Richard Coombs, tax partner at Bates Weston, uncovers the problems demergers are designed to fix. He explains how problems arise and why trying to resolve them using anything other than a demerger can often lead to significant tax charges.
HMRC are consulting on the tax treatment of Employee Ownership Trusts – an increasingly popular alternative to trade sale or Management Buy Out for business owners. Richard Coombs, Tax Partner at Bates Weston, considers HMRC’s proposals.
If you are a sole trader or partnership and your accounting year end is not 31 March or 5 April, you are going to be affected by a change in the way taxable business profits are calculated for a tax year.
In his Spring Statement, Mr Sunak announced a 5p cut in fuel duty, an alignment of NI thresholds with personal tax allowance from July 2022, and promised a 1p cut in income tax, but not until April 2024.
Is your business looking to grow by adopting digital technologies? We take a look at the Government’s Help To Grow: Digital Scheme.
Regular check ups on the financial health of your business, particularly on cashflow, let you spot and resolve potential problems before they become major issues.