• Haggards Crowther in Africa

    Haggards Crowther in Africa

    For some time we have been a keen supporter and sponsor of Barnes Rugby Football Club, and were delighted when we recently learnt of a rugby based initiative which the club is connected with. Our association with Barnes RFC is a long one stretching back over 20 years, to when Tim Haggard played for the club. We are now a Platinum Sponsor, helping to provide ongoing support for the club and its players, as well as acting as its accountant.
    The Chairman of the Barnes RFC, Michael Whitfield, is also a Trustee of a charity called The Atlas Foundation, which ...

  • SME Tax Investigations

    For most companies the prospect of a tax inspection, however minor, will always create alarm. Yet recent reports suggest that one in ten small businesses are now facing investigation by HMRC; which equates to half a million SMEs across the UK. This is a surprising, and somewhat worrying, statistic.

    The argument for targeting small businesses in this way has come about following a total of £34 billion in unpaid tax faced by the Revenue in 2015-16. Following a report to the Treasury Select Committee, HMRC stated that small businesses contributed 46 percent of this tax ‘gap’, which has somewhat prompted ...

  • Dividend Tax Allowance Reduction in 18/19 Tax Year

    By Tim Haggard

    In 2016, then Chancellor George Osborne effectively increased the tax on dividends from UK companies, by removing the dividend tax credit, the net effect of which was a new basic rate of 7.5%, and a higher rate of 32.5%, albeit with a new tax-free allowance. At the time of introduction, the tax-free allowance was set at £5,000 and this continued until the end of March 2018. In the Finance Bill of 2017 current Chancellor Philip Hammond announced that the allowance would be reduced to £2,000 from 5th April 2018.

    Whilst the dividend tax ...

  • VCT and EIS Reforms

    By Terry Smith

    The Finance Bill which gained Royal Assent on 15th March contained changes to the reliefs available on Venture Capital Trusts (VCT) and Enterprise Investment Schemes (EIS). The focus of the changes has largely been targeted on the softer end of the risk spectrum, but there are also benefits to be had with personal investment limits raised and increased relief for certain sectors.

    The Chancellor believes that so called ‘asset backed’ or ‘downside protection schemes’ are not sufficiently high risk to justify the tax breaks investors receive. These investments offered as much of a guarantee as such schemes ...