To Incorporate or not to Incorporate, that is the question?

Most businesses start out life as a partnership but may later become limited companies, usually because the business has grown significantly.  Fully incorporating the business, by transferring it to a limited company offers substantial annual tax savings.  Company corporation tax rates are 20% compared to personal income tax rates of up to 47%.  Therefore, for […]

Get set for auto enrolment

Andrew Hopper, Head of Workplace Pensions at Albert Goodman Chartered Accountants, highlights important factors for businesses to be aware of regarding auto-enrolment. The Government’s  requirement that private sector workers provide for their retirement affects all UK employers. Every employer has a duty to adopt a qualifying workplace pension scheme into which it will automatically enrol […]

The Care Act 2014 – Market Shaping and Commissioning Adult Care and Support

This is the second in our series about the Care Act and in this case is based on Chapter 5, which places substantial responsibility on Local Authorities (LA) to ensure a vibrant and responsive care provider market for the direct benefit of local people and communities. The principles which are expected to underpin this are […]

Health and Wellbeing Tax Plan

HMRC launched its campaign against health and wellbeing professionals on 7 October 2013, encouraging people such as physiotherapists, chiropractors, osteopaths, alternative medicine or therapy providers etc to come forward if they had not disclosed all income and gains.  The deadline to make a full disclosure was 6 April 2014 and a dedicated Task Force has […]

TOGC Changes

When the assets of a business (or part of a business) are transferred as a going concern (“TOGC”), and provided certain conditions are met, no supply of those assets takes place for VAT purposes.  One of the conditions is that the buyer must intend to use the assets to carry on the same kind of […]

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