Recent reports suggest that the payday loan industry could soon get a big overhaul. As we know that the industry is full of lenders who lend short term loans and charge hefty interest rates just to keep borrowers falling deeper into an endless cycle of vicious debt.
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.
Following the EU referendum result accountants have confirmed that once the separation process is complete, UK businesses will no longer have to comply with the EU VAT regime.
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.
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.
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.
Lars Ola Petters, CEO of leading purchase-to-pay provider Palette, discusses the problem of maverick spending and how organisations can gain control over purchasing
In 2013 I decided to apply for The Apprentice. Why? Because I was unsatisfied with both my role and the business practices of my then employer. In short, I wanted to start my own business, but with no idea about how or where to secure funding I jumped at the opportunity of battling it out to win a partnership with Lord Sugar and that all important £250,000 investment.