Category Archives: Business Owners Advice

It’s easy to get distracted in business, so how can you avoid distractions AND get your business to run on auto pilot?

One thing all business owners have in common, large or small, is the need to produce a business plan, so why is it that they don’t? Without a plan, it’s easy to get distracted and fail to meet your business …

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Directors’ powers and financial liabilities

Being a director has its rewards and its responsibilities. Whether you are appointed to the board of the company you work for or from establishing a new business yourself, taking on the role of director gives you a sense of …

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Ring a Ding-Dong – Telephone scams ring wrong numbers for business owners and private organisations?

Channel 4 reported some months ago that international fraudsters are targeting UK businesses with a highly lucrative telephone hacking scam. This criminal enterprise, run by overseas hackers, uses widely available sophisticated software to infiltrate an organisation’s phone exchange. The software …

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Tax Avoidance with an ethical twist!

A UK Income Tax Saving Scheme that could revitalise the amount of PAYE you pay to HMRC and also revitalise some building projects… There is an under used tax relief scheme with HMRC blessing that can provide high rate tax …

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Pensions – Timing is everything

My previous blog prompted a number of comments from business owners who are interested in using their pension funds more creatively and creating wealth independent of their business. I trust that this blog will answer these queries. When does the …

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Creative Pension Planning – How can one mitigate investment losses and boost retirement using creative planning

We’re living in extraordinary times: the value of investments in all four main asset groups – equities, bonds, property and cash – have all dropped simultaneously. This was not supposed to happen. It has, so economists need to re-evaluate their …

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Is Comedian Jimmy Carr having a laugh with tax avoidance scheme K2?

HMRC has confirmed that the K2 scheme is under investigation and has vowed to “challenge it in every way available to them,” stating that the “Government does not intend anyone, no matter who they are, to get away with paying …

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Bankboozled – Government hits the panic button!

The government has announced two schemes to provide finance for businesses; the monies are to be provided directly to the banks who must lend this onto business owners in the form of cheap loans or finance. The government states that …

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Company tax avoidance, including pensions, ebt’s, e-furbs and approved share schemes

The government has over the recent years reduced the amount of contributions that high earners can pay into their pension schemes. Currently there is a cap of £ 50,000 for pension contributions (unless past years missed contributions are rolled forward). …

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New HMRC crackdown on PAYE tax avoidance and IR35, HMRC PAYE tools can be of benefit but HMRC PAYE helpline is inundated with requests for assistance.

New HMRC plans to increase PAYE and NIC by taxation of “controlling persons” On the 23rd May HMRC published a consultation ‘The Taxation of Controlling Persons’. This is a proposal by the Government to ensure that PAYE and NIC is …

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Tax avoidance in the sun?

Over the years HMRC have targeted their efforts on particular trades and professions in an attempt to counter tax evasion. More recently however they have begun to target the wealthy. Following a very successful campaign on offshore banking, HMRC are now planning to counter tax evasion and under-declaration arising from the ownership of overseas property.

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EIS income tax carry back relief

Five reasons why 20% income tax relief may be preferable to 30% Enterprise Investment Scheme (EIS) investors can take advantage of ‘carry back’ which allows the cost of shares to be treated as though they had been acquired in the previous tax year, enabling investors to benefit from income tax relief in the preceding year. But with EIS income tax relief increased to 30% for the 2011/12 tax year why would anyone want to carry back to 2010/11 when only 20% income tax relief was available?

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