Articles & Insights (Index)

25th May 2021

Deadline reminder: all you need to know about SEISS 4

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. There have been three rounds of payments so far, with the deadline to make a claim for the fourth grant to be made on or before 1 June 2021. […]

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

HW Fisher joins WealthiHer Network

HW Fisher, a top 25 UK chartered accountancy firm, has joined the WealthiHer Network as its latest partner. Founded in 2019 the Network is an essential force for change, championing the transformation of the financial industry’s approach.  In turn, helping women to be more understood, accepted and catered for and in doing so, providing support […]

14th May 2021

A Day in the Life of Travis Martin, Trainee Tax Adviser at HW Fisher

Ever wondered  what a trainee tax adviser gets up to each day? Travis Martin, a trainee in our Private Client department, talks to us about his role at HW Fisher, from the most important tasks of the day, to why he likens working in accounting  to the satisfaction of completing a Sudoku. We’re intrigued…   […]

14th May 2021

A Day in the Life of Caitlin Dolan, Trainee Tax Adviser at HW Fisher

What does a day in the life of a trainee tax adviser look like? Caitlin Dolan is a trainee in our Private Client department and gives us the lowdown on a typical work day, from what she does to start and finish her day to how she stays up to date with finance and tax […]

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 […]

5th May 2021

HW Fisher announces four Partner appointments

HW Fisher, the top 25 UK chartered accountancy firm has today announced the hire of four external Partners as it continues its recruitment drive to bolster its partnership team. Richard Morley, Melanie Hicks, Stevie Heafford and Tajinder Bhalla have all joined HW Fisher’s tax department. These new hires bring a wealth of diversified and specialist […]

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 […]

28th April 2021

HW Fisher LLP advises Storskogen on debut UK acquisition

Storskogen, a Swedish privately owned company, has made its first acquisition in the UK, acquiring SGS Engineering – the leading e-commerce retailer of power tools and related products in the UK. The transaction was completed in April 2021. HW Fisher LLP, a top 25 accountancy firm, undertook financial due diligence on SGS Engineering and advised […]

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 […]

21st April 2021

Ashtrom Properties UK’s £82 Million Acquisition Of No. 8 First Street

Ashtrom Properties UK acquired No. 8 First Street, a prime office development in Manchester – one of the largest single-asset transactions in Manchester for several years. No.8 stands in the centre of Manchester’s £500m First Street development and delivers 170,000 sq. ft. of Grade A, BREEAM Excellent office accommodation over six floors. The scheme was completed […]

20th April 2021

Bouncing back… at what cost?

Over 1.4 million businesses took out a Bounce Back Loan last year. The scheme, which closed to applications on 31 March 2021, was heralded as a lifeline to many businesses, giving them much needed confidence and optimism as they struggled against the backdrop of Covid restrictions. Throughout the pandemic, the trading environment has been persistently interrupted, with many finding it impossible […]

7th April 2021

HW Fisher appoints Carol Rudge as Head of Not for Profit

HW Fisher, the top 25 UK chartered accountancy firm has bolstered its specialist Not for Profit team with the appointment of Carol Rudge as Head of Not for Profit (‘NFP’). HW Fisher has been working in the NFP sector since 1933, assisting organisations of all sizes. Using her significant experience in the sector combined with […]

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 […]

3rd March 2021

Today’s budget: a short term recovery plan, but more detail to come… [UPDATED]

This Government has grappled with the largest deficit since World War Two and the need for a clear Covid recovery plan in this Budget. It is clear from the Chancellor’s speech yesterday that he has prioritised a short term recovery plan, which is welcomed by so many struggling UK businesses. However, the UK needs tax […]

2nd March 2021

HW Fisher announces four Partner promotions

HW Fisher, the top 25 UK chartered accountancy firm has today announced the promotion of four new Partners to bolster its partnership team. As of 1st March 2021, Muneeza Baig, Adam Bonell, Simon Michaels and Lily Montgomery will all be HW Fisher Partners bringing the firm’s total to twenty-six. Having been at the firm for […]

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 […]

29th January 2021

Q&A with Rafi Saville, Forensic Partner

Rafi Saville joined HW Fisher 24 years ago. He quickly rose through the ranks, becoming a partner after only 8 years and now leads the firm’s busy forensic accounting department with fellow partner Stuart Burns. HW Fisher Forensic’s client list boasts more than 160 well-known companies, brands and individuals, including some of the UK and […]

29th January 2021

Business Interruption Insurance: what does the Supreme Court’s judgment mean for businesses?

The landmark Business Interruption Insurance court case came to an end this month as the Supreme Court ruled in favour of small businesses forced to close their doors nearly a year ago due to the pandemic. Here we share our guidance on what to do if your business has been affected by Covid-19 and are […]

27th January 2021

No self-assessment late filing penalty for those who file online by 28 February

HMRC has this week announced there will be no late filing penalty for those who file their self-assessment tax returns online by 28 February, removing the vagueness indicated before. Jamie Morrison, our head of private client says: “This announcement from HMRC is good news to those still rushing to fill out their self-assessment forms. The […]

27th January 2021

New year, new finances – 3 reminders for authors going into 2021

It’s a new year and a renewed opportunity to catch up on your finances and ensure you are benefiting from all avenues of income open to you. Public lending rights and the Authors Licensing and Copyright Society are two areas that are often missed by authors, but it can make a big difference! Public Lending […]

11th January 2021

HW Fisher provides due diligence for MagiClick’s acquisition of financial services specialist Dock9

MagiClick, a leading provider of digital technology and design capabilities with a strong presence across Turkey and the MENA region, announces its acquisition of Dock9 as part of its strategy to become the leading financial services technology and digital experience agency within Europe. MagiClick’s client roster includes more than 20 financial institutions such as HSBC, […]

8th January 2021

Brexit: What you need to know about the UK leaving the EU

After months of negotiations, the UK and European Union finally agreed a deal that will define their future relationship, which has come into effect as of 1st January 2021. The deal contains new rules for how the UK and EU will live, work and trade together.  For some clients, little may change, but there are […]

8th January 2021

Protecting your brand the supply-side way

If you or your company has a brand you have carefully built up over the years, the last thing you want is to lose control of how it’s used. And one of the key issues involved in maintaining the integrity and value of a brand in the marketplace is controlling the supply.

5th January 2021

Less than a month to go until self-assessment – avoid these common mistakes!

On the 5th of January 2021, HMRC confirmed 55% of Self-Assessment customers have already filed their return. We are urging those who still haven’t completed to do so by 31 January. Our Head of Private Client, Jamie Morrison explains: “Anyone who earns over £100,000, has become self-employed, received high levels of investment income, or has […]

5th January 2021

The Chancellor must now prioritise solving the relationship between Landlords and Tenants

Commenting on the latest financial support measures announced by the Chancellor today, Russell Nathan, head of our Hospitality team says: “The latest support offered today by the Chancellor for the retail, leisure and hospitality industries is of course welcome. These sectors have taken the biggest hit when it comes to the restrictions caused by the […]

4th January 2021

5 reasons why royalty audits are worth your time and money

Royalty audits are not a phenomenon that is too well known outside particular sectors of the economy but they are, in fact, hugely important to owners of valuable IP such as authors and their publishers, technology companies, fashion houses and even Premier League football clubs who increasingly rely on overseas merchandising.

15th December 2020

Crisis Management in Charities

An unexpected crisis can dominate a charity and stagnate a charity’s activities. Knowing the essential steps in dealing with a crisis is important and can save considerable time and anguish if one were to arise. In February 2018, there was a spate of high-profile charities facing public scandals. In short order, Oxfam and Save the […]

14th December 2020

Where there is a challenge, there is opportunity! Reflections on 2020

2020 has been a year unlike any other. It has been a challenge for all of us, in all walks of professional and private lives, but where there is a challenge, there is also an opportunity! Our hope is the world starts to get back some form of relative “normality”, but that we learn from […]

11th December 2020

Taxation of SEISS grants: What you need to know

The extension of the Self-Employment Income Support Scheme (SEISS) has been welcomed by many and will support small businesses until the end of the tax year. Although 2020-21 Self-Assessment returns are not due until 31 January 2022, it is worth looking at the taxation of the grants received and how this will affect your tax […]

11th December 2020

Heirs continue to be stung by inheritance tax

As the saying goes, there are only two things certain in life – death and taxes. The phrase comes to mind as the UK government have recently announced a third successive year of an increase in estates being subjected to Inheritance Tax (IHT). Broadly, IHT is levied at a rate of 40 per cent on […]

8th December 2020

Future of hospitality – navigating prolonged uncertainty

It’s been a difficult year for our clients and friends in the hospitality industry. Businesses across the sector have had to push the boundaries of creativity, finding new ways to drive trade and give consumers a level of confidence to continue dining out as much as they can. With areas across the UK continuing to […]

27th November 2020

Are you virtual Christmas party ready?

Some good festive news to end on this month. There was some speculation that HMRC would not give the green light for UK employers to take advantage of the annual function exemption if they were holding a Christmas party virtually this year. The exemption means no tax or national insurance contributions are payable on costs relating to […]

26th November 2020

Q&A with Robert Fowler, Head of Music Audits – Forensic

This month saw Robert Fowler join the HW Fisher team to help expand our music royalty audit offering, a sector that has increased in demand this year, as touring income has declined for the industry. Robert’s experience includes working globally with high profile recording artists and songwriters throughout Europe, the USA, Japan, Russia, and China. […]

26th November 2020

Spotlight on Business: Interview with Yugna Shah, founder of The Painted Peacock

It’s a tough time for small businesses, to find out more we spoke (virtually) to Yugna Shah, tax manager turned chocolatier to discuss how she navigated her business through a turbulent year. The Painted Peacock is the realisation of a dream to share positive vibes through good quality chocolate – so who better to talk to […]

25th November 2020

Accounting Implications of Covid-19 Support Under FRS102 [UPDATED]

With so many different loans and grants available to businesses during the Covid-19 pandemic there are many new challenges in how to account for the various support schemes available. Here we discuss some of the main forms of support available and being utilised by businesses and offer guidance as to how to account for these […]

19th November 2020

Caution: CFOs of growing UK large businesses need to plan for a different relationship with HMRC

CFOs of large UK business approaching group turnover of £200m and/or net assets in excess of £2bn need to be preparing for a change in the way HMRC deal with large companies. This applies to large UK companies, either of UK groups or UK subsidiaries of overseas parent companies. What will change? Large UK businesses […]

18th November 2020

Covid-19: Top 10 considerations when it comes to protecting your business against fraud

Covid-19 changed the way we work overnight. And as we rapidly pivoted to working from home, the pandemic also changed the environment for criminals to commit fraud. As we adjust to a new way of working, it’s really important for companies to take stock and ensure that their systems, procedures and internal controls are adapting […]

11th November 2020

More help on its way for the self-employed! The SEISS scheme explained.

Following the announcement of a second lockdown, the government have announced an extension of the self-employed income support scheme. This scheme received praise during the first lockdown as it softened the blow for the majority of those who operate as self-employed. What does the second scheme mean? On 5 November 2020 it was announced that […]

5th November 2020

Furlough scheme extended until March – reaction from HW Fisher

Commenting on the announcements made by The Chancellor on an extension to furlough today, Simon Michaels, partner at accountancy firm HW Fisher said: Businesses will be able to breathe a sigh of relief for the first time in months. It’s not over yet, but an extension to furlough is a positive step. It continues to be […]

5th November 2020

All change! (again) – an overview of changes to Government support packages

We have lost count of the number of changes and announcements from The Chancellor that have been made since March. With the support available in a constant state of flux, it can be difficult to keep up with the latest measures. We have put together a simplified overview of what the latest measures mean and […]

30th October 2020

Life after Furlough: what we want to see from Government

As the Furlough period comes to an end, businesses in the hospitality sector will be taking a long hard look at their future. Despite a tough outlook, it has been positive to see the strength and determination across the industry. This week alone, we have seen businesses across the hospitality industry rally together in support […]

29th October 2020

How to manage intellectual property ahead of Brexit

So far, the protection of EU intellectual property rights has continued to apply as normal in the UK, but this will not be the case after the expiry of the transition period. The UK is the second largest EEA country by GDP (around 15% of the EEA’s total GDP) and from the 1st January 2021, […]

29th October 2020

How your business can benefit from Kickstart

How can you and your employees benefit from the Kickstart scheme The Kickstart scheme was launched by the Government to ‘help young people into work and spur Britain’s economic revival’. It is for young people aged 16-24 who are on Universal Credit and the Government has set aside £2 billion for the subsidized scheme. For […]

29th October 2020

Countdown to Brexit: Top 6 tax issues businesses should be thinking about

BREXIT is fast approaching on 31st December 2020 and although a comprehensive trade deal may be agreed prior to that date, at this point in time a No Deal is looking most likely.  If they have not already done so, businesses urgently need to assess the tax impact on their businesses that are likely to […]

28th October 2020

How to avoid a last minute panic when filing your tax return

Ahead of the paper self-assessment deadline, 31st October 2020, HW Fisher share their advice to make sure you file on time and correctly. Confused about whether you need to file? Self-employment and side hustles are continuing to rise during these uncertain times. However, it’s not just these individuals who have to complete self-assessment tax returns, […]

26th October 2020

The Chancellor’s latest support scheme – an FAQ

The latest Government measures come just weeks after the Chancellor’s Winter Economy Plan and Extension to the Job Support Scheme. With the support available in a constant state of flux, it can be difficult to keep up with the latest measures. We have put together a simplified FAQ of what the latest measures mean and […]

26th October 2020

Planning for a strong 2021 – strategies charities can put in place now

In the past few months, the pandemic has had a seismic impact on charities, and reinforced some of the wider challenges charities face. While dealing with the immediate impacts of coronavirus, it is also vital that charities continue to plan ahead and work towards a stronger 2021. As part of this planning, there are a […]

22nd October 2020

Chancellor’s revised measures: It’s a big ask for employers to fund a ‘redundant workforce’

Commenting on the revised measures announced by The Chancellor today, Simon Michaels, CEO of Business Solutions at accountancy firm HW Fisher said: “This is clearly targeted at the most vulnerable businesses – hospitality, leisure and retail and of course any support is welcome. However will this be a sufficient incentive for businesses already struggling to […]

16th October 2020

Financial due diligence – is it really necessary?

If you are considering making a business acquisition you will no doubt have considered the legal requirements in terms of negotiating a sale and purchase agreement and legal due diligence to ensure basic ownership issues are satisfied, but have you also considered the benefits of financial due diligence? Or the risks involved of not undertaking […]

15th October 2020

Tier 2 lockdown measures catastrophic for the hospitality industry

Commenting on the Tier 2 restrictions announced today, Russell Nathan, head of hospitality, said: “The tier 2 lockdown measures announced today will be catastrophic for pubs and restaurants in London. This will result in a huge drop in revenue and with no financial help on offer from the government they are being served a double […]

14th October 2020

Covid-19 Support Schemes come to an end – what happens next?

Two of the Covid-19 funding schemes introduced by government to support businesses are coming to an end, with claim deadlines approaching this month. The second Self-Employed Income Support Scheme (SEISS) grant, announced in June, comes to an end this month. Self-employed taxpayers have until 19 October to claim the SEISS grant. The Coronavirus Job Retention […]

14th October 2020

Job Support Scheme Extension – your questions answered

The new measures come just two weeks after the Chancellor’s Winter Economy Plan, where he announced the Job Support Scheme – billed at the time as a replacement for furlough. The support available is in a constant state of flux, and it can be difficult to keep up with the new measures, what they mean […]

9th October 2020

The Chancellor’s local furlough scheme – initial reactions from HW Fisher

Commenting on the announcements made by The Chancellor on furlough changes today, Russell Nathan, head of hospitality at accountancy firm HW Fisher said: “It’s a serious time for British business. The extension to furlough measures are reassuring, especially for those in hospitality who are forced to shut their doors, but the Government are still missing […]

25th September 2020

Manage your HMRC queries effectively using our Tax Investigation Service

Over the past few months, we have all faced a truly unprecedented situation. The global coronavirus pandemic has affected our families, our businesses, our communities and our way of life, in ways that we could never have envisaged. It is more important than ever that you have the right financial protection in place. The full […]

24th September 2020

The Chancellor’s Winter Support Package – initial reactions from HW Fisher

Commenting on the announcements made by The Chancellor on a winter support package today, Simon Michaels, CEO of HW Fisher Business Solutions said: “It’s a serious time for British business. We’re six months into lockdown and businesses are feeling prolonged economic pain. The new jobs support scheme outlined is a positive step, but 6 months […]

24th September 2020

Can licence agreements in the gaming industry hold water?

Digital transformation in the gaming industry has only been accelerated by the coronavirus pandemic, with the global video game market now forecast to be worth $159 billion in 2020 – around four times box office revenues and almost three times music industry revenues. The potential for new revenue streams as a result of digitalisation in […]

24th September 2020

The reform of Capital Gains Tax

Capital Gains Tax (“CGT”) is a relative newcomer to the tax party, having been introduced to the UK in 1965, but it may be only just behind pensions in the race to be the next political talking point. Most people understand the idea of their income being taxed at particular rates, and the higher your […]

24th September 2020

Untangling royalties in the gaming industry

Licensing and royalties in the gaming industry are complex, particularly with the accelerating trend towards digital gameplay and the rise of new platforms for distributing games to players. Our Forensics team unpack examples of the financial considerations involved in the gaming industry and shed light on the key facts of recent high-profile news events. Case […]

23rd September 2020

New curfew for hospitality is another blow to the industry

Russell Nathan, hospitality expert at accountancy firm HW Fisher comments: “This announcement is another blow to the struggling hospitality industry, who have been patient and flexible throughout the pandemic. No doubt they will pivot successfully again to encourage earlier evening meals, but with distancing and the weather closing in, the outlook is simply not economically […]

23rd September 2020

Covid-19 recovery: make the most of additional funding available

Among some of the various Covid-19 recovery schemes introduced by government to support businesses, is a new, little known, fund of £20 million from which business can access grants. Who is eligible for these grants? The grants are available to small and medium sized businesses in England. The size of the grants are between £1,000 […]

15th September 2020

High Court – Business Interruption Insurance – businesses must now pay attention

Commenting on the decision made by the High Court today on the landmark Business Interruption Insurance case, Rafi Saville, forensic partner at accountancy firm HW Fisher said: “This is a landmark case and one of the most controversial legal issues resulting from the coronavirus crisis. Today’s decision will affect over 400,000 small and medium businesses […]

26th August 2020

Q&A: All you need to know about the Business Interruption Insurance court case

Nearly 400,000 small businesses are waiting to see if insurers will be forced to pay out on their business interruption policies after a landmark High Court case was heard in August. The issue of whether business interruption insurance policies cover pandemic-related losses is one of the most controversial legal issues resulting from the coronavirus crisis. […]

24th August 2020

Reverse charge VAT on construction services

The new VAT reverse charge for construction services comes into force on 1st March 2021.  It applies to certain supplies of construction services by construction businesses to other construction businesses where both are part of the Construction Industry Scheme (CIS).  The measure is aimed at tackling missing trader fraud within the construction sector but will […]

17th August 2020

No more bank of mum and dad! Is this a trend set to continue?

Nationwide, the UK’s second-largest mortgage lender, recently announced a policy change, implementing restrictions on first-time buyers trying to get on the housing ladder. For these buyers, the changes are two-fold: 1) 75% of their deposits must have been saved independently, and 2) they must be buying properties at least 2 years old. With around 40% […]

12th August 2020

Guidance for charities entering the second half of 2020

As we enter the second half of 2020, it is important for charities to take stock of best practices, and to lay a strong foundation for any future uncertainties that Covid-19 may present. In the past few months, the pandemic has had a seismic impact on the sector, and our charity team has put together […]

31st July 2020

Business Interruption Insurance – why businesses should follow the High Court case closely

The covid-19 pandemic has resulted in unprecedented financial challenges for businesses across the UK. For those in the hospitality and leisure industry, many have had to close their doors, on the advice of government, for several months and counting. The fate of many small businesses, particularly in the leisure industry, is now in the hands […]

30th July 2020

Eat Out to Help Out scheme is proving wildly unpopular

From August, The Eat Out to Help Out scheme will be introduced, however Russell Nathan, senior partner, explains why it might not be as popular as first thought: “The eat out to help out scheme was initially warmly received by the industry. However in practice, it’s proving to be widely unpopular among restaurateurs, independents in […]

30th July 2020

Making Tax Digital – false alarm or not?

We’ve had false alarms from HMRC before but this time it looks as if they are serious. Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) means that all self-employed people, small businesses and landlords (including sole traders) with annual turnover in excess of £10,000 will have to file income and expenses information every […]

29th July 2020

Disposals of UK residential property – New reporting regime

The reporting and payment of capital gains tax on disposals of UK residential property changed with effect from 6 April 2020. In practice, the change means that where a sale of a UK residential property results in a gain, this must be reported to HMRC within 30 days following the date of completion and the […]

20th July 2020

It’s time for businesses to rewrite the rulebook

If your business can’t wait until January for the retention bonus scheme, Simon Michaels, CEO of HW Fisher Business Solutions outlines what you can do in the short term to survive… Last week, the Chancellor announced a bonus for any furloughed staff that businesses retain. This is the latest measure to support businesses and bonuses […]

15th July 2020

Covid-19 – Time to buy or sell?

The Covid-19 pandemic has significantly affected corporate buy and sell activity worldwide, with the first quarter of 2020 cited as being down 25% on 2019 with a further decrease thereafter. We have seen a number of companies delay or abandon deals entirely due to concerns over financial uncertainty. Despite the initial impact of Covid-19, a […]

15th July 2020

Post-lockdown divorce – why you need an expert

The Covid-19 pandemic has been a difficult time for many people, with the monotony of working from home, the anxieties and frustrations of childcare and home schooling, plus sleepless nights caused by financial worries and concerns for our friends and family who we have not been able to visit. Unfortunately, along with all these problems, […]

8th July 2020

The Chancellor’s Summer Statement – initial reaction from HW Fisher

VAT should be reduced for the hospitality sector for a minimum of two years – January isn’t enough time to create long term certainty Our restaurants, pubs, shops and hotels are struggling. This is a timely announcement from Government as businesses are in desperate need of a clear action plan. It is vital we see […]

30th June 2020

Managing a responsible recovery

2020 marked the beginning of what the UN called the decade of delivery, the 10 years where governments, institutions and individuals would work with intent in order to achieve the sustainable development goals (SDGs) the UN had set forth. Meaningful action had built momentum thanks to activists and, increasingly, investors. As we all know however, […]

25th June 2020

A step in the right direction for hospitality but more to do

Russell Nathan, senior partner at top accountancy firm HW Fisher comments on the recent hospitality news: “Our restaurants, pubs, bars and hotels are struggling. Health comes first, but the lack of a clear action plan from Government is a concern. Many in the hospitality industry will welcome today’s announcements. It’s been a long time coming […]

25th June 2020

Coronavirus Job Retention Scheme and Flexible Furlough

The Coronavirus Job Retention Scheme (CJRS) will enter its second phase on 1 July. From this date, it will be possible to “flexibly” furlough employees by allowing them to return to work on reduced working hours, but still receive support for the shortfall from their previous working pattern. With the increase in flexibility comes a […]

16th June 2020

Jason Steinberg joins HW Fisher as corporate tax partner

HW Fisher, the top 25 chartered accountancy practice, has bolstered its corporate tax division with the appointment of Jason Steinberg as partner. Originally a trainee at HW Fisher between 1993-1997, Jason returns to the firm with over 20 years experience in UK and international corporate tax, having worked for two of the Big 4 firms, […]

4th June 2020

Guidance for charities on serious incident reporting during Covid-19

The Charity Commission has provided guidance on what trustees need to consider in reporting serious incidents during and linked to the coronavirus pandemic. Having reviewed the guidance, there are several reporting scenarios that we would highlight as especially pertinent at this time, as outlined below. Charities must report if there is an outbreak of coronavirus […]

3rd June 2020

Extension of the Self-Employed Income Support Scheme grant

Along with an extension to the assistance for employers in the form of the flexible furlough scheme, the Chancellor has announced a second, if smaller, Self-Employed Income Support Scheme (SEISS) grant. Mirroring the reduction in the CJRS, the new grant will cover a further three months of profits for business owners who qualified for the […]

3rd June 2020

Phase 2 of the Coronavirus Job Retention Scheme (CJRS): A guide

After weeks of supporting businesses through lockdown, the Government is now assisting employers in easing their employees back into work as the restrictions are relaxed. With some limitations still applying, and uncertainty in the economy, the new rules allow employers to increase the time spent working, whilst still contributing towards the costs of maintaining employment […]

1st June 2020

Authors’ tax trap – incorporations that go wrong

Our Authors & Journalists team advises writers on whether they would benefit by operating through a limited company. Care is needed as there can be complications and circumstances vary from one author to another.

26th May 2020

Covid-19: Exemption for reimbursed home office equipment

It has been confirmed by the Treasury minister that organisations reimbursing staff for equipment purchased that enables them to work from home during the pandemic lockdown will not have to pay tax. We would caution however, that this exemption may not be as generous as it first appears. Generally, the rules on what an employee […]

12th May 2020

A Guide to the Coronavirus Job Retention Scheme (CJRS) [Updated]

Under the Coronavirus Job Retention Scheme, announced on 19 March 2020, the Government has put arrangements in place to provide grants to cover 80% of the salary of PAYE employees (up to a capped level) who would otherwise have been laid off during this crisis. Updates since scheme launch: On 12 May, the Chancellor announced: […]

7th May 2020

Helping our clients through Covid-19: Stories of how we have been supporting our clients secure government loans

Financial Support for the Retail Sector Client: Sole trader – designer Loan secured: £200,000 from HSBC through CBILS Approach: Through internal collaboration we were able to identify that the client was in need of financial support and it was passed through to the HWF Business Solutions team. We assisted in providing proforma documents for the […]

4th May 2020

A guide to the Coronavirus ‘bounce back’ small loan scheme

Originally announced by the Chancellor on 27 April, the Bounce Back Loan Scheme  (BBLS) opened for applications on 4th May. This microloan is to help small and medium sized businesses struggling to obtain other sources of Government backed funding. The scheme will be delivered by lenders accredited by the British Business Bank and will provide loans from […]

1st May 2020

Temporary VAT relief on PPE

HMRC has announced the temporary relief from VAT of Personal Protective Equipment (PPE). With effect from 1 May 2020, supplies of PPE will qualify to be zero-rated for VAT purposes until 31 July 2020. Previously, such supplies were subject to VAT at 20%.  This will be a boost to the NHS and also to the […]

28th April 2020

Guidance for SMEs: your key questions answered

The government has issued, and in some cases subsequently revised, measures to support SMEs during this time. Here, Simon Michaels and Jonathan Bourne answer some key questions associated with the schemes in place to help SMEs. If you have any questions or need guidance for your business, please get in touch directly. Which employers are […]

22nd April 2020

Support for self-employed individuals: your questions answered

The Government has only recently issued its help package for the self-employed during the impact of Covid-19 and many questions remain outstanding. Our Partners have answered some key questions for anyone who is self-employed and is looking for clarification on how to navigate the government guidance and what the best action to take is during […]

22nd April 2020

Guidance for charities: your key questions answered

In the current circumstances we know a lot of charities are having to change the way they operate to ensure fundraising and funding can continue through the impact of Covid-19. Our charity department answer some key questions for anyone associated with a charity, looking for clarification on what the best action is for these organisations […]

22nd April 2020

Covid-19 Support for Innovative Companies

On 20 April 2020 the Government announced a support package for innovative firms facing financing difficulties due to the coronavirus outbreak. The new package includes: An investment fund called the Future Fund which will issue convertible loans between and million to high-growth companies Grants and loans available to SMEs focusing on research and development (R&D) […]