Each year, thousands of self-employed people fail to file their tax returns with HM Revenue & Customs (HMRC) on time. Follow these six practical steps to avoid filing a late return and suffering penalties as a consequence.
Almost half of British small business owners hope to pass on their business to their children but 45% fail to plan for the tax implications when they retire. Research found that 63% of SME owners aim to pass their business on to a family member when they retire, with 48% intending to hand the business down to their children. But although people are looking at succession planning there are many that aren’t looking at the
The Government is increasing the number of tax incentives associated with employee share schemes in a bid to boost the number of John Lewis-style, employee-owned businesses in the UK. The independent Nuttall Review in 2012 concluded that companies operating in this model are more resilient during economic downturns, have a faster job creation rate and higher levels of commitment from staff. We look at some of the existing options available and two potential new reliefs