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Furnished holiday lets (FHLs) have long been a popular investment, offering owners the opportunity to generate income through short-term rentals while also offering tax advantages, particularly in relation to Inheritance Tax (IHT). However, recent legal decisions and upcoming legislative changes have significantly altered the landscape, making it essential for property owners and prospective investors to […]

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Whilst football clubs are getting a lot of bad publicity of late due to having claimed UK R&D tax credits, this could perhaps be seen to be all clickbait by the media and some “white knights” on LinkedIn. The reality is the DSIT (formerly BEIS) guidelines, which define what qualifies for R&D, do not discriminate […]

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We have highlighted some of the key changes from the budget and how they are expected to impact local businesses. Employer National Insurance Contributions and Minimum Wage Increases Employer National Insurance Contributions (NICs) are set to increase from 13.8% to 15% on 6th April. At the same time, the threshold at which employers start paying […]

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On the back of two recent defeats by HMRC in the First Tier Tribunal,  last week HMRC issued new guidance in relation to the meaning of “subcontracted R&D” under the SME scheme. The new (February 2025) guidance suggests a number of factors to be considered in determining whether R&D has been subcontracted to a company, and […]

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On 31 October 2024, the INSPIRED team, like most other tax advisory teams, were digesting the Autumn Budget and pulling together our thoughts to share on website and socials. A head-line for one of our pieces was “A budget for robots”. The title was admittedly tongue-and-cheek, but the core observation behind it was that some […]

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1.How did you get started in tax, and what made you choose this field? I began my studies at Ulster University’s Magee campus, where I initially pursued a degree in Accounting with Marketing. During my time there, I had an incredible lecturer whose enthusiasm for accountancy sparked my interest, and I really enjoyed the tax […]

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How does it feel to be in the All-Ireland Final with your club for the first time? It’s an incredible feeling. The club is where you start and finish playing football—it’s the heart of the community. Seeing the joy it brings to the volunteers, the kids, and everyone involved makes it even more special. It’s […]

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A flexible and tax-efficient structure for succession planning is now more important than ever, enabling you to retain control while passing value to the next generation. New Tax Issues for Succession Planning Passing on family wealth and business to the next generation is a cornerstone of many family legacies. But with ever-changing tax rules and […]

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Whilst many R&D claimants and advisors were pleased to see no further upheaval of UK R&D relief in the recent autumn budget, there are many key changes coming into effect to be aware of. The changes apply to a company’s first accounting period starting on or after 1 April 2024. However, as approximately 40% of […]

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