If your customers have complaints that are appropriately resolved, they can become better customers than those who haven’t complained. Authorise your people to fix problems without any “run around”, just as they do at Ritz Carlton Hotels. Give your people the authority to send a customer a bottle of wine, flowers or whatever is appropriate […]
There is currently a very generous 100% relief from inheritance tax for passing on businesses and farm land during lifetime and on death. The rationale for Business Property Relief (BPR) and Agricultural Property Relief (APR) is to enable businesses to be passed on without the need to sell off assets to pay the IHT due […]
More and more businesses are outsourcing various functions in order to focus on their main areas of expertise. Ask yourself these questions: What are we doing that is not one of our core proficiencies? What do we do that we don’t do well? What could we potentially outsource? As an example, many companies have outsourced […]
A recent case before the tax tribunal saw the liability for a late VAT registration penalty being passed on to a manager of the company. HMRC have the power to impose such a penalty on an individual where There is a penalty payable by the company for a deliberate failure. The individual on whom HMRC […]
If you own a residential property which you have ever lived in and ever let out a significant tax relief ends on 5 April 2020. If you sell the property before 5 April 2020 you could benefit from letting relief which can save up to £11,200 if you are the sole property owner. For two […]
Fake antivirus: Tech support scams are commonplace. The sole purpose of a fake antivirus pop-up is to encourage the downloading of software, which is designed to infect computers with malware rather than provide the protection it claims to be offering.
The Office of Tax Simplification (OTS) have undertaken a detailed review of Inheritance Tax (IHT), which is perceived by many as a complicated tax. The government normally takes account of OTS recommendations and their report is likely to lead to future changes to the rules. We will keep you posted as the changes may necessitate […]
These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 June 2019. Where there has been a change the previous rate is shown in brackets: Note that for hybrid cars, use the equivalent petrol or diesel scale charge. However, it may be more beneficial to compute the actual cost. You […]
Under new rules due to come in on 1 October 2019 builders, sub- contractors and other trades associated with the construction industry will have start using a new method of accounting for VAT. Under the new rules, supplies of standard or reduced-rated building services between VAT-registered businesses in the supply chain will not be invoiced […]
The substantial increase in the higher rate threshold to £50,000 is good news for many taxpayers. However, that same figure is the point at which child benefit starts being clawed back and there has been no increase in that threshold since the High Income Child Benefit Charge was introduced in 2013/14. The charge applies if […]