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‘A sailor without a destination cannot hope for a favourable wind’

‘A sailor without a destination cannot hope for a favourable wind’

Let’s be honest, 2015 was a quieter year than expected but the economic indicators say that things will improve for 2016. So what should you be doing now to get your business ready for next year? The most profitable businesses we act for all have one thing in common – they plan ahead. They have […]

Are YOU at risk of a HMRC tax investigation?

HMRC are coming

Anyone who submits a tax return faces a real threat Every year, HMRC investigates hundreds of thousands of individuals and businesses in the UK. It has the powers to do this at random, at any time, and everyone is at risk. Even if you have done nothing wrong, you are still at risk of an […]

HMRC’s New Fishing Letters

HMRC’s New Fishing Letters

HMRC has a new way to identify businesses it thinks are underdeclaring profit. It’s sending letters to those concerned. HMRC Studies. Back in the 1980s HMRC drew up reports on various business sectors which identified profit ratios, mark-ups, etc. Called Business Economic Notes (BENs), these gave tax inspectors insight into the businesses they were investigating. […]

Salary, dividend or pension contribution?

Salary, dividend or pension contribution?

When you work for your own company you can decide how much salary to pay yourself, how much to pay into your pension fund, and what proportion of the remaining profits to take as a dividend. The split is important as it will affect the tax and national insurance payable by you and your company. […]