Business

Financial planning is undoubtedly the bedrock of successful wealth management, serving as the critical first step in a lifelong journey of financial growth and security. The process begins with a thorough evaluation of your current financial situation, a crucial stage that involves a detailed analysis of your assets, liabilities, income and expenditures. This comprehensive review…

A statutory audit may sound alarming, but it’s a vital process that helps ensure a company’s financial health and compliance. Whether you’re a small business owner or part of a large corporation, understanding what to expect from a statutory audit can ease any concerns and prepare you for a smooth experience. Understanding the purpose of…

What you need to know before taking on the responsibility Deciding to become an employer is a significant milestone for any business. It marks a phase of growth and the need for additional support. In this guide, we will explain what becoming an employer entails, the steps required, the key considerations, and the changes that…

Capital gains tax explained Capital gains tax (CGT) is the tax on the profit you make when you sell or ‘dispose of’ an asset that has increased in value during your ownership. It is important to note that the tax is levied only on the gain made from the sale, not the total sale price.…

Essential knowledge for accurate market assessments Understanding your business’s value is more than a number on a balance sheet – it’s a crucial indicator of your company’s health and future potential. Whether considering a sale, seeking investment or planning strategic moves, a precise valuation provides robust information. With this spotlight, we aim to guide you…

Why file early? If you’re self-employed, a landlord, earn over £100k or are filing for international matters, you have to file a Self Assessment tax return by 31 January following the tax year that ends on 5 April. It’s all well and good leaving this until the last minute, but there are a few reasons…

GDPR rules are in full swing, with its largest fine ever – of $887 million – handed out to Amazon last summer. The US giant was financially penalised for not having the proper consent from users to use their personal data. Since May 2018, EU businesses – small and large – have been obliged to…

If you operate your business through a personal or family company and extract profits in the form of dividends, it is prudent to review your dividend policy to determine whether it would be beneficial to pay a further dividend before the end of the 2022/23 tax year on 5 April 2023. It should be remembered,…

Making Tax Digital for Income Tax Self-Assessment becomes law on 6 April 2024 and aims to make tax accounting easier for businesses and individuals such as sole traders by legislating the digitalisation of tax data and submission. I currently submit tax returns online with HMRC – will I need to do more? Yes, if you…

If you run your own limited company, there are two ways you can pay into a pension fund, both of which offer significant tax advantages. You can opt to make personal contributions or make them through the business in the form of company pension contributions. In this article, we look at the two options, including…