Beavis Morgan LLP

The latest on delinked payments and the 2024 Sustainable Farming Incentive agreements is here. With 98% of eligible farmers already receiving their first instalment and new opportunities for sustainable practices now live, it's a pivotal time for farming. Discover how these updates impact you and how Beavis Morgan can support your agricultural journey here: https://lnkd.in/eaH857xx #Agriculture #SustainableFarming #FarmingSupport #BeavisMoregan

NHS doctors face a pay rise 'tax trap' Some NHS doctors may reduce their hours after the pay rise pushes them into a 60% tax bracket, affecting their take-home pay and childcare benefits. This could impact efforts to reduce NHS waiting times. Learn more about how these tax implications by reading more here: https://lnkd.in/eERurhnA #HealthcareNews #TaxPlanning #NHS #BeavisMorgan

HMRC targets senior professionals in latest crackdown HMRC is stepping up its scrutiny of senior professionals, including lawyers, accountants, and architects, in its latest enforcement drive on employment classification within limited liability partnerships (LLPs). This renewed focus aims to clarify whether senior partners should be taxed as employees rather than self-employed, a move that could significantly impact both individuals and their firms with potential hefty tax bills. This reinterpretation of the Salaried Member Rules may result in an increase in tax enquiries and compliance activities, posing challenges for those affected. As HMRC intensifies efforts to tighten tax compliance, it's crucial for firms and senior professionals to ensure they are on solid ground with their tax status and prepared for possible inspections. At Beavis Morgan, we understand the complexities this new enforcement could present. Our team is ready to provide strategic advice and support to navigate these changes effectively. If you're concerned about how these developments might affect you or your business, please reach out. Our experts are here to help you review your position and manage any potential risks associated with this latest HMRC focus. For further assistance, please contact your usual Beavis Morgan partner or email info@beavismorgan.com. https://lnkd.in/d6d6469x #HMRC #TaxCompliance #SelfEmployed #TaxCrackdown #SalariedMemberRules #TaxAdvice #LegalAdvice #Accountancy #BusinessSupport #BeavisMorgan

Key Tax Updates for Non-UK Domiciled Individuals Major changes are coming! From April 2025, the remittance basis of taxation will be replaced, and significant modifications to Capital Gains and Inheritance Tax are on the horizon. Learn how these updates could impact your tax planning and what steps you should take now to prepare here: https://lnkd.in/eU9eMMaX #TaxUpdate #UKTax #FinanceNews #BeavisMorgan

HMRC Adjusts Interest Rates Following Bank of England Cut Following the Bank of England's recent decision to lower the base rate to 5%, HM Revenue & Customs (HMRC) has announced corresponding reductions in their interest rates. These changes affect both the interest charged on late tax payments and the interest paid on tax repayments. HMRC’s interest rates are directly linked to the Bank of England’s base rate. The rate for late payments will now be the base rate plus 2.5%, and the repayment interest rate will be the base rate minus 1%, with a minimum threshold of 0.5%. The new rates came into effect on: - 12 August 2024 for quarterly instalment payments - 20 August 2024 for non-quarterly instalment payments If you are facing difficulties in making timely tax payments or have concerns regarding your tax obligations, please contact us. Our team at Beavis Morgan, together with our partner business Moorfields Advisory, is equipped to assist you in arranging suitable payment plans with HMRC to ensure compliance and financial stability. Please contact your usual Beavis Morgan partner or email info@beavismorgan.com. Further details on the revised interest rates can be found here: https://lnkd.in/eQDCus2w #HMRC #TaxAdvice #InterestRates #BankOfEngland #FinancialPlanning #TaxCompliance #UKBusiness #TaxPayments #FinancialSupport #BeavisMorgan

As we approach the upcoming Budget announcement on 30 October, Prime Minister Sir Keir Starmer has prepped the nation for what he describes as a "painful" budget, emphasising the necessity for short-term sacrifices to achieve long-term benefits. "With promises that there will be no increases in national insurance, VAT, or income tax rates, speculation rises on where the adjustments might occur. Potential areas for tax increases could include extending the freeze on income tax thresholds, raising capital gains tax rates, modifying pension tax reliefs to a flat rate, or adjusting inheritance tax rates and reliefs," says Neal Groves, tax expert at Beavis Morgan. With the Budget announcement pending, those planning asset disposals are advised to stay informed. If you are contemplating asset sales and are concerned about potential tax implications, Beavis Morgan is here to provide guidance based on the current tax regulations. For detailed advice, please contact your usual Beavis Morgan partner or email info@beavismorgan.com. https://lnkd.in/erMhzrYZ #CapitalGainsTax #UKTaxUpdates #UKBudget #TaxPlanning #FinancialAdvice #BeavisMorgan

Ollie Jackson, sponsored by Beavis Morgan is racing this weekend at Donnington Park and we can't wait to see him in action! Let's cheer on Ollie as he takes on the track and represents Beavis Morgan with speed and style. 📸 Dan Bathie -Beavis Morgan -Alcon -Corbeau -Rockfort -Salt -Porchester Estates -Team JTR #PorscheCarreraCupGB #OllieJacksonRacing #BeavisMorgan #MotorRacing #Motorsport #Sponsorship

Simplify Your Payroll Management! Missing deadlines can lead to hefty penalties and stress you don't need. Discover how this simple step can save you time, improve cash flow, and ensure you never miss a payment again! To learn how BM Connect can help you stay compliant and focused on growing your business, read our article: https://lnkd.in/eq_vRBrG #Payroll #BusinessTips #BMConnect #PAYE

Major Changes Coming to Furnished Holiday Lettings If you own or manage a Furnished Holiday Letting (FHL), significant tax changes are on the horizon that could impact your business! From April 2025, new rules will reduce the tax reliefs that have made FHLs so attractive. This could shake up the property market in popular holiday destinations, potentially leading to more properties available to locals. Learn more about how these changes might affect you and your investments: https://lnkd.in/eDj9Ye9w #PropertyInvesting #TaxChanges #HolidayLettings #BeavisMorgan

The Beavis Morgan Group is proud to sponsor the Thurrock Women's Rugby Club—The T-Birds! We're thrilled to support our very own Gabi Diana from our HR team and Beth Townsend from BM Connect, who play for this incredible team. The T-Birds have an impressive track record, quickly rising to the Premiership and making their mark as one of the strongest teams in women's rugby. With a commitment to community and development, we're excited to back their journey to even greater success. Join us in cheering them on! Read more about our partnership: https://lnkd.in/e3CrQ_Bv #Rugby #WomenInSports #CommunitySupport #GoTBirds #BeavisMorgan