For many small businesses, employing the right people is essential to success. However, recent surveys suggest that rising employment costs are causing many business owners to rethink their recruitment plans.Higher National Insurance costs, increases in the National Living Wage and wider employment obligations have all added to the overall cost of taking on staff. As…
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Could new late payment reforms improve your cash flow?
Late payment has long been one of the greatest challenges facing small businesses. Many profitable businesses experience unnecessary financial pressure simply because customers take longer than agreed to settle their invoices. When cash is tied up in unpaid debts, it becomes harder to pay suppliers, invest in growth or even meet tax liabilities on time.The…
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Planning a Property Development? Tax Rules May Change
Before a property development even begins, significant costs are often incurred. Planning applications, architects' drawings, engineering reports, environmental surveys and legal advice can all generate substantial expenditure long before construction starts.HMRC has launched a consultation examining whether the current tax treatment of these pre-development costs remains appropriate and whether changes could help encourage investment.What are…
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Do you need to pay tax on money received from family?
Receiving money from a family member can be a welcome source of financial support, but many people are unsure whether they need to pay tax on it. In most cases, the person receiving a gift does not pay Income Tax on money given by family. However, the gift could have Inheritance Tax implications for the…
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