Tax free company car?

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If your company provides you with a company car there is usually a VAT loss and a hefty personal tax bill. This is regardless of whether the car is bought or leased by the company. An exception is electric cars after 6 April 2020. There have been many attempts (published and witnessed by us) to […]

Company Officers jointly and severally liable for VAT penalty

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The decision in a recent tax tribunal case reminds us that directors and other company officers may be personally liable for VAT penalties of their company. The recent case involved a penalty for late registration for VAT where the threshold had been exceeded. Three conditions must be satisfied before the liability for a penalty payable […]

Government u-turn on pension tax for doctors and others?

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The government have recently announced that it would consult on allowing senior NHS staff to select their level of pension accrual at the start of the year, to give them more pension capacity to take on additional work without breaching their annual allowance. The Treasury has also agreed to reconsider the “taper”, which restricts pension […]

57 Ways to Grow Your Business: 11 – Resolve complaints

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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 […]

IHT relief for businesses and farms

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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 […]

57 Ways to Grow Your Business: 10 – Outsourcing

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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 […]

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