According to the Financial Times “Britain is still the favoured tax regime of business…”. Recent surveys have added a note of caution. Apparently, a growing number of organisations are concerned about the UK’s hardening attitude to tax avoidance. In an interesting twist in the mooted changes to international tax issues, UK resident businesses could be […]
Tips for Being a Better Manager
No matter how big or small a business is, good managers will always make a business better. What traits make a highly effective manager? Experience being a given, here are a few points to consider: Decisiveness Effective managers are known to make decisions quickly and are slow to change those decisions. This is often seen […]
Know Your Competitors
Businesses need to know their competition, especially in today’s hyper-competitive business environment. Knowing what the competition is up to allows you to develop unique selling points (USPs) which will encourage buyers to purchase from you. People In order to understand the customer experience offered by your competitors, try “mystery shopping” your nearest direct competitors. Things […]
Hosting a Great Seminar
Hosting a seminar is a great way to reach out to new customers and give existing customers a little bit of “value added”. However, putting on a good event isn’t always as easy as it looks. It takes a lot of preparation, coordination and attention to detail to pull off a successful seminar. Audience You […]
Property taxes…
Since 2003 our Government has collected more than £45bn in stamp duty receipts from British householders buying homes across the UK. The figures disguise a massive increase in the impact of stamp duty land tax (SDLT) over this period as the volume of property purchases and sales has actually fallen by 45%. Ten years ago […]
The Employer’s £2,000 NIC Allowance
This valuable allowance is due to start for all businesses on 6 April 2014, and simply exempts the employer from the normal employer NICs of 13.8% of the earnings paid. The mechanics are that the allowance will be obtained via standard payroll software and HMRC’s RTI system. A facility will be added to the RTI […]
Transferable Tax Allowance for Married Couples
From 2015/16, married couples and civil partners can transfer up to £1,000 of their personal allowance to their partner, but only if neither individual pays tax at the 40% rate. It is therefore a modest tax break, worth a maximum of £200 each tax year, but every little helps (as we are often reminded)! The […]
Tax changes ahead for partnerships?
HMRC are considering changes to the tax rules for partnerships. Changes arising will be included in legislation that will be effective from 6 April 2014. HMRC’s formal consultation closed 9 August 2013 and consideration is now being applied to the following issues: Disguising employment relationships through Limited Liability Partnerships, and Certain arrangements involving allocation of […]
National Minimum Wage
Many businesses are unaware that the National Minimum Wage (NMW) rules are monitored by HMRC. There are consequences if you fail to pay employees NMW rates. Currently, the rates set 1st October 2013 apply. They are: 21 and over – £6.31 per hour 18 to 20 – £5.03 per hour Under 18 – £3.72 per […]