WSM Blog

The Higher Rate

The SDLT premium rate has been with us since 1 April 2016. It is in effect a tax on second homes, but there are some exemptions and also some unintended consequences to consider.


MTD – An Update

In a rush to pass legislation before the election break the Finance Bill was trimmed to remove the more controversial sections. MTD was one of the sections removed and there is no automatic method of this being included in the next Finance Bill.


Paper Forms and On Line Exclusions

Every year there are a number of circumstances in which a taxpayer’s SA tax return will not be accepted by HMRC’s systems as valid, and so it must be submitted in paper form.

Landmark High Court Decision on the effect of disclaimer in Bankruptcy

I have been acting as Trustee in Bankruptcy in a case which has now proceeded to an important reported High Court decision concerning the operation of the disclaimer provisions in insolvency legislation in the case of jointly owned leasehold property.

Meeting People is old fashioned

The most significant change creditors will notice is that meeting convenors (whether directors or insolvency practitioners) are specifically barred from calling physical meetings, unless creditors demand one, or the Court rules they must call one.

May Triggers Article 50 – So What?

There have been so many column inches, numerous news updates and so much political chatter about the momentous event but when it came to it, it was something of a let down.


Restriction of tax relief for interest and other finance costs

In the Budget of July 2015, the chancellor announced the restriction for tax relief and other finance costs

Are Losses Now Good News?

Originally announced in Budget 2016, the Government has confirmed the changes it is making to the way companies can benefit from the use of losses brought forward from an earlier period. There are two reforms that are coming into force with effect from 1 April 2017

Blog, News

MVL Season

March is traditionally the month of the year when the number of members’ voluntary liquidations (MVLs) is at its highest. The procedure results in returns to shareholders being made, either as surplus cash or as other assets owned by the company.


State Pension lump sum – Tax saving Opportunity?

If you are entitled to your state pension, you may have decided to defer the receipt of the pension. Similarly, if you are approaching state pension age, you may consider deferring the pension. Why would you want to defer?