Structuring a Business

Yesterday, Chancellor Jeremy Hunt presented his second Autumn Statement, but with a very different tone to the gloomy announcements made this time last year. The Chancellor announced initiatives with a massive focus on pushing growth in the economy. The main question you’ll all no doubt have is… “how does it affect me?”, let’s take a look…

With demand for rental property being at an all time high we explore considerations if you are thinking of getting into property investment and how to ensure you are compliant from the offset of your journey as a property investor.

In this blog, we cover the different tax aspects of purchasing a company vehicle and the potential implications if you get it wrong!

Updates for October 2023 including: The importance of accurate forecasting and utilising cloud accounting software. Associated companies and quarterly corporation tax payments. The upcoming budget report and rumours surrounding IHT.

Updates for September 2023 including: Tax Free childcare, the effect of high earnings on child benefit entitlement, Merger of R&D Tax schemes, Income tax on Inherited Pension Funds, HMRC requiring more information from tax payers and advisory fuel rates for company cars from 1st September 2023.

VAT can often be a pitfall for start ups or small businesses. We identify the top 5 most common mistakes when it comes to VAT and what you can to do avoid them.

What's the difference between a hybrid car and a tax efficient hybrid car? Turns out much more than you think! We explore identifying the most tax efficient hybrid cars for your next company car.

How late is too late when it comes to starting a business? Many people believe age is a limiting factor when it comes to entrepreneurship, we examine how it can be used as an asset and identify some real life success stories.

Have you been put off the idea of taking a holiday or a longer sabbatical due to the demands of your business? In our latest article Mark Friend reflects on his recent sabbatical. Mark highlights the benefits of taking a break from your business and how important this is to business owners to drive growth and future success.

Protection insurance is key to protecting your future. Are you aware of the options available to you and are you certain there are no loopholes of gaps in your cover? We explore the differences between Life Cover, Critical illness cover and income protection and the benefits of seeking guidance from an independent financial advisor can help you to ensure you have sufficient cover.

Our June 2023 Newsletter with tax updates including Employment Related Securities, HMRC Interest rate rising and company car fuel rates.

As a property investor, ensuring you have your property tax affairs structured in the most tax efficient way is vital. Ill-thought-out structuring and negligent planning can be very costly down the line. We recognise that everyone has unique situations and goals when it comes to their property affairs, so we’ve decided to take a 360 all-inclusive approach to tax planning to help you realise your goals.

Group structures are not just for large companies, they can be used very effectively for smaller owner managed businesses to save tax and de-risk their assets.

With a range of changes in the world of tax coming into effect from April 2023, discover two simple ways to reduce your corporation tax burden and save your company money!

Keep reading to find out what Chancellor Jeremy Hunt’s “Back to Work” Budget means for you. Is 2023 a year of opportunity?

Frustrated with your business growth? Knowing what needs to be done and getting it done are two very different things. If you are an ambitious business owner striving for success find out how we can help you to build your business.

Many businesses are unsuccessful because the owners do not spend time creating a business plan and monitoring their progress. We give some tips that could help your business succeed.

The death or terminal illness of a shareholder can be a greatly distressing time. Find out how you can ensure protection is in place for both your business and loved ones when tragedy strikes.

Selling, renting or leasing a commercial property or land can be a tricky subject when it comes to VAT. We take a look at what you can do when it comes to land and property and how the option to tax can affect this.

I’ll start this with the same thoughts that many of us all had back in early 2020, a vision of the world going just a little bit crazier every day. For me it initially evoked an emotion of fear, of the anxiety of the unknown and what might happen, the day-to-day monitoring of numbers of infections, the responsibility to keep a team safe, the tenuous and treacherous emotional reliance I placed on the preparation of our government to guide us through the virus and the emerging clarity that came with half-baked solutions and a gaping chasm of guidance that came from the ‘solutions’ offered.

The pandemic has had a dramatic effect on all our lives over the last two years. Businesses have had to adapt quickly to a changing environment. One area that may have been overlooked is the need to review your health and safety compliance.

As a small business owner for almost 30 years I have first hand experience of falling into what is probably the biggest trap for growing a business- taking on anything and everything! It was very much a scatter gun approach with the hope of catching something. Anything in fact! As long as they paid!!!

Over 80% of business owners run businesses which provides them with a level of earnings which in honesty they could get or exceed if they were employed. Of the remainder the majority are earning good profits but still working long hours and invariably feel trapped in their businesses. Only a few business owners have created what I would call the dream business.

It is often the case that those who have creative flair possess no interest in more mundane things like figures. Unfortunately for those people, especially if and when they become successful, they need to pay tax on their profits and so they either require some understanding of accounting and tax matters or be prepared to pay someone else to deal with it for them.

There are many potential pitfalls for the unwary property developer and key amongst them is tax. We have outlined 10 of the most common tax pitfalls or missed opportunities we have come across.

The trials and tribulations of the last year or so have been never ending for many business owners. The stop start due to COVID restrictions, increased cost of COVID compliance, homeworking, restricted working, continual rule changes, loss of staff due to illness and self-isolation, the re-evaluation of people’s lives, the impact on the bottom line...

Business relationships usually begin with lots of enthusiasm and passion but soon hit the reality of life. There will be highs and lows in business, the business leaders will have differing visions of where they wish the business to go, different work ethics, differing family constraints and much more. It doesn’t necessarily matter whether your business is a great success or a failure we are all different and sometimes we have to go our different ways. The key however is to have a plan in case the worse happens.

Going into business is an exciting experience; doing so with a business partner even more so, but what happens when things go wrong? Would you have any protection in place to secure your future and that of the business?

Automation can prove beneficial for businesses, but what’s involved and where do you start?

Looking to give shares away in your company to secure an investor, business partner or lock in an employee? Beware the pitfalls. In this blog we look at why company owners are prepared to sell or giveaway shares in their companies. We look at the problems, the tax issues, some of the solutions and recommendations we would make to ensure that if you do sale or give away part of your company that you secure your financial position.

Being your own boss is risky at the best of times. If anything unexpected happened would your family be protected?

It’s fair to say that business relationships usually begin with enthusiasm and passion, grow through balance and communication and endure the highs and lows of life. Sometimes, however, businesses don’t weather the storm and things come to an end. Do you have a plan?

Most of us are familiar with the term “first mover advantage” but sometimes the “fast follower” is the winner.

Unfortunately failures in construction are common place. In 2018 Carillion went down owing £7bn, bringing down countless other businesses. Sometimes it is impossible to avoid the collapse of a business.But there's actions you can take to reduce the risk

We're often asked whether to purchase a buy to let property personally or via a limited company. Read our detailed advice to help you understand the up-and down-sides of each option. Everyone’s circumstances are different; the pros and cons must be weighed up on a case by case basis.

Every successful businesses has a special formula; they’re obsessed with innovation - it's in their DNA. There are several great tax breaks for companies that innovate.

Good corporate governance is as crucial for SME’s as it is for large listed companies. Corporate governance refers to a set of internal policies, rules, and procedures that a company follows on a regular basis to make sure it operates in a fair, equitable, and appropriate manner.

Every business needs a marketing machine to help drive the growth. But you need to build the marketing action plan to help you. Here is our 7 step Guide to Building Your Marketing Machine

As a company director are you looking to build a strong working relationship with a trusted advisor who will help you save tax and grow your business. If you are then why not speak to us about 5 easy tax wins which we can implement with you.