Fear of failure, a thing of the past?

‘What have you got to offer our company?’ ‘Well I have been involved in a couple of failed businesses.’ Perhaps not the kind of conversation you would expect in a management recruiting interview, but research shows almost a quarter of companies actively seek managers who have experienced business failure and recovered. The thinking is that[…]

Reducing CGT exposure

Couples with sizeable assets such as property or shares might consider joint ownership where the asset is likely to result in a capital gain. This way they can take advantage of both personal allowances, currently, £10,100 per person, and realise up to £20,200 of gains before capital gains tax (CGT) becomes payable. Remember also that[…]

Posted in Tax

New cap for tax relief on pensions

The amount that people can add to their pension funds on which they can receive tax relief is to be reduced, the Treasury has confirmed. The annual limit is to come down from £255,000 to £50,000. Also to be reduced is the lifetime allowance on money that can be saved in a pension fund for[…]

Considering a strategic partnership?

Data from Companies House reveals that strategic business partnerships are on the rise. In fact, there has been a 50 percent increase since 2008. Certainly arrangements such as joint ventures and strategic alliances can deliver a number of advantages including: Increased capacity Access to new markets, especially overseas A wider distribution network Access to additional[…]

Don’t be caught out by the VAT rate switch

As the increase in the VAT rate approaches, businesses need to be mindful of charging the correct amount of VAT where invoices are raised or payments received around the date of the increase – January 4, 2010. Please check with us if you are not sure. Applying the wrong VAT rate at this time, or[…]

Posted in VAT

All change on VAT again

There is now barely a month remaining before the standard rate of VAT climbs from 17.5 per cent to 20 per cent. The increase means that any sales of standard-rated goods or services made on or after 4 January 2011 must carry a VAT charge of 20 per cent. The increase only covers standard-rated goods[…]

Taxpayers under attack (again)

The recent announcement by the Government that the Treasury is to target a further 10,000 high net worth individuals for tax investigation represents another stage in the seemingly relentless assault on UK taxpayers. It is estimated that once these measures are in place an astonishing half of all 50 per cent taxpayers could find themselves[…]

Posted in Tax

We’re backing small businesses, says Coalition

After all the cuts, now comes the Government’s drive to help stimulate business growth. There are going to be a minimum of 500,000 job losses in the public sector, so the Government is banking on private firms to pick up the slack. It has duly published a document, entitled Backing Small Business, which details its[…]