Despite the emotional aspect of discussing end-of-life financial planning, difficult conversations around inheritances and estate planning are critical for families to discuss in order to make better-informed decisions. According to Time investments, as part of a recent survey, the majority of Britons aged 55 and over have no idea what their inheritance tax bill will […]
With an ever-growing list of tax obligations for business owners to be aware of, an agile compliance approach is integral for operational resilience and growth. The consequences of getting your tax compliance wrong can cause a range of challenges for a business, from cash flow issues to lasting reputational damage. Avoiding this growing area of […]
If you’re considering expanding your business through acquisition, or considering a management buy-in or management buy-out, good due diligence is an assurance that your venture is mitigating the risks and is essential. What is due diligence? The Oxford Dictionary defines it as “a comprehensive appraisal of a business undertaken by a prospective buyer, especially to […]
Offering employees equity-based incentives has become commonplace, but many employers are unaware how to report these complex transactions to HMRC. What are employment related securities? Reporting of employment related securities (ERS) applies to all types of share award. It is the duty of the employer to ensure an ERS tax return is filed. The following […]
A key aspect to a business project’s success or for your business to see growth is raising the right type of capital. Whether you’re looking to fund acquisitions, facilitate a restructure or access short-term working capital, identifying the right source of funding for your business is crucial. Equity, debt or mezzanine? There are mainly three […]
Amidst a rising demand for holiday lets as the UK prepares for a ‘staycation’ boom this summer, the Treasury have announced that they intend to crack down on taxpayers incorrectly claiming their properties qualify as Furnished Holiday Lets. Furnished Holiday Lets are exempt from paying council tax and instead pay business rates, as well as […]
Alongside organic success, strategic acquisitions can be a great way to accelerate business growth. Why acquire? Strategic reasons to acquire another business may include: • bringing in much needed resource, capacity or market share • address gaps in a business by portfolio diversification • reinforce a competitive position in an existing market or; • […]
Profit and turnover levels are often the two most prominent factors business owners consider. However, the significance of cash should not be underestimated. Increased cashflow scrutiny is often afforded in more challenging times, but can be equally important in supporting future growth plans. Challenging times Cashflow problems are typically one of the first signs a […]
A succession plan is a key aspect of any business strategy and requires some considerable thought. Here’s 3 tips to consider for your business: 1. Plan for succession now, not later It is never too early in the life-cycle of your business to have a succession plan in place. In an ideal world you will […]
Increasing regulation complexity brings with it an enhanced risk for business owners paying themselves ‘illegal’ dividends. With many directors of owner-managed businesses paying a portion of their income as dividends, there is a material risk of directors becoming personally liable for company liabilities. Amidst the backdrop of the pandemic, and an upsurge in companies becoming […]
