• UAE announce Corporate Tax

    The United Arab Emirates announced on Monday, 31st January 2022, that for the first time ever they will be introducing a federal Corporate Tax on business profits. Businesses based in the UAE will now, therefore, be subject to the tax from 1st June 2023. The news represents a significant shift for a country that’s long […]

    Read More

  • Interest Rates raised to 0.25%

    Yesterday, 16th December 2021, the Bank of England raised inflation prices by 0.25%, ending a 20-month running streak of a historically low 0.1% rate. The Bank of England’s Monetary Policy Committee (MPC), which sets interest rates, voted 8-1 to increase the rate by 15 basis points to 0.25%. Rising inflation generally refers to the notion […]

    Read More

  • What should you be aware of following the Autumn Budget?

    DownloadDownload our illustration of the impact of the new tax rates for profit extraction Following the Budget announcements from last month, there have been several changes to come into effect for national insurance and dividend tax rates which could affect many tax positions from the tax year 2022/23. Dividends for 2022/23 Dividend tax increases were [...]

    Read More

  • Autumn Budget Announcement 2021

    OpenRead Animo's Autumn 2021 Budget Summary On Wednesday 27th October 2021, Chancellor Rishi Sunak presented his third Budget announcement, detailing plans to “build back better” with ambitions to level up and reduce regional inequality. A lot of the budget was focused again on rebuilding after the Pandemic, with Chancellor Rishi Sunak stating that we cannot [...]

    Read More

  • 2022 Irish Budget Statement

    On the 12th of October 2021, Ireland’s Minister for Finance, Mr Paschal Donohoe, delivered the budget statement for 2022, with a total budgetary package of €4.7 billion – including measures to promote entrepreneurship as well as supporting growth and job creation, was announced during the statement. The Minister noted that this year’s budget will look […]

    Read More

  • Furlough comes to an end

    During his Spring Budget meeting Chancellor of the Exchequer, Rishi Sunak, confirmed that the Coronavirus Job Retention Scheme (CJRS), or more commonly known as Furlough, would run until today, the 30th of September 2021. The current version of the scheme is the third iteration of the scheme which was initially launched in March 2020 after […]

    Read More

  • HMRC postpones Making-Tax-Digital for Income Tax until 2024

    On the 23rd of September 2021, HM Revenue and Customs (HMRC) announced that the Making-Tax-Digital (MTD) scheme for income tax self-assessments (ITSA) will be introduced a year later than originally planned, with the roll out now scheduled for the tax year beginning in April 2024. The postponement is planned to provide additional time for preparation […]

    Read More

  • HMRC begins compliance checks in line with new IR35 rules

    Nearly six months from the introduction of a new IR35 regime in the private sector, HMRC has started IR35 compliance checks in both the financial services and the oil and gas sectors. With effect from April 2021, the new IR35 rules apply to large and medium-sized businesses in the private sector that engage contractors. These […]

    Read More

  • Animo is looking for a new IT Infrastructure Technician

    Animo Associates, a rapidly growing Corporate Services provider, are looking to employ an enthusiastic and ambitious individual to work within our IT department.  This is an outstanding opportunity for an experienced IT Infrastructure Technician with the proven skills and knowledge to join our team. Job description: Job Title: IT Infrastructure Technician Salary: £20,000 to £25,000 […]

    Read More

  • Should my company expand internationally?

    Taking the leap and expanding internationally can be a daunting thought for many businesses, but it can also be the decision that makes or breaks your success. Expanding your international presence can bring a plethora of new and exciting opportunities to your business, but it is vital that you ensure your business is ready to […]

    Read More

  • Why should your business outsource services to Mauritius?

    Outsourcing has become an industry standard across many services, elevating the stresses on key members within organisations and ensuring that business operations across the board are compliant with industry standards. Mauritius has already established itself as a leading International Financial Centre and now it is also developing itself as a preferred destination for the outsourcing [...]

    Read More

  • Do we need a Digital Euro?

    Many are unaware that when you open up your online banking app, the number displayed is what is owed to you from the bank, but it is still legal property of the bank. Only the physical notes and coins that you withdraw from your account and hold on your person, technically belong to you and […]

    Read More

  • What do we know about the UK’s financial future following the Chancellor’s Mansion House Speech?

    Earlier last week (1st July 2021) Chancellor of the Exchequer, Rishi Sunak, gave his first speech at Mansion House, to an audience of young and aspiring leaders in Financial Services. During his speech, he outlined his roadmap to “ensuring UK financial services remain competitive now that the UK has officially left the European Union”. His […]

    Read More

  • FSC revises rules on Special Purpose Funds in Mauritius

    Over the years, Mauritius has secured its standing as a reputable International Financial Centre of Excellence and has become the new go-to hub for the setup of various Fund Structures by many international Investors, Private Equity firms, Hedge Fund, Asset and Wealth Managers. It also boasts an attractive location, making it the ideal gateway into [...]

    Read More

  • Dubai issues revised decisions on commercial ownership for foreign investors

    The Dubai Department of Economic Development (Dubai Economy) recently announced new decisions on foreign ownership, which became effective from the 1st of June 2021. The Dubai Economy issued guidelines along with their new decisions which clarify the procedures necessary for full ownership for foreign investors, ensuring compliance with the Federal Decree-Law No. (26) dictated in [...]

    Read More

  • G7 makes landmark agreement to confront tax avoidance

    Ahead of their annual summit, leaders of the world’s most wealthy and influential countries met to discuss new plans to tackle tax avoidance amongst large multinational conglomerates. During their meet World Leaders made history by signing a landmark deal designed to tackle tax and establish a minimum global corporation tax. The main goal of the [...]

    Read More

  • The EU progresses with DAC 7 proposals to share digital platform tax information

    The EU Council recently announced the adoption of new tax transparency rules for digital platforms under a directive called “DAC 7” (Directive 2021/514). Adopted on 22 March 2021 by the EU Council, the directive introduces specific reporting obligations for digital platforms. The overall aim of this Directive is to improve administrative cooperation in the field [...]

    Read More

  • Should my small business apply for the restart grant?

    In his 2021 Budget, Chancellor of the Exchequer, Rishi Sunak, vowed to do "whatever it takes" to help rebuild the economy, following the acute damage caused by COVID-19 and forge a path to economic recovery "providing support for jobs and businesses as we emerge from the pandemic". His three-part plan for economic recovery included a [...]

    Read More

  • Why does your small business need a website?

    A website is one of the best assets you can acquire – whether you are an online business or not. With the continued rise of the internet, its influence on how we live and work, and its determination to keep rising, it is more important than ever to ensure you have a professional web presence [...]

    Read More

  • What are the benefits of establishing a Global Business License entity in Mauritius?

    Compliance and substance requirements have become the backbone of many businesses worldwide. Many banks now insist on only dealing with entities which are tax resident and have reasonable substance in their jurisdiction from where they are being managed and controlled. The EU/OECD are also pursuing a similar direction with more jurisdictions abiding by the ever-increasing [...]

    Read More