Our nationwide research project explores how 530 privately owned UK businesses grow, the barriers to growth they encounter and where they are looking to expand. The research has been published in our Going for Growth: UK company growth strategies to 2021 report.
To download your copy, please click here.
From April 2019, businesses and landlords with turnover above the VAT threshold (£85,000) will be required to keep accounting records digitally, and file their VAT returns to HMRC through a MTD compliant digital platform.
In this video, Emma Chesson, Head of Online Services, explains what MTD is, why it needs to be taken seriously, how it may impact you and your business and what plans need to be put in place now.
With just over four months to go until Making Tax Digital (MTD) comes into force, published statistics* reveal that over 40% of businesses that will be affected by MTD for VAT are not yet aware that this will be the case. Over the course of these remaining months, HMRC will contact businesses directly about the switch to MTD, but this leaves little manoeuvrability for businesses who have so far avoided planning, to get prepared and get on board.
Read more below and also view our new MTD video here to find out what plans need to be in place...
It is common when selling your trading company that part of the total consideration will be received at a later date, in the form of an earn-out. An earn-out refers to a pricing structure whereby the sellers ‘earn’ part of the purchase price based on the business’ performance following acquisition and could be in cash, shares or loan notes. Careful tax planning is needed if you would like to maximise the proceeds benefitting from the Entrepreneurs’ Relief (ER) tax rate of 10%.
Have you ever asked yourself whether you would be resentful if a shareholder, who didn’t understand your company, tried to tell you what to do? This is exactly what could happen if a fellow shareholder died and their beneficiaries then own the shares!
Tim Levey, Partner and Head of Business Advisory, runs two groups of Business Leaders in Kent. One of the members recently posed the following question:
“We advertised for a trainee role and the best candidate was a more experienced graduate who, while still needing training in all but one area, demanded well above the trainee market salary. Is it worth paying the extra or should we say “no thanks”?"