Evidence suggests that employee-owned businesses – those in which members of staff own a stake (often in the form of shares) in the business – are likely to show increased productivity and, as a result, increased profitability compared with those that do not.
Many expect their business to provide a substantial injection of capital into their retirement pot. However, before you bank the proceeds from sale there may well be capital gains tax to consider. Entrepreneurs’ relief means that capital gains tax is due at 10 per cent on all qualifying gains up to the maximum lifetime limit.
The provision of a company car is normally a taxable benefit for an employee or a director. The company car benefit charge for a full year is calculated by multiplying the price of the car for tax purposes (in most cases, its list price plus accessories less capital contributions) by the 'appropriate percentage'.
Communication is as much about non-verbal communication and listening as it is about speaking.
Growing your business in the current economic climate is challenging to say the least. As such, businesses need to think of new, often more radical ways of growing their revenue.
Where we act for you as your tax agent and you pay the new High Income Child Benefit Charge, we will need to know whether a partner or other relevant person received child benefit in the tax year.
This controversial initiative is to apply to shares received through the adoption of this new status of employee shareholder – probably from 1 September 2013 but there is always the chance of a delay due to criticisms from the House of Lords and the unions.
June's Money Facts
Interest-only mortgages were popular during the housing booms of the early nineties and 'noughties'. Typically, borrowers make monthly repayments that cover only the interest on the amount borrowed. The capital (the full amount borrowed) is then paid back when the mortgage term matures - typically after 25 years - using funds such as savings or inheritance, usually with the hope that the property will have increased in value.
Research from the Federation of Small Businesses (FSB) has revealed that small businesses are spending an average of £3,500 a year on technology in a bid to grow and create jobs.