Sometimes there is a choice of which tax to pay and where a person owns an investment property, they may be able to exercise a degree of choice whether they take a capital gains tax hit or their beneficiaries pay inheritance tax. However, there is something of a gamble here – while capital gains tax […]
When a company has built up enough debt that it becomes challenging to pay off all the debts. The director of a company is left with no option except the liquidation of all the assets of a company or the Creditors Voluntary Liquidation. However, the liquidation process itself is challenging in many ways. If you
What is a Creditors Voluntary Liquidation (CVL) and How Does The Process Work? Read More »
Product liability insurance can save a business from unexpected costs, legal fees and penalties. As a general life insurance or health insurance compensates the loss with financial relief, the product liability insurance provides compensation to a company when its good causes harm to the customer due to a defective good or to the property of
What is Product Liability Insurance? Read More »
First-time buyer relief may reduce the stamp duty land tax (SDLT) that a first-time buyer pays when they buy their first home in England or Northern Ireland. A similar scheme applies in Scotland for Land and Buildings Transaction Tax (LBTT), but there is no first-time buyer relief from Land Transaction Tax in Wales. This article
First-Time Buyer Relief for SDLT And Investment Property Trap Read More »
In preparation of the introduction of MTD for income tax, which comes into effect from 6 April 2024 for unincorporated businesses and landlords with trading and property income of more than £10,000 the basis period rules are being reformed. At present, once an unincorporated business is established, it is taxed on the current year basis.
Should I Change My Accounting Date? Read More »
Do you need funding for your business and you are confused between private equity and venture capital? If the answer is yes, you must continue reading this post about the difference between private equity and venture capital. The similarity between private equity and venture capital is that both kinds of investors spend their money and
What Are the Differences Between Private Equity and Venture Capital? Read More »
Unincorporated businesses and companies planning capital expenditure projects need to be aware of some time-limited reliefs. Timing capital expenditure to benefit from these reliefs can be financially beneficial. Annual Investment Allowance The annual investment allowance (AIA) is available to both unincorporated business and to companies. It provides immediate 100% relief against profits for qualifying
Plan Capital Expenditure to Benefit from Time-Limited Reliefs Read More »
Are you short of cash or working capital as your customers have many due invoices? If this is the case, you can consider selling all those due invoices to a lender to receive some cash for making your working capital flow smooth and efficient. But the question is what is invoice discounting? Invoice discounting is
What is Invoice Discounting? Is it the Right Finance Facility for my Business? Read More »
The corporation tax rules are changing from 1 April 2023, and the amount that a company will pay will depend on the level of its profits, and also whether or not it has any associated companies. Briefly, from 1 April 2023, companies with profits below the lower limit will pay corporation tax at the small
Corporation Tax – Are You ‘Associated’? Read More »
The High-Income Child Benefit Charge (HICBC) is a tax charge that claws back payments of child benefits where the recipient or the recipient’s partner has an income of at least £50,000 per year. Where both the recipient and their partner have an income of this level, the charge is levied on the one with the
High Income Child Benefit Charge – Not Just for Higher Rate Taxpayers Read More »
