexit • International Employee matters including working from abroad and planning for secondments • Considerations of selling a property: Corporate tax […]

13th December 2021

Opportunities and Challenges in 2022

As we enter 2022, we continue to adapt to the new reality that is emerging in the wake of the coronavirus pandemic. There are both challenges and new opportunities on the horizon as we look ahead to the next 12 months. Andy Rich, Managing Partner, shares his priorities and expectations for the year ahead. Opportunities […]

13th December 2021

VAT Update from HW Fisher

In this month’s VAT Update Gerry Myton and Mike Block bring the latest updates from HMRC – including brief guidance on the Plastic Packaging Tax, VAT repayments by bank transfer for NETPs and full customs controls from 01 January 2022. Read on for more updates and a summary of recent VAT cases. HMRC NEWS Plastic […]

8th December 2021

How Universities can maximise the revenues generated from their intellectual property (IP) and save expenditure on their contracts

Revenues – royalty audit A number of universities hold patents that secure their intellectual property rights, whether it be in the field of technology, pharmaceuticals or processes generally. The multitude of their written works are secured by copyright. However, such protection only goes so far, for in the cut and thrust world of business, there […]

30th November 2021

Thoughts from our HE Chair of Audit roundtable in 2021

At our November HE Chair of Audit Committee roundtable, we were very lucky to be joined by Karel Thomas, Executive Director of the British Universities Finance Directors’ Group. We considered the current challenges in the higher education sector and what Audit Committee Chairs should be thinking about; the main areas discussed are set out below. […]

30th November 2021

Making sense of Students’ Union regulation

There’s a recent Twitter meme where the bland trips that men would take if time travel was possible are pilloried. My own journey would be back to 2004, explaining to myself – a newly elected students’ union officer – how important a part the 1994 Education Act would play on my career. Introduced by the […]

30th November 2021

Charity Trustees Virtual Meeting on Digital

At our October Charity Trustees virtual meeting, we were joined by Zoe Amar, a charity digital specialist who took our audience through the findings from her Charity Digital Skills Report, an annual barometer of digital skills, attitudes and support needs across the sector as well as posing questions about what boards should be thinking about […]

29th November 2021

How to avoid late penalties when filing your tax returns

The online self-assessment deadline, is the 31st January 2022. However, HMRC has announced that they are waiving late penalties until the 28th February. But, this is not an extension, late payment interest at 2.75% will still accrue from 1 February 2022. HW Fisher share their advice to make sure you file on time and correctly. […]

25th November 2021

Not for Profit sector – A month in review

In this month’s digest Carol Rudge provides an update on some of the top articles, reports, news, and events for Not for Profit (NFP) organisations. We cover the impact of the Autumn Budget, some thoughts on ESG reporting and highlight a report on how some universities are doing positive things in climate change. We also […]

16th November 2021

VAT Update from HW Fisher

Despite the Chancellor’s Autumn 2021 statement proving to be very light on changes to the UK’s VAT system, we are glad to present the following VAT update for October, covering the latest ECJ and Tax Tribunal Decisions, alongside the announcements from HMRC regarding the Balhousie case! HMRC News Revenue & Customs Brief 13 (2021) This […]

15th November 2021

Electric Cars – how can you benefit from the OZEV Government grant scheme?

In February 2021, the UK Government announced an updated OZEV grant scheme that sees £50 million devoted to installing electric vehicle (EV) charge points at homes and workplaces across the UK. Although the overall proportion of EVs on the UK’s roads remains low, a fifth of new car sales in September were either pure electric […]

12th November 2021

Meet the Team: Andrew Rich, Managing Partner

Andrew Rich is the firm’s Managing Partner, working with the Leadership Team and Partners to help provide clients with the expert, personable advice that HW Fisher is known for. Andrew’s role also includes shaping the culture of the firm, a responsibility he takes very seriously as he seeks to create a workplace where all employees, […]

9th November 2021

COP26 – Driving profit and purpose

While the hype around COP26 could be seen as all noise and no action, there is a real opportunity to reflect and consider how we can do things better. This year, we’re asking whether it’s possible for profit and purpose to coexist as business objectives, and what role accountants can play in achieving this balance. […]

28th October 2021

Autumn Budget 2021 Summary

This was a Budget set against a backdrop of the national debt. According to the ONS, the UK Government gross debt was £2.2 trillion at the end of the financial year ending March 2021, equivalent to 106.0% of gross domestic product (GDP). By comparison, this is 13.1% above the average of the 27 European Union […]

25th October 2021

A message to the Chancellor: bring back British fighting spirit for businesses

The Autumn Budget is taking place on 27 October 2021 with Rishi Sunak setting out the Government’s spending and financial strategy. He is expected to outline a number of measures to balance the books after billions of emerging spending during the Covid-19 pandemic. From business rates changes to expected minimum wage rises and energy price […]

22nd October 2021

Musicians Union – Case Study

We’re proud to work with some fantastic clients and we love to celebrate the brilliant work they are doing.  We spoke to the Musicians’ Union about how they have navigated the challenges of the last year, and what they will be focusing on going forward into 2022 and beyond. Tell us a bit about who […]

20th October 2021

The HMRC policy of ‘naming & shaming’

You may or may not be aware of this, but HMRC publishes the names of deliberate tax defaulters on their website. This is commonly referred to as ‘naming & shaming. A deliberate tax defaulter is a taxpayer who has been investigated by HMRC and charged a penalty for deliberate errors in their tax returns or […]

19th October 2021

Recovery Loan Scheme: What you need to know

Update (29th October 2021): During the Autumn Budget 2021, the Chancellor announced that the Recovery Loan Scheme would be extended until 30 June 2022. From 1st January 2022, the following changes will come into effect: The scheme will only be open to small and medium-sized enterprises The maximum amount of finance available will be £2M […]

29th September 2021

Meet the team – Jamie Morrison

Jamie Morrison leads our tax team at HW Fisher, working in the UK and Asia with private clients, entrepreneurs and family offices. We asked Jamie to share his career highlights and best advice he may have for clients, including why you can never rest on your laurels in tax! How would you describe your role […]

29th September 2021

Meet the team – Toby Ryland

Toby Ryland leads the corporate tax and VAT division at HW Fisher. With over 20 years’ experience Toby works with a wide range of clients across the technology, property, and retail sectors. In this Q&A Toby discusses what he enjoys most about his role at HW Fisher, how businesses should embrace a hybrid work policy […]

29th September 2021

VAT Update from HW Fisher

This month Gerry Myton and Mike Block bring the latest updates from HMRC – including their guidance on the VAT liability of COVID-19 testing services and the VAT treatment of gaming machines. Gerry and Mike discuss the government’s plans for eight new Freeports in England and the potential advantages for businesses. Read on for more […]

28th September 2021

New EU-commerce package for non-EU businesses – what do you need to know?

The EU introduced its e-commerce package on 01 July, including a new IOSS Registration for non-EU businesses. Who is affected? The IOSS allows non-EU businesses (i.e. UK businesses) to register for VAT in one EU country and account for VAT on all B2C transactions, with a value of less than 150 Euros, on one monthly […]

28th September 2021

National Insurance Tax Rise

Commenting on the recent hike to National Insurance announced this month by the Prime Minister, Tim Walford-Fitzgerald says “The imposition of a social care levy serves to increase the different levels of taxes payable by people with the same income but from different sources. By targeting workers the costs of care are borne by a […]

23rd September 2021

Business Strategy: Insights for Charities

‘Strategy’ is one of the most mis-used and grand sounding words in our business language.  After all, “What’s our strategy for dealing with this?” sounds so much better than “What do we do now?”  Simply put, your business’s strategies are the handful of priorities, within your control, which will increase your chances of success.  Executed […]

23rd September 2021

Brexit: Tips and Recommendations for Charities

We are now nine months into the UK’s trading life outside the European Union (EU). Leaving the EU has resulted in some major changes particularly in respect of VAT and Customs and the wider charity sector has struggled more than some sectors in adapting to the changes.  Outlined below are the changes and what charities […]

23rd September 2021

Why having a coach is a great privilege

I was inspired to train as a coach through having a truly inspirational coach myself. But before I talk more about that, I think it is important to share why I had a coach. I was lucky enough to work closely for many years with a truly inspirational leader, Sacha Romanovitch, and listened to her […]

15th September 2021

How Residence is Defined and its Implications on Individual Income Tax in China and the UK: Q&A

By Jie Su and Maria Kotova Individual income tax (IIT) is a very important part of payroll management. In both China and the UK, the tax treatment for resident taxpayers and non-resident taxpayers is different. Therefore, knowing whether you are a tax resident of the two countries is important. Dezan Shira & Associates and HW Fisher are qualified tax advisors and address […]

15th September 2021

The future of streaming – is it hitting the right note for artists?

The global recorded music market grew by 7.4% in 2020, the sixth consecutive year of growth according to IFPI, the organisation that represents the recorded music industry worldwide. Figures released recently in IFPI’s Global Music Report show total revenues for 2020 were US$21.6 billion. Streaming is a dominant force in that growth. Paid subscription streaming […]

9th September 2021

Not For Profit sector – A month in review

This month’s digest provides an update on some of the top articles, reports, news, and events for Not for Profit (NFP) organisations. Carol Rudge shares her opinion on governance in the NFP sector, looking at how directors can report the successes of their organisations, as well as how to achieve effective diversity on boards. On […]

2nd September 2021

Money is good, love is wealth: Finance tips for influencers

Love Island, the British summer TV hit, has traditionally been an influencer accelerator for the contestants that enter the villa each year. As their social following increases exponentially, more brands will be looking to work with the Islanders, but it’s not always smooth sailing with a number of financial and tax considerations that need to […]

24th August 2021

Will I face a furlough enquiry?

Are you one of the 1.3 million employers who claimed Coronavirus Job Retention Scheme (furlough) monies from HMRC from March 2020 as a result of lockdown following the global coronavirus pandemic? If so, what possible implications might you face from HMRC as they seek to scrutinise and follow up on possible incorrect or fraudulent claims […]

19th August 2021

Meet the team – Gerry Myton

Gerry Myton leads our indirect taxation team and specialises in not only VAT, but also duty matters. He began his career with Her Majesty’s Customs and Excise, the precursor to HMRC, before moving into positions within UK Top 40 accountancy firms. We asked Gerry to share his career highlights, how he stays up to date […]

19th August 2021

Get Ahead – VAT Update

In this monthly digest, Gerry Myton brings the latest updates from HMRC – including their recent business brief offering guidance on the repayment of VAT to overseas businesses not established in the EU and more detail on the new reduced VAT rate for hospitality. Since the Brexit transition period ended, HMRC implemented staged border controls […]

12th August 2021

Not for Profit sector – a month in review

It has been a busy month for the Not-for-Profit sector! This month’s digest highlights some exciting events hosted by the Charity Finance Group and the Charity Tax Group, addressing the impending challenges and opportunities for the sector.  In addition, we have included two interesting articles about the post-pandemic scenario, focused on office environments and employees. […]

11th August 2021

How do you value music: 3 things you need to know

Revenues generated by the music industry peaked in 1999, mostly due to the physical CD market. In stark contrast, the industry reached an all-time low by 2014, propelled by piracy driven declines (even though music downloads had been growing for a decade). Fast forward to 2021 and access to music has never been easier and […]

5th August 2021

M&A activity in 2021

Our Corporate Finance Team specialise in transaction services and corporate finance, dealing with all areas of transaction services, including vendor and purchaser due diligence, acting as reporting accountant for companies looking to list on the Alternative Investment Market (AIM) and preparation of business plans or financial forecasts. Following a busy start to 2021, the team […]

29th July 2021

COVID – working from paradise?

A few years ago, I was lucky enough to spend a fair amount of time on the beautiful island of Barbados.  So when the Barbados government announced the launch of the Welcome Stamp visa to encourage remote workers to spend twelve months in Barbados, I must confess, I was more than a little tempted. Pre-COVID, […]

28th July 2021

Search Funds Q&A with Simon Webster

To gain more insight into the world of search funds, from someone who has been involved in search funds for many years and has experience from both sides (of being a searcher and an investor), we spoke to Simon Webster. Simon was the first person outside North America to create a search fund. Having learnt […]

23rd July 2021

Furnished Holiday Lets – Here is what you need to know

If you own and run a Furnished Holiday Let (“FHL”) now would be a good time to take stock of the key points and whether any of the below elections may assist you with the issues caused by Covid-19. As with many tax regulations, it’s easy to be blinded by the detail and it is […]

23rd July 2021

Brexit: Exports to private customers

by Gerry Myton, Partner – Head of Indirect Tax What changes are being made? Brexit has resulted in several major changes for UK businesses who are involved in the movement of goods outside the UK. From the 1st January 2021, any movement of goods outside the UK is treated as an export. Exports are zero-rated for […]

23rd July 2021

HMRC Revenue and Customs Brief 7 (2021): VAT on electric cars

HMRC have recently released a new brief which discusses HMRC’s policy on the VAT treatment of charging electric vehicles and an entitlement to recover VAT on the cost of charging. VAT Treatment of Electric Vehicle Charging in Public Places Businesses have sought clarification from HMRC with respect to the correct VAT treatment of supplies of […]

23rd July 2021

Basis Period Reform: Impacts for Partnerships and Sole Traders

The government has released a document outlining the current rules for basis periods and setting out a specific proposal to simplify them. The proposal affects the self-employed, partnerships, trusts, and estates with trading income. For the last 25 years sole traders and partnerships have had a well understood arrangement- the taxable profits are based on […]

22nd July 2021

Fifth SEISS: New rules for the self-employed on the way – all you need to know

The Self-Employment Income Support Scheme (SEISS) grant has helped millions of self-employed people across the UK whose business and income has been affected by the pandemic. Applications for the fourth round of grants ended at the beginning of June 2021 but a fifth round is on its way later this month. If you think your […]

13th July 2021

Making change happen on the road to gender equality

Since its launch, the WealthiHer Network has made significant progress in supporting women’s economic advancement by equipping them with the knowledge they need to prosper and rise. The “RISE: Female Financial Futures Reimagined” event hosted by the WealthiHer Network was a continuation of that conversation, taking place at The Ned, where the network was launched […]

9th July 2021

Corporate Establishment Process for Businesses in China

The establishment process varies based on one’s chosen investment structure and planned business scope. For example, setting up a manufacturing FIE requires an environmental evaluation to be completed, setting up a trading FIE must comply with the customs/commodity inspection requirements, and setting up simple services FIE may require neither. Establishing a foreign investment structure in China generally […]

9th July 2021

Company Holding Structure for Businesses in China

Does it make sense to use a Holding Company? Many companies choose to establish holding companies, or “special purpose vehicles”, in jurisdictions, such as Hong Kong or Singapore, to hold their Chinese entity. Holding companies allow for an additional layer of distance between the Chinese subsidiary and parent company and can “ring-fence” the investment to […]

9th July 2021

Choosing a Location to Set Up Your Business in China

Choosing a location is one of the first decisions that British companies must make when entering a new market. Location and a strategic site selection plan can have a major impact on the success of the business, affecting production, operation, and sales. British companies looking must take steps to ensure they have the right information […]

9th July 2021

Pre-Establishment Considerations for British Investors Setting Up in China

With an increase in the number of establishments in China from UK companies, it is highly advisable to seek professional assistance to guide British Investors through the complex setup procedure and outline the roles and responsibilities of key positions in the company. This can be a critical factor in ensuring the success of the venture […]

9th July 2021

Meet the Team – Andrew Subramaniam

Andrew brings over 30 years’ experience working with many best-selling authors and household names in the media world, as well as talented creatives in the early phase of their careers. No matter what stage a client is at, his goal is always to make a significant contribution to their financial security and prosperity by minimising […]

7th July 2021

Turning challenges into opportunity: VOCES8 Foundation

The Show Must Go On: Supporting Artists and Creating a Worldwide Arts Community through Digital Innovation Partner: Andrew Rich Client: VOCES8 Foundation In three sentences, what does the VOCES8 Foundation do? The VOCES8 Foundation leads the music world in its innovative business and music education models, with a worldwide reach, diverse music offerings and collaborations all […]

23rd June 2021

IR35: 10 Things you need to know

If you are a business who engages with contractors or you are a worker who uses a personal service company, you may have heard about IR35. Contractors, recruiters and employers should make sure they have taken the time to understand the rules. As with many new tax regulations, it’s easy to be blinded by the […]

23rd June 2021

Life after “EU” – an update on global mobility and social security post-breakup

In addition to the wrangling and ongoing negotiations as part of one of the biggest breakups in history, navigating the new rules as part of the social security system can be difficult post-Brexit. Determining where social security contributions should be paid, and by whom, should therefore be a fundamental part of the planning process for […]

23rd June 2021

What is a search fund and why are they becoming more popular?

A Search Fund is specialist vehicle in which investors back a promising individual (entrepreneur) rather than an existing start-up team. Often these entrepreneurs, or searchers, have completed an MBA or similar and are looking for a way to run their own business, but do not have their own ‘big idea’ to start from scratch. With […]

17th June 2021

Latest on the VAT Payments Holiday – all you need know

To support businesses during the COVID-19 pandemic, the UK Government announced temporary changes to the VAT system. Many organisations took advantage of the VAT payment deferral scheme, allowing them to defer payments that fell between 20 March 2020 and 30 June 2020 until 31 March 2021, with no interest or penalties. This includes the VAT […]

17th June 2021

The Chancellor set to reject furlough extension despite Freedom Day delay

Speaking on the Chancellor’s proposed plan to reject calls for an extension of the furlough scheme, Simon Michaels says “The Chancellor finds himself in the ultimate ‘rock and a hard place’ over furlough. There is no question that furlough has enabled businesses to survive since March last year. Removing furlough too early will certainly result […]

8th June 2021

Brexit update: six months on

by Gerry Myton, Consultant The impact of the UK leaving the European Union (EU)  on VAT and Customs remains profound. The below highlights some of the major changes to be aware of. Movement of Goods Goods coming into the UK from the EU are now treated as imports and movements of goods from the UK into […]

8th June 2021

Brexit changes: Understanding the Northern Ireland Protocol

by Gerry Myton, Consultant Since the UK left the European Union (EU) there have been some changes to VAT and Customs rules for businesses trading in goods with, and within, Northern Ireland. Under the Northern Ireland Protocol (NI Protocol), Northern Ireland (NI) will be treated as part of the UK for VAT purposes. It will […]

28th May 2021

Understanding tax on cryptoassets

by Daniel Tomassen, Manager – Private Client Department Cryptoassets are private digital assets that use cryptography and are designed to work as a medium of exchange. In recent years, they have attracted the attention of HMRC who have recently updated its guidance on taxation. Here we take a brief look at HMRC’s latest guidance and […]

28th May 2021

The latest Supreme Court ruling you need to know about

You may have seen some publicity recently following the Supreme Court judgement in HMRC v Tooth, 2021 What happened? In summary, the taxpayer (Raymond Tooth) won his case in that there was no deliberate inaccuracy in his 2007/08 return and the discovery assessment raised by HMRC some 6 years after the return was filed was […]

26th May 2021

Life gifts: when is a gift not a gift?

The harsh reality of the Covid-19 pandemic has driven many people to start making plans for the future, and think carefully about  how they want their estate to pass following death. Reduction in potential Inheritance Tax may be a major factor in the actions people take but there are issues of law to be aware […]

26th May 2021

Writing business: What authors need to know when setting up a company

Many authors operate through limited companies but are they always necessary and beneficial? Here we take a look at the latest tax implications, to help you make the right decision. Income Tax and National insurance The first thing to consider is the likely level of annual income. Income Tax is payable by individuals on a […]

24th May 2021

Authors, literary agents and VAT: a quick guide

Establishing when to apply VAT to a transaction, and at what rate, can be a common area of confusion, particularly when international elements are involved.

14th May 2021

Introducing Stevie Heafford, Tax Partner

Stevie recently joined our tax team and brings a wide range of tax experience, including in trusts and estates, personal and corporate tax matters . Stevie will be working with owner managed business and high net worth individuals to provide high quality tax advice. Stevie shares why she’s passionate about working with clients to help […]

14th May 2021

Introducing Richard Morley, Tax Partner

Richard recently joined the Tax team and brings decades of specialist experience in resolving tax investigations and disputes with HMRC, covering private clients, corporates and charities. Richard outlines exactly what tax resolution involves, shares his thoughts on the last 12 months, and explores the learnings we can take with us as we create new normal ways […]

29th April 2021

Introducing Carol Rudge, Head of Not for Profit

Carol brings over two decades experience in charities and not-for-profit, she is a member of the Charity Commission’s SORP committee and has worked with many leading charities, universities and other NFP bodies across a broad spectrum of areas with a particular emphasis on external audit. Carol shares some of her career highlights, her top advice […]

29th April 2021

The road to zero – are electric cars really leading the charge?

A decision many people postponed during the pandemic was buying a new car. Registrations for new cars fell to their lowest in almost 30 years in 2020.  For others, however, it was the year many decided to go electric with over 108,000* electric vehicles sold in the UK – accounting for approximately one in 20 […]

22nd April 2021

Earth Day – Driving profit and purpose

While the hype around Earth Day could be seen as all noise and no action, there is a real opportunity to reflect and consider how we can do things better. This year, we’re asking whether it’s possible for profit and purpose to coexist as business objectives, and what role accountants can play in achieving this […]

29th March 2021

Q&A with Muneeza Baig, Audit Partner

Muneeza Baig works with a range of clients across a variety of sectors, from grant making, membership, independent schools, arts, disability and religious organisations. Joining HW Fisher as a trainee in 2001, she became a Partner earlier this year.   What is your role at HW Fisher? I am a Partner in the Charities and […]

29th March 2021

The power of allyship – getting it wrong, learning from mistakes, and making change happen

Before we dive into this topic, we have to define what we mean by allyship – here is a formal definition: Allyship – the practice of emphasizing social justice, inclusion, and human rights by members of an ingroup, to advance the interests of an oppressed or marginalized outgroup. What’s important with this definition is that […]

26th March 2021

Tax Day – what do you need to know

This week, the Government published more than 30 tax updates, consultations and documents in a move designed to strengthen policy making and modernise the UK’s tax system. We have highlighted below some of the key proposals, and what they mean to UK taxpayers. As ever, if you have any questions about your own personal circumstances, […]

18th March 2021

Insights to thrive in 2021 from leading business advisers: A conversation with Linda Plant and Simon Michaels

Linda Plant is well-known for her no-nonsense business counsel on BBC’s The Apprentice, as one of Lord Sugar’s trusted advisors in the interview stage. With years of business experience under her belt after having built a successful fashion business from scratch, Linda has recently launched The Linda Plant Academy and the Business Blueprint Club to […]

9th March 2021

Celebrating International Women’s Day at HW Fisher

International Women’s Day is a global day celebrating the social, economic, cultural and political achievements of women, and also marks a call to action for accelerating women’s equality. Lily Montgomery, one of our Partners, lead a campaign asking our staff how they were choosing to challenge gender inequality this year, and we were proud to […]

23rd February 2021

March budget 2021 – how do you solve a problem like a £400bn deficit?

HW Fisher’s wishlist for the March 2021 Budget March 3rd will be the first post-Brexit Budget, but for obvious reasons, this fact has almost been swept under the carpet, as the Government grapples with public finances and the need for a clear covid recovery plan.  According to the Institute for Fiscal Studies (IFS) the UK […]

18th February 2021

Q&A with Jie Su, Assistant Private Client Manager

Jie Su looks after a varied portfolio of clients in different sectors including authors and retail businesses. Originally from China, she settled in the UK in 2011, and is the primary point of contact for Chinese speaking clients who require advice on UK based property and business investments. Jie is a member of ACCA and […]

5th February 2021

5 reasons why you should undertake a royalty audit

Head of Music Royalty Audits Robert Fowler discusses the complexities of royalty accounting and why a royalty audit could unlock additional revenue. Anyone that has worked in royalties at a record label knows royalty accounting isn’t simple. There’s a myriad of activities and entities involved in the process and often things just go wrong. When […]