accountant / 14 posts found
Adaptability is the key to success
Every day we meet people whose small businesses are struggling; either the business is stalled or heading towards closure. I see the same facial expressions frustration, fear and inner turmoil. And I hear the same words – I don’t know what to do! Time and again we resist the temptation to wish that they had come to us earlier. But often it was beyond their control. If you see your accountant once a year and your business has been slowly sliding downhill over that year, you are in a very vulnerable situation. If you work with your accountant throughout the [...]
Cash is king
If the present wrangling over the terms of our exit from the EU result in terms that disadvantage UK businesses, what can we do now to protect our hard-earned business assets? It is difficult to make this call as negotiations could drift in either direction: a continuing trade agreement or a so-called “hard-Brexit”. No-one can say what trading conditions will be like from April 2019, but it is likely that perception will rule the roost. If uncertainty continues to cloud the debate, and there is no sign of resolution on the political front, opportunists, those brave, and some [...]
Selling the garden shed?
When you are selling your home, you are likely to be selling a range of fixtures and fittings. For example: • White goods, washing machines, fridges, cookers etc, • Furniture, • Carpets, • Curtains, • Garden equipment, • Leisure or fitness equipment, jacuzzi etc, • And the garden shed. If identified in the sale contract, any value attributed to these personal assets, or chattels, will not attract a stamp duty charge for your purchaser. Accordingly, if you are selling at a value that just tips your property into the next band for stamp duty purposes, being able to allocate part [...]
Football agent scores massive own goal
HMRC were quick to publicise their victory in a recent tax case that resulted in a well-known football agent facing a £1.2m tax bill. According to their press release, former football agent Jerome Anderson lost his £1.2 million tax battle with HMRC during a case heard at the Upper Tribunal. This showed that Anderson and eight others failed in their attempt to avoid large amounts of tax. The scheme involved investments in the recruitment and training of young footballers at the Bafana Soccer Academy in South Africa. Anderson attempted to use this investment to claim a £3 million artificial [...]