Over the past two decades, the face of trading has changed quite drastically. With Forex brokers readily available and accessible online, amateurs from around the world are able to trade with the best of them. It does not have to be a full time occupation to make you a good income.
There are sophisticated reasons for the failure of every business, but it ultimately (with some rare and notable exceptions) boils down to one thing: running out of money.
In order to pre-empt the changes to the taxation treatment of winding up a company that were introduced in the 2016 Finance Bill, Q1 2016 saw a spike in the number of entrepreneurs voluntarily liquidating their businesses with the intention of later setting up a similar company.
Turn on the news and you’re likely to hear a story about Brexit or the volatility of global markets.
David Brookes, tax partner at accountancy and business advisory firm BDO LLP, looks at the tax implications that leaving the EU has on UK businesses.
If a business is seeking funding – perhaps, for example, it’s appropriate for new or existing management to acquire the business, or perhaps some existing shareholder(s) want to exit – private equity funding should be considered.
Accessing the benefits of Entrepreneur’s Relief remains the simplest and most effective “exit” tax strategy for a business being prepared for sale by its owners.
The UK is known for being a hub of innovation, yet thousands of companies are missing out on R&D tax credits. Do you know what they are? Would you like the opportunity to claim £40,000 from HMRC?
Previous articles in this series have focused on measures to create and “lock-in” the value of a business in the course of the sale process: through incentivising the team, pre-transaction due diligence and planning, tax aware structuring of the deal and negotiation of the “earn-out”. In this article consideration now turns to protecting the value realised on the eventual sale.
Since 2008, mis-selling claims against banks and independent financial providers have been stacking up in unprecedented numbers and many IFAs are having to make changes to their business – and to their own protection provisions.