A purchase of own shares, is a purchase, by a company of its own shares from a dissenting or retiring  shareholder, a company buys back its shares where a shareholder wants to reduce or end their involvement with the company and it could be that the other shareholders may not want to, or may not have the…

If you are starting a new business and need to raise some funding for the company or indeed you are AN Investor looking to invest in a new business, then in the article below we give you two very important reliefs, these are Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS), both are…

WHAT IS A CONTRACTOR The scheme covers companies, partnerships and self-employed individuals. The businesses can be contractors, subcontractors or both contractors and subcontractors. An employee cannot be part of the scheme. HMRC defines a contractor as a business or other concern that engages and pays subcontractors for construction work. Contractors may be construction companies and…

The CIS SCHEME We are often  asked the question as to what type of work is covered under the CIS legislation and what is excluded, we hope the article below sheds some light on what in practice can be confusing. Firstly it is worth noting that the following types of work are excluded. In terms…

Entrepreneurs’ relief (ER) reduces the rate of capital gains tax (CGT) on disposals of certain business assets from 20% to 10%, to be able to claim ER, a series of conditions have to be met and one of them is  where the shares are sold, the company must be a trading ( or Holding company…

In the current economic climate, it is increasingly likely that at some stage, you could have to manage a redundancy process. In today’s uncertain business climate many firms face the possibility of having to reduce their operating costs. This means that many managers will have to run a redundancy process. Apart from being an unpleasant…

Care is always required when employees are made redundant or payments are made on the termination of employment. Not only are there employment law considerations, there are also important tax implications and this is an area where professional advice is strongly recommended to avoid unnecessary pitfalls. The tax treatment of these payments changed from 6…

There is a general increase in environmental awareness and businesses are expected to play a part in the drive for reduced emissions.  Environmental issues have moved to the top of the agenda since recent climate change demonstrations by people across the world as part of the “extinction rebellion”. This included protests involving thousands of people…

Where large or medium-sized organisations are paying workers via personal service companies or agencies they will need to operate new procedures from 6 April 2020. The new rules will apply to partnerships, LLPs and larger charities as well as limited companies. Only those organisations that would be classed as “small” under the Companies Act criteria…

The government has announced that there will be a zero P11d benefit for the drivers of electric cars from 2020/21. This is instead of the 2% scale charge that was originally included in Finance Act 2017 to apply for 2020/21. The legislation for the change will be included in Finance Bill 2020 and it is…

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