Clifford Towers

Chartered Accountants

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Planning for business exit

2nd October 2019 by Simon Towers Leave a Comment

Doors symbolising business exit strategy

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 […]

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Filed Under: Shareholders and Directors

Changes to Entrepreneurs’ Relief

11th March 2019 by Simon Towers Leave a Comment

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 […]

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Filed Under: Shareholders and Directors, Tax Advice and Tax Calculations Tagged With: Entrepreneurs Relief, Taxes

What you need to know about “People with Significant Control”

3rd October 2017 by Simon Towers Leave a Comment

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 […]

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Filed Under: Shareholders and Directors, Start-up Information Tagged With: People with significant control, Shareholding

Making tax digital for business – a guide for partnerships

31st May 2017 by Simon Towers Leave a Comment

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 […]

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Filed Under: Accounts Preparation, Shareholders and Directors Tagged With: Making Tax Digital

The New Dividend Tax Explained

21st September 2015 by Simon Towers Leave a Comment

How will the new Dividend Tax rules affect you

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.

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Filed Under: Shareholders and Directors, Tax Advice and Tax Calculations Tagged With: Dividend Tax, Summer Budget 2015

I Want To Be A Company Director | The Pros and Cons of Incorporation

15th December 2014 by Simon Towers Leave a Comment

Dying to be a director? | Clifford Towers

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.

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Filed Under: Self-Employed, Shareholders and Directors, Small Business, Start-up Information

Tax Rules on Loans From a Company to a Shareholder or Director | Finance Act 2013

28th October 2013 by Simon Towers Leave a Comment

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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Filed Under: Shareholders and Directors, Tax Advice and Tax Calculations Tagged With: director loans, Finance Act 2013, S455 tax, shareholder loands

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Clifford Towers is the trading name of Clifford Towers (Accountants) Limited, a company incorporated in Cardiff, Registration number 4516535, Registered office : Clifford Towers, Unit 14A, Davy Court, Castle Mound Way, Rugby, CV23 0UZ. Director : S G C Towers FCA
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Registered to carry on audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Details of our audit registration can be viewed at www.auditregister.org.ukunder reference number C001011625.