Umar Memon
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Contractor vs. permanent staff – the pros and cons
The number of temporary agency contractors has risen sharply in recent years, with over a quarter of a million contractors now working in the UK; the majority of whom work in the private sector. Businesses may stand to gain from… Read more Contractor vs. permanent staff – the pros and cons
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Company Car Taxation
“Everything in life is somewhere else, and you get there in a car.” E. B. White Company cars remain an important tool in rewarding, attracting and retaining staff. It therefore comes as no surprise that the Government views the provision… Read more Company Car Taxation
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A Guide To Tendering For Contracts
When a business bids for a job, usually you will draw up a quotation or an estimate and the contract will be negotiated on that basis. But for large jobs, extended periods of supply, and most public sector contracts, a… Read more A Guide To Tendering For Contracts
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Inheritance tax planning and donating to charity
Currently, HMRC taxes any assets or estates passed on through inheritance at 40 per cent once they reach the inheritance tax threshold of £325,000. It is planned that this threshold will remain in place until 2014/15. However, there are various… Read more Inheritance tax planning and donating to charity
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Increased ISA allowances
New allowances for Individual Savings Accounts (ISAs) – which offer tax-free returns on investments – have now come into force. For the 2012/13 tax year, the total amount that can be invested into an ISA has increased to £11,280 (previously… Read more Increased ISA allowances
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The tax year and choosing your accounting date
Whatever business model you are in, you must prepare annual accounts which report on business performance and activities during the financial year. What many may be unaware of, is that businesses are allowed a free choice of when to end… Read more The tax year and choosing your accounting date
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Mobile record-keeping
New mobile apps designed to help small businesses keep tab on their record keeping accounts, have been launched by various software companies and are now available on smartphones such as Android, iPhones and Windows phones. The free apps are aimed… Read more Mobile record-keeping
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Auto-enrolment and employee earning thresholds
Starting from October this year, and depending on the size of your business, employers will have to automatically enrol all eligible workers into a qualifying pension scheme. The Government has now confirmed that automatic enrolment rates for the next tax… Read more Auto-enrolment and employee earning thresholds
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You don’t have a Will? –Don’t die intestate
Intestacy is the consequence of dying without a Will. Various surveys indicate that about two-thirds of adults fail to make a Will. Even those who do may still be caught by the rules of intestacy. A Will may prove to… Read more You don’t have a Will? –Don’t die intestate
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Saving with a Tax Advantage
The past few years have seen households focus on reducing household debt and increase their savings. Tax advantaged saving still provides a valuable boost to the saving regime and so in this update we look at some of the opportunities… Read more Saving with a Tax Advantage