Femi O. Ogunshakin – Solicitor & Tax Advisor

Femi O. Ogunshakin – Solicitor & Tax Advisor

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Femi O. Ogunshakin – Solicitor & Tax Advisor

Femi O. Ogunshakin – Solicitor & Tax Advisor

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Making Tax Digital delayed once more

January 27, 2023Making Tax Digital, MTD, TaxLeave a commentadmin

With the self-employed and landlords facing a challenging economic environment, the government has again delayed the introduction of the Making Tax Digital (MTD) scheme for income tax self-assessment (ITSA) – this time by two years…

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Associated company rules changing 1 April

January 20, 2023UncategorizedLeave a commentadmin

Small company owners should by now be aware of the corporation tax changes taking effect from 1 April 2023, but with the associated company rules being introduced at the same time, don’t be caught off…

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High Income Child Benefit Charge: penalties and defaults

January 12, 2023High Income Child Benefit Charge, self-assessmentLeave a commentadmin

New data reveals that penalties issued by HMRC for not paying the High-Income Child Benefit Charge (HICBC), or paying the incorrect amount, have fallen significantly. However, the number of individuals still in default is estimated…

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Cohabitation law reforms rejected

December 29, 2022Income Tax, Inheritance TaxLeave a commentadmin

The government has rejected proposals to modernise cohabitation laws in England and Wales, leaving it up to individuals to arrange their financial affairs for partners and dependents. In August, the House of Commons Women and…

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Tackling rising employment costs

December 19, 2022Budget, Employment Tax, Income Tax, National Insurance Contributions, PAYELeave a commentadmin

The 9.7% uplift to the National Living Wage from April 2023 should be welcome news for lower-paid workers, but could present problems if their employer simply cannot afford the increased cost of employing them. The…

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Business rates revaluation in 2023

December 13, 2022Business RatesLeave a commentadmin

From 1 April 2023, business rates in England and Wales will be updated to reflect changes in property values since the last revaluation in 2017. Although many businesses will see increased bills, others will see…

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The effects of fiscal drag on your tax position

December 10, 2022High Income Child Benefit Charge, Income Tax, Inheritance Tax, self-assessmentLeave a commentadmin

Fiscal drag is the stealthy way in which governments pull more and more taxpayers into higher tax brackets without the backlash that comes with increased tax rates. This is something taxpayers can probably live with…

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Meandering thoughts on Capital gains chop in Autumn Statement

December 10, 2022Capital Gains Tax, MTD, self-assessmentLeave a commentadmin

It should have come as no real surprise that the Chancellor took the axe to relief on capital gains tax (CGT) in the government’s Autumn Statement. The changes are expected to raise some £1.6 billion…

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Dissecting inflation: what a difference a year makes

December 6, 2022UncategorizedLeave a commentadmin

Annual CPI inflation hit 10.1% in September, but that does not mean every price is showing a double-digit increase. The September Consumer Prices Index (CPI) inflation reading is probably the most important inflation metric in…

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The marshmallow paradox – VAT or no VAT?

November 29, 2022Marshmallow, Tax, VATLeave a commentadmin

The biggest marshmallows are in fact VAT free. The intricacies of VAT continue to delight or inflame, with marshmallows the latest food product to come under the spotlight. The outcome of a recent First-Tier Tribunal…

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Recent Posts

  • Making Tax Digital delayed once more
  • Associated company rules changing 1 April
  • High Income Child Benefit Charge: penalties and defaults
  • Cohabitation law reforms rejected
  • Tackling rising employment costs

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    This website is designed as a marketing tool for the advertisement of the services of Femi O. Ogunshakin, a director of Loftus Stowe Ltd, a company registered in England, a company (no. 7552548). Registered office: Bold Business Centre, Bold Lane, St Helens, Merseyside, WA9 4TX. VAT no. 113 8203 52. Femi Ogunshakin is a solicitor and is regulated by the Solicitors Regulation Authority (SRA) who may consider Loftus Stowe Ltd to be a 'Separate Business' for the purposes of Chapters 11 and 12 of the Solicitors Code of Conduct 2011. Neither Fęmi Ogunshakin (SRA no. 197062) nor Loftus Stowe Ltd provide legal advice or make representations that its services are those provided by bodies recognised by the SRA to provide legal services under the provisions of the Solicitors Act 1974, the Legal Services Act 2007 and the Solicitors Code of Conduct 2011. Loftus Stowe Ltd is a consultant practice of Nexa Law Limited, a company authorised and regulated by the SRA under licence number 633024. Privacy Policy
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