In most cases, for higher-rate taxpayers, buying properties through a limited company does make sense. it offers full tax relief on mortgage interest, access to lower rates of tax and flexibility. it also puts your property business on a firmly professional footing, which can be helpful when it comes to persuading investors and lenders. but every individual’s case is different and its always worth taking advice – especially as the UK government keeps making changes that mean the decision gets…

SPOT THE PLOT BEFORE YOUR GOODS GET GOT What is occupational fraud?  Occupational fraud generally refers to fraud committed by an organization’s employees. This kind of fraud can be put into three categories: asset misappropriation, corruption, and financial statement fraud. According to the Association of Certified Fraud Examiners (ACFE) 2018 report to the nations, the U.S median loss from occupational fraud is around $108,000. Although there is not a typical profile of a fraudster in this area, evidence shows the…

The odds of a UK interest rate rise before the end of the year increase, as rising inflation puts more pressure on the Bank of England. Bank of America predicted the BoE would raise interest rates in December, to show that it is taking inflationary pressures seriously. UK gilt yields hit their highest level since May 2019, as the City braced for higher borrowing costs. The pound hit a two-month high against the euro before worries over the last Brexit…

    The department of Business expects to get Prime Minster Boris Johnson’s backing for a package to help energy-intensive industries’ as gas prices soar. On Monday, business secretary Kwasi Kwarteng asked the Treasury to support firms hit by rising energy costs. The proposal could involve loans worth hundreds of millions of pounds. The treasury has said to be still analysing the proposal, while number 10 has declined the comment. Prime Minister Boris Johnson is reportedly gearing up to offer struggling…

Over the past week, the UK has been hit by an automotive fuel shortage that’s leaving some filling stations with no option but to turn customers away. While that’s leading to gridlock and traffic jams at filling stations as drivers panic buy fuel, it’s also having another, more unexpected outcome. its driving interest in electric cars and public transport. According to figures compiled by UK newspapers, the Evening Standard, web searches for electric cars in the UK have soared over…

You can decide to commit to being self-employed full time, or freelance as your bit on the side. However, a more complicated issue is whether you intend to be a sole trader, or set up as a limited company. Sole Trader This is the more popular option, accounting for 60% of all businesses in the UK Pros: More straightforward then setting up as a limited company. Cheaper Cons: Should your business fail, you are the hook of any debts, meaning…

 What is Corporation tax? Corporation tax is paid by UK limited companies and some other organisations. It is based on the annual profits that a company makes. All profits are taxable however, certain specific expenses can be deducted, and there are allowances you can make use of to help reduce your tax liability. Who pays Corporation Tax? Corporation tax has to be paid by all Uk limited companies. Sole traders and partnerships don’t pay corporation tax, instead, they have to…

Starting a small business is a massive but rewarding undertaking. Part of a small business is doing things in a way that makes the most sense to you, but little guidance can help you as well. Consider these tips for starting your own company or incorporate as needed. Be organised To achieve the success you need to be organised. it will help you complete tasks and stay on top of things to be done. a good way to be organised…

What is Capital Gains tax? CGT is a tax paid by self-employed traders and those in business partnerships. it is also paid by individuals who have sold particular assets for more than £6000 such as: Second Properties, properties that have been inherited and valuable personal possessions such as jewellery and antiques. Shares that are not in an ISA or PEP Business assets like land and buildings, trademarks and fixtures and fittings. Capital gains tax is a federal fee you pay…