Corporate tax planning and why it is important to your business
Corporate tax can be a minefield of changing regulations, with new rules each tax year. Getting the right corporate tax planning advice can make a huge difference to your profits and the growth of your company.
Why you should hold investment activity outside of a trading company
Reviewing your business structure and splitting off parts of your business to hold investment activity and assets outside of a trading company can help to minimise risk, prepare for sale and support business growth.
If you hold assets in your own name, these assets may be subject to Inheritance Tax (IHT) on death as well as profits earned during your lifetime being charged to income tax at rates of up to 45% if you are an additional rate tax payer. A family investment company (FIC) could be used for […]
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 […]
New measures affecting pension allowances announced in the March Budget could mean your retirement planning strategy needs to be reviewed.
Undertaking a business reorganisation can be used to split off parts of your business and can help to minimise risk, prepare for sale and create efficiencies.
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 […]
If your employer pays for the fuel in your company cars, it may cost you more than you expected.As the Autumn Statement was not a Budget, detailed publications that would normally emerge as the Chancellor sat down have taken time to appear. For example, the HMRC projections of how many more capital gains tax (CGT) […]
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 […]
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 […]
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 […]
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 […]
