Author Archive:
Paul Beare
Could an interest rate reduction reduce government expenditure?
Read more: Could an interest rate reduction reduce government expenditure?A 1% reduction in the Bank Rate would reduce the UK government’s annual interest charges on the national debt, but the exact amount of the reduction depends on the proportion of the debt that is sensitive to changes in short-term interest rates. According to the Office for Budget Responsibility, a 1% decrease in short-term interest…
Banking on reform
Read more: Banking on reformDebanking, or the sudden closure of bank accounts, has become a big concern for UK businesses. This issue gained attention when Nigel Farage’s account was closed by Coutts Bank, allegedly due to his political views. Many small businesses face similar problems, with accounts being shut down or services being refused for unclear reasons. Banks claim…
Don’t forget to report property gains
Read more: Don’t forget to report property gainsA higher rate of CGT applies to gains on the disposal of residential property (apart from a principal private residence). In the Spring Budget 2024, the Chancellor announced a reduction in the higher rate that exists for residential property to 24% (from 28%) from 6 April 2024. These rates apply to higher rate taxpayers as…
Paul Beare On Becoming Member of the Year, Relationships & Growth
Read more: Paul Beare On Becoming Member of the Year, Relationships & GrowthWe had the pleasure of sitting down with 2023 IR Global Member of the Year, Paul Beare of Paul Beare Limited, during our time in Boston. In our conversation, Paul shared insights on: – His 12-year journey with IR Global and the significance of his membership – The crucial role of active participation in building…
Late night taxi for an employee
Read more: Late night taxi for an employeeThere is no specific requirement for employers to provide employees with transport home. Nevertheless, an employer has a duty of care to their employees, which means that they should take all steps which are reasonably possible to ensure their health, safety and wellbeing. Ensuring that an employee gets safely home during unsocial working hours could…
Is your income over £100,000?
Read more: Is your income over £100,000?If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt that takes your income over £100,000 will result in a reduction in personal tax allowances that would reduce the allowance to…
Moving Up – The Complexity of Global Mobility
Read more: Moving Up – The Complexity of Global MobilityThis article was originally posted on London Daily News. Digital Partner Paul Beare, an expert in assisting international businesses with UK setups, explains the intricate and evolving rules around work mobility in the UK. Post-Brexit, immigration has become a significant political issue, which has led to frequent changes in regulations to align with public opinion. Despite the…
Using the starter PAYE checklist
Read more: Using the starter PAYE checklistEmployers that take on a new employee need to work out which tax code and starter declaration to use in their payroll software. Incorrect tax codes can lead to a new employee paying more tax than is due. Employers will require certain information from their new employee in order to ensure that the correct tax code…
The Visionaries – Moving up
Read more: The Visionaries – Moving upGlobal mobility rules have become more complex in recent years, particularly in the UK. But with the right advice, you can ensure you stay within the guidelines. The rules and regulations surrounding work mobility in the UK can – to the untrained eye – appear byzantine. They are also subject to change: since the UK…
Cross-border Referrals & Mentoring
Read more: Cross-border Referrals & MentoringIn this episode of the Expertise Unlocked Podcast, host Jennifer Riggins is joined by Digital Partner and Member of The Year Paul Beare. The conversation starts with the pair highlighting how the network is a melting pot for meaningful connections as well as a hub for relationship building and cross-border referrals. Noting, members are achieving…
A reminder to protect your business capital
Read more: A reminder to protect your business capitalThe beginning of a new year is an opportune time to undertake basic business planning. One aspect that needs continuous management is to protect your business capital. The downturn in global trade continues to be affected by the war in Ukraine, the situation in the Middle East and now the disruption to movement of goods…
Bed and breakfast share sales
Read more: Bed and breakfast share salesThe term bed and breakfasting (sale and repurchase) of shares refers to transactions where shares are sold and bought back the next morning. This used to have Capital Gains Tax (CGT) benefits by crystallising a gain or a loss but is no longer tax effective over such a short period. The change to the rule happened in 1998…