Welcome to the new tax year

As COVID–19 continues its grim march across the globe, the statistics make sober reading. Last week, confirmed virus cases exceeded one million worldwide as the pandemic took hold in the United States …  Continue reading

Small businesses with no business plan

Small businesses with no business plan Did you know that over a quarter (26%) of the UK’s small businesses face financial difficulties by failing to follow a structured business plan and subsequently putting their financial survival in serious jeopardy? Research carried out by the Centre for Economics & Business Research (CEBR) concluded that by neglecting to set out a […]  Continue reading

When £5,000 of dividends are not tax free?

When £5,000 of dividends are not tax free? The legislation that followed detailed that this is not an allowance (such as the personal allowance). It was actually a zero rate of taxation that would be applied to the first £5,000 of dividends received by an individual. Whilst that may seem to be a technicality, it […]  Continue reading

Companies investing in Life Assurance Bonds – Inheritance Tax (IHT) Business relief

Companies investing in Life Assurance Bonds – Inheritance Tax (IHT) Business relief Business relief, or Business Property Relief (BPR) as is it often called, gives a substantial relief from tax. It reduces the value transferred by either 100% or 50% depending on circumstances. The legislation, Inheritance Tax Act 1984 (IHTA), is ‘designed’ to give relief […]  Continue reading

Pension Planning for business owners – Best way to extract profits

Pension Planning for business owners  Business owners are having to rethink the best way to extract profits from their company and pensions are most definitely in their thoughts. Changes to how dividends will be taxed from April could see a reduction in the spendable income they currently receive. A pension contribution could be the best […]  Continue reading

Dividend changes – what it means for investors

Next year will see major reforms to dividend taxation.  There will be both winners and losers when the £5,000 annual dividend allowance is introduced next April. Higher rate taxpayers could be better off by up to £1,250 a year (£1,530 for additional rate taxpayers) but some basic rate taxpayer could be worse off by as […]  Continue reading

How to choose your Perfect Office or Business Premises

How to choose your Perfect Office or Business Premises We take a look at what businesses should consider when weighing up options for acquiring new premises. Finding your new business premises is a lot like designing the packaging for your first product, or pressing that fitted suit to meet your first client. There’s no denying […]  Continue reading

My Business is my Pension

My Business is my Pension – The Business Opportunity There are 1.5m small businesses in the UK, according to the Federation of Small Businesses (2014). This case study brings these together and highlights financial planning opportunities. The Issue: A Mr Sinclair (age 57) owns and operates a software development business. The business generated £300,000 of […]  Continue reading

Business owners and pension flexibility

Business owners and pension flexibility Business owners looking to extract surplus profits from their business will be looking forward to April’s new pension income flexibility. Not only will pension funding remain the most tax efficient way to extract profits, but those funds will also become far more accessible than ever before. Allowable contributions have the […]  Continue reading

Commercial Mortgages

Commercial Mortgages Putting your money in bricks and mortar has long been championed as one of the soundest investments around and with a combination of lower commercial property prices and interest rates, the same could be true for a growing number of SMEs. What are the Pros and Cons of Commercial Mortgages? Those looking for a place to […]  Continue reading