December Newsletter

Our December Newsletter includes information about the upcoming temporary rise in Annual Investment Allowance, a reduction in Business Rates for small retail businesses, the IR35 reforms set to cost contractors more in tax and the national insurance rise for higher rate earners.

Read moreDecember Newsletter

Deregistering for VAT

Deregistering for VAT When and how to begin the process of deregistration.

These days VAT thresholds are the subject of much speculation, with the Government concerned that many business owners deliberately choose to stay below the VAT-registration threshold.

Limiting your ambition in this way might seem counter-intuitive – surely you want your business to get as big as possible?

But it can make sense if you are seeking to make a sustainable living rather than get rich, perhaps by trading on online auction sites, or running a café with limited opening hours.

If your business’s turnover is predicted to fall below £83,000 over the next year, it can voluntarily deregister for VAT.

Read moreDeregistering for VAT

Starting a business – what you need to know before launching a startup.

Starting a businessBritain is a nation of fearless business entrepreneurs, but the likes of Richard Branson and James Dyson didn’t go from rags to riches instantly.

Branson needed a £300 loan to get his magazine up and running after dropping out of school at the age of 16. Dyson produced 5,167 prototypes before inventing his vacuumless dust-buster.

In fact, Government statistics revealed that more than half of businesses founded in 2011 had folded within five years, so the lesson here is to think before you decide.

If you have a bright idea and have spotted a gap in the market, you’ll need to test, prepare and assess the risks and opportunities to give your new business the best chance of survival.

Read moreStarting a business – what you need to know before launching a startup.

Extracting profit from a business

What are the tax implications of drawing profit from your company?

People run businesses for a variety of reasons from passion to pride, but making a living is high up the list for most people.

How do you go about drawing profit from your business, and doing so efficiently?

Read moreExtracting profit from a business

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