The Chancellor has announced a range of support for small businesses to help weather the storm of the Coronavirus pandemic which has left many (if not all) businesses reeling. In this post we outline the schemes and help which he has announced. Note: The information below is the best we currently have but this is […]
Read MorePlanning for business exit
More than half of small business owners hope to leave their businesses within ten years, but three-quarters of them have no plan in place, according to a recent survey. Exit plans are necessary to secure a business owner’s financial future. But many don’t think to establish one until they’re ready to leave. People don’t build […]
Read MoreChanges to Entrepreneurs’ Relief
For business owners, Entrepreneurs’ Relief (ER) is an attractive Tax relief which can be used on the disposal of a business. Owners of Limited companies, unincorporated businesses and even Trustees may be able to take advantage of ER. Any Capital Gain made on the disposal of a business may be taxed at a 10% rate of […]
Read MoreWhat you need to know about “People with Significant Control”
New rules have now been introduced as part of the UK’s implementation of the EU Fourth Anti-Money Laundering Directive aimed at tackling money laundering and the financing of terrorism, and businesses are required to help police the system by supplying information about people with significant control (PSCs). In this blog, you’ll find out who might […]
Read MoreMaking tax digital for business – a guide for partnerships
In my previous blog post on Making Tax Digital for Business (MTDfB), I looked at how this would affect the self-employed but MTDfB also applies to the self-employed who are in partnerships. This blog post will guide you through what you need to consider. Since this blog has been published, the government has listened to […]
Read MoreThe New Dividend Tax Explained
It’s all change on dividend tax rules following the 2015 Summer Budget. Read on to find out how they could affect you…
In the 2015 Summer Budget, the Chancellor announced there are going to be fundamental changes to the way dividends are taxed.
Read MoreI Want To Be A Company Director | The Pros and Cons of Incorporation
When we meet new clients who have a business idea and want to go into business on their own account we often find that the first thing they want to do is to become a company director! They have usually decided they want to have a company before they have met up with an accountant. Therefore our first meeting will often be a lengthy discussion about business structures; incorporation, sole trade or partnership.
Read MoreTax Rules on Loans From a Company to a Shareholder or Director | Finance Act 2013
The Finance Act 2013 affects the tax on loans from a company to its shareholder/directors. Some of the rules took effect on the 20th March 2013. This post gives you a bit of background to this Act and the differences that now affect Shareholders or Directors:
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