Below is a summary of George Osborne’s latest budget, billed by the chancellor as “a budget for people who aspire to work hard and get on". He describes it as a budget for people who realise there are no easy answers and says we have cut the deficit by a third, not a...
What is it? Crowdfunding is a relatively recent concept used to raise funds for a business or project. The process has developed as an alternative to more traditional methods such as bank loans or angel investment where a sole person would fund an idea. With...
Today the Chancellor addressed the House of Commons and the televised audience with his forthcoming plans. December is widely accepted as the season for good will so George Osborne had a tough job to deliver the Autumn statement. Fiscal Target The Chancellor was...
Background Previously UK employers were not required to contribute to their employees’ pension schemes, however this is set to change with new laws which started to come into force from October 2012. As an employer, even if you employ just one person, you will...
Around this time of year there can be many business events such as Christmas parties and trips for employees as well clients. Many employers have trouble distinguishing between allowable expenses and disallowable expenses in terms of tax so I have put together this...
IR35 was a piece of legislation brought in by HMRC 12 years ago in an attempt to tackle tax and National Insurance avoidance schemes through the use of intermediaries such as partnerships or companies. HMRC’s view was that a large number of IT Consultants,...
Enterprise Management Incentive (EMI) share options have been around for over a decade, allowing small higher risk businesses retain employees and grow the business by offering an equity stake in the company. How do they work? If the employer were to simply give their...
Keeping good financial records is of vital importance to a business of any size, not just from an accounting point of view but also from a management and business running perspective. As well as being used to assess tax liabilities, accurate financial records can be...
From the 7th January 2013 The Government will introduce the new High income child benefit tax charge (HICBC). The Government’s plans will means test child benefit, taking it away from tax payers earning over £60K and tapering it where income lies between...
On 13th July 2012, the Bank of England and HM Treasury launched the Funding for Lending Scheme (FLS) to boost the incentive for banks and building societies to lend to UK households and non-financial companies, thus to spur economic growth. Why is FLS being launched?...