- Place 100% of the cost of your life cover on company expenses (even if you have existing plans in place to protect your mortgage or income – swap and save)
- Benefit from 20% corporation tax relief on the cost of the premium
- No alteration to your P11D status
- The policy is written into trust from outset
- Life cover and terminal illness benefit included
- The policy can be moved between businesses or converted into a policy paid from your personal account if circumstances change
- The average we save our clients is £15,000 over the lifetime of their plan simply by swapping to a Relevant Life Plan
Last week the ICAS reported based on IFAC research..
SMEs were shown to traditionally rely on accountants as a main source of business advice. One study identified an 8.1% average increase in sales growth and a 29% decrease in likelihood of failure for businesses using an external accountant.
Also last week smallbusiness reported that 1.3 million britons want to start their own business.
So when would a business need to contact an external accountant?
- Business Plans
- Budgeting and Forecasting
- Cash Flow Management
- Buy or Rent decisions
- Capital Investment Appraisal
- Accounting Procedures and Systems
- Business Strategy
- Busines Funding and Investment
For start ups its particularly important to ask your accountant to help with:
- Choosing the right business structure for your business – most businesses start out as sole traders but once they start making profits convert to limited companies, this is because sole traders pay more tax than company structures
- Choosing the…
View original post 43 more words
Life Insurance isn’t as expensive as you might think – especially if your company pays for it with Relevant Life Expert.
So, whether you are already paying for life insurance out of taxed income or you have not yet got around to putting vital life insurance in place, a Relevant Life policy could be the most tax-efficient solution.
For more information, contact Relevant Life Expert on 01202 700053 or request your free impartial quote here: http://rlp.relevantlifeexpert.co.uk/relevant-life-expert/
“LIFE COVER WAS NOT SOMETHING I HAVE EVER THOUGHT ABOUT UNTIL I HAD CHILDREN. AS THE MAIN EARNER IN OUR FAMILY, I WAS CONSCIOUS THAT IF SOMETHING SHOULD HAPPEN TO ME, MY FAMILY WOULD BE LEFT IN A TRICKY FINANCIAL POSITION. WHEN I DISCOVERED I COULD ACCESS LIFE COVER IN SUCH A TAX-EFFICIENT WAY THROUGH RELEVANT LIFE EXPERT, I WAS SOLD!”
The New Fiver was unveiled at Blenheim Palace on 2 June and will be shown to the public at a number of events across the UK this summer.
The New Fiver will enter circulation on 13 September. It will then take a few weeks for the notes to spread across the country to shops, businesses and banks.
In May 2017 paper £5 notes will cease to be legal tender and will no longer be accepted by shops and banks.
The New Fiver is the first of the Bank of England’s new series of…
View original post 170 more words
From the 30th June 2016 all companies will be required to prepare a PSC Register.
You need to start keeping a register of your people with significant control (PSC).
A PSC is someone in your company who:
- owns more than 25% of the company’s shares
- holds more than 25% of the company’s voting rights
- holds the right to appoint or remove the majority of directors
- has the right to, or actually exercises significant influence or control
- holds the right to exercise or actually exercises significant control over a trust or company that meets any of the other 4 conditions.
You’ll need to keep your PSC as part of your company register, as these need to be available for inspection.
Failure to comply will result in fines and up to 2 years in prison!
Taskforces are specialist teams that undertake intensive bursts of activity in specific high risk trade sectors and locations in the UK. The teams will visit traders to examine their records and carry out other investigations.
HM Revenue and Customs (HMRC) taskforces have recovered more than £500 million since they were launched five years ago.
The targeted bursts of enforcement activity have brought in progressively higher amounts every year, and the total now stands at more than £540 million. This includes nearly £250 million raised in 2015-16 alone, almost double the previous year’s yield.
Since 2011, HMRC has launched more than 140 taskforces targeting sectors that are at the highest risk of tax fraud including the retail sector, the tobacco industry and the adult entertainment industry.
Jennie Granger, Director-General for Enforcement and Compliance at HMRC, said:
The message is clear: if you try to cheat on your tax…
View original post 365 more words
http://www.stevejbicknell.com has now had over 300,000 views, nearly 200,000 unique visitors and on Sunday reached a new daily views high of 1,396 views in a single day!
I think that’s pretty impressive for a Tax and Accounting Blog!
We have over 7,000 followers and our most popular day is Tuesday and the best time is 1pm, which is interesting as last year it was Wednesday at 10am.
Our top 3 blogs of all time are:
January 2016 has had the highest monthly number of hits at 12,000
So why do people read my blog?
- Useful Content – I learned a long time ago that if you want followers and readers you have to write about things that will interest as wider audience as possible. My blog is about Accounting and Tax, which you might think is boring but it does affect everyone, we all pay tax! and…
View original post 207 more words