Are your business assets at risk?

Do you hold your core assets, including property or cash reserves in your trading company or on one single balance sheet? If you do, your business will be open to a degree of commercial risk. Reorganising your business by creating a group structure enables you to ring fence assets in a holding company which protects them from […]

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New VAT penalties and interest payments

A new points-based penalties regime will impact businesses who submit their VAT returns or pay their VAT late. The first monthly returns and payments affected by the penalties were those due by 7 March 2023. The new late payment penalties and points-based late submission penalties were introduced from 1 January 2023, replacing the VAT default surcharge, and apply to accounting periods […]

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Profit withdrawal changes for 2023/24

Owner-managers have historically benefited by withdrawing profits by way of dividends, rather than taking director’s remuneration, due to the national insurance contribution (NIC) saving. However, tax changes taking effect from April 2023 will mean this approach may no longer be such an attractive option. From 1 April 2023, the current 19% rate of corporation tax […]

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Tackling rising employment costs

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 cost of living crisis is impacting many businesses, especially those in the hospitality sector. Some will cope with rising employment […]

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Associated company rules changing the 1st April

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 changing at the same time, don’t be caught off guard. From 1 April 2023, there will be two rates of corporation tax: Where profits are between £50,000 and £250,000, marginal […]

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Employee retention strategies to retain top talent

With today’s highly competitive recruitment market, creating a comprehensive employee retention strategy is becoming more important to companies in all sectors. An employee retention strategy will help your company to reduce employee turnover, ensure an engaged workforce and attract and retain top talent. A clear strategy will consist of programmes and policies that improve employee […]

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