Salaried members of LLPs
The salaried members rules are an anti-avoidance measure designed to prevent limited liability partnerships (LLPs) from disguising remuneration paid to members as profit share instead of employment income. If the rules are triggered, the member’s earnings are...
Cash basis by default
From 6 April 2024 the cash basis has replaced accruals as the default method for preparing sole trader and partnership accounts for tax purposes. Previously, only unincorporated businesses with total receipts below £150,000 were entitled to opt out of accruals and...
Why Farm Partnerships are vital for Farm Businesses
Farming partnership agreements. Having clear documentation that defines the conditions of the partnership is vital to protect all parties.
Whitley Stimpson host Autumn Budget 2021 webinar
Join Whitley Stimpson the day after the Autumn Budget 2021 for a webinar to help you make sense of it all.
Experts welcome Government delay to digital tax reforms
A delay to tax reforms which would have seen sole traders and small businesses obliged to keep digital records and report income quarterly to HMRC has been welcomed by financial experts.