Blog

Stay up-to-date with our latest news, insights & thought leadership pieces

09 Sep 2020

Daniel Sopher Listed in 2020 Top Tax & Trust Advisers

Congratulations to our Senior Partner Daniel Sopher, who has once again been included in the Top Recommended Tax & Trust Advisers in the Spear's Magazine Indices.

27 Aug 2020

Individual Taxpayer Identification Numbers Set to Expire

The IRS has called for the early renewal of ITINs to avoid tax refund delays. On 31 December this year, over one million ITINs are going to expire.

05 Aug 2020

US Tax - How Biden's proposed tax plan could affect Individuals and Businesses

The 2020 US presidential election is just a few months away and while the main focus of the campaigns has been on how to deal with the pandemic, social justice and the economy, one place where individuals and businesses in the UK with US interests should at least consider is what may happen with taxes.  

03 Jul 2020

Building financial stability beyond COVID-19

As a “new normal” starts to emerge, individuals and businesses have made it through the period of uncertainty but as government support comes to an end there are many factors that should now be considering. We are progressing into the 2020/21 tax year at speed and there are some key changes that have been overshadowed by the pandemic that we would like to highlight. 

01 Jul 2020

Gifting

Whilst the lock-down and reduction in business activity caused by the Coronavirus outbreak has had a negative effect of the value of many assets, such as property, shareholdings and other assets, this does give rise to a potential opportunity to gift these assets to loved ones  at a far lower market value than previously. his could benefit you in two ways – 

29 Jun 2020

Pension Tax Relief 20/21

Now we are progressing into the 2020/21 tax year at speed, we should revisit the changes to pension tax relief that may have been overshadowed by recent events. Pension tax relief was the subject of much debate before the Budget and action was taken to address the issue of the Annual Allowance (AA) charges frequently incurred by senior NHS staff.

11 Jun 2020

Changes to the Coronavirus Job Retention Scheme and Preparing for Redundancies webinar

Following announcements of changes to and the winding down of the Coronavirus Job Retention Scheme, a lot of businesses will be looking to the future and how they can restructure their business to ensure its survival.

02 Jun 2020

Sopher + Co Coronavirus FAQs

As the Government continue to announce further measures to assist businesses and individuals affected by the ongoing Covid-19 pandemic we have set out below some of the more frequently asked questions (FAQs) that clients have asked about the newly announced support for business which will hopefully give you an insight into what help is available to you, as things currently stand.

05 May 2020

Coronavirus - Working from home costs

There is a little known, but long standing, relief claim that can be made if you are required to work from home.  HMRC recognise that in such cases there can be increased costs such as heating and electricity for your work area and will approve without the need for receipts a claim at the rate of £6 per week/£26 per month (from April 2020;  for the previous tax year the rate is £4 per week/£18 per month)  to cover these additional costs. 

21 Apr 2020

Sopher + Co presents... the lockdown webinar series

Following last week’s announcements by the UK Government to extend the current lockdown, Sopher + Co would like to present our upcoming lockdown webinar schedule. As business advisors we recognise that in the midst of this uncertainty our primary role is to assist our clients to navigate through this pandemic. Therefore, the programme covers not only topical Coronavirus issues around Government Support measures but a range of areas affecting our clients. 

08 Apr 2020

Film & TV Charity - Covid 19 Emergency Relief Fund

In response to the Coronavirus pandemic, The Film and TV Charity COVID-19 Emergency Relief Fund has been created in partnership with the BFI. This emergency relief, will provide one-off grants from £500 to £2,500 to active workers in film, TV and cinema facing significant financial hardship as a result of the Covid-19 crisis.

25 Mar 2020

Will Coronavirus affect my residence status?

Travel restrictions and quarantine for those showing symptoms of COVID-19 may result in individuals 'over-staying' in the UK. HMRC will consider the circumstances of each individual case. However, they have issued guidelines that the below circumstances are considered as exceptional. 

18 Mar 2020

Coronavirus Business Interruption Loan Scheme (CBILS)

The Coronavirus Business Interruption Loan Scheme (CBILS) was announced at the recent Budget and is intended to work similarly to the Enterprise Finance Guarantee (EFG) Scheme, although it will offer far more attractive terms to both businesses and lenders, with a view to ensuring the availability of finance to businesses during the current pandemic.

18 Mar 2020

COVID-19 and your taxes - Do you need time to pay ?

HMRC have set up a dedicated “Time to Pay” service for businesses and self-employed people who may have VAT/ PAYE obligations and self-assessment payments during the Coronavirus threat.

18 Mar 2020

Coronavirus - How Employers and Employees will be affected 

Find out more about Working from Home, Self Isolation & Statutory Sick Pay (SSP), Staff departures/ redundancies.

18 Mar 2020

IR35 Changes - How will it affect you?

With the delayed launch date of 6 April 2021 (originally due to be 6 April 2020), the new off-payroll IR35 rules which are without doubt the biggest change to IR35 rules since its inception.

17 Mar 2020

Coronavirus Update

A message from Daniel Sopher

02 Mar 2020

End of year tax planning 2019/20

As another tax year comes to a close, it provides the perfect opportunity to review your finances and maximise any applicable reliefs.

28 Feb 2020

Capital Gains and Rental Review Tax Changes

The taxation of UK residential property has changed over recent years as successive Governments have made it clear that they wish to take advantage of its increasing value.

28 Feb 2020

The High Income Child Benefit Charge

There has been a significant increase in the number of HMRC enquiries opened in relation to the High Income Child Benefit Charge (HICBC).

22 Jan 2020

New Guidelines issued by HMRC on the tax treatment for Film & TV freelancers

In December 2019, HMRC published new guidance notes on the tax treatment of freelancers working in Film & TV.

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