Latest News

Partnership vs company: Choosing the right structure for your farming business

Whether you decide to operate your farm business as a partnership or company will depend on many factors, but the 2025 Budget has introduced further changes, meaning it’s worth reviewing your current structure and taking family succession plans into account.

Capital Gains Tax and Inheritance Tax on agricultural land and farms

Selling or transferring agricultural land and farms can have significant tax implications, particularly concerning Capital Gains Tax (CGT) and Inheritance Tax (IHT). Following increased CGT rates and major IHT reforms announced in the 2024 Autumn Budget, and a further amendment in the 2025 Autum Budget, it is important to consider the current rates and the implication of future increases.

File your tax return ahead of the self-assessment deadline

It is never too early to complete your self-assessment tax return. In fact, as soon as the tax year ends you can submit your tax return. One thing you should avoid is leaving it to the last minute.

LATEST UPDATE: Compulsory ID Checks for People with Significant Control

Along with the changes in the requirements for identification of company directors, from 18th November 2025, People with Significant Control (PSCs) must also verify their identity. The period in which you need to do this, depends on your own situation.

Why business succession planning and asset diversification matter more than ever

Running a family business comes with a unique blend of opportunities and challenges; balancing legacy with innovation, and personal values with commercial goals. Yet, one area that often gets overlooked amid the day-to-day demands is long-term financial planning.

The Law Society issues Practice Note on residual client balances 

The Law Society has published a practice note setting out the requirements and practical guidance for dealing with residual client balances. Here are the steps law firms can take to ensure compliance. 

Staff Christmas parties and employee Christmas gifts

It’s almost the season to celebrate and give to those we value. From a business perspective, what are the best ways to reward staff at this time of year?

New guidance on law firm obligations to protect client money should a bank collapse  

Earlier this year, The Law Society published a Practice Note on protection for client accounts. This is relevant for all solicitors who deal with client funds.  

Key VAT considerations for expanding farming businesses

Compulsory ID checks for UK company directors and PSCs: What you need to know

A major change is on the way for how documents are filed at Companies House, as directors and People with Significant Control (PSCs) will be required to provide personal identification.