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Insights

Audit and Consolidation Implications for UK subsidiaries of EU companies following Brexit

Prior to the UK leaving the European Union (EU), there were three ways in which UK incorporated companies that are subsidiaries of European Economic Area (EEA) parent companies could be exempt from having a statutory audit in the UK.

April 15, 2021

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Furnished Holiday Let clampdown

Second home owners can save tax if their second property is available for holiday lets. This savings comes in the form of tax relief but also because the owners can pay business rates rather than council tax if the property is made available to let for at least 140 days a year.

April 6, 2021

Budget 2021 – The full report

The Chancellor Rishi Sunak presented his second Budget on Wednesday 3 March 2021. In his speech he set out a three-part plan in order to recover, kick start and rebuild the UK’s economy.

March 4, 2021

Budget 2021 Investment-led recovery

Rishi Sunak opened his UK Budget announcement today with the facts that although are not unfamiliar to us, are still a harsh reality. The UK has suffered the largest shrink in the economy in 300 years and the Government has borrowed at levels not seen since wartime.

March 3, 2021

How do I plan for succession?

A single business owner can limit the value of the business where the knowledge of suppliers, internal procedures and clients sits solely with them. As a consequence, the value of the business may only be worth the liquidated value of the tangible assets.

February 23, 2021

Where do I get business advice from?

You should have a group of advisers to seek counsel from outside of the company whether this is a formal arrangement with your accountant or a group of peers who you can share ideas and bring a diversified experience to the table.

February 19, 2021

Do I need an audit and what does it consist of?

A statutory audit is required when a UK Limited company or a Limited Liability Partnership (LLP) meets certain criteria. Auditors report to the company’s shareholders (or members) on whether the annual accounts show a ‘true and fair view’ of the company’s financial activity and position.

February 17, 2021

How do I start international trade?

Many owner-managed businesses investigate overseas trade when they can’t increase sales in their home market. Whether you are trading online or through in-country sales teams, there will be different tax legislation requirements

February 15, 2021

Will my business assets be subject to Inheritance Tax?

Assets in a private company are subject to Inheritance Tax but Business Relief can reduce this

February 12, 2021

What if the internal functions of the business cannot cope with the levels of growth?

What if the internal functions of the business cannot cope with the levels of growth or you need to scale up or down? You can outsource as many or as few back-office functions as you wish. The benefits of this are not only financial

February 9, 2021

What our clients say

  • I have been a client of Shaw Gibbs since the 1960's and have always found a professional but friendly response from the partners or staff

    I have been a client of Shaw Gibbs since the 1960's and have always found a professional but friendly response from the partners or staff

    Richard Preston

  • Thank you for being such a great partner in building our business!

    Thank you for being such a great partner in building our business!

    Oege de Moor - CEO, Semmle

  • Experience, expertise and support was not only invaluable from a financing perspective, but also in assisting us to determine the future strategy.

    Experience, expertise and support was not only invaluable from a financing perspective, but also in assisting us to determine the future strategy.

    Charles Parry – John Parry Estates Ltd

  • Shaw Gibbs’ service provides timely expertise at a reasonable cost

    Shaw Gibbs’ service provides timely expertise at a reasonable cost

    OATS Limited
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