Sadly, many business owners literally pay for poor cash flow management. Seeing Bad Debts on your Profit and Loss Account is one of the worst things our clients have to see. Effectively they have given some goods or provided a service for nothing and sometimes even at a further cost
HMRC this week announced its intention to tighten the rules around company tax avoidance. If suspected of 'borderline' tax avoidance, offending companies will be elevated to what HMRC terms 'special measures'.
One of the first decisions you need to make when starting your business is choosing the right entity. Do you set up as a sole trader, in partnership (if there is more than one of you) or a limited company?
One of the key announcements in this weeks Budget was the introduction of new dividend taxation rules, which will come into effect in April 2016. The changes are expected to generate around £6.8bn of tax over the next five years.