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Monthly Archives: June 2019

CGT giveaway?

The awkwardly named “Gift Hold-Over Relief” (GHOR) allows you to give away business assets – including certain shares – or sell them for less than they are worth, and not pay (or pay reduced) capital gains tax (CGT). The person … Continue reading

Posted in Business

Have you heard of the Prompt Payment Code?

The Prompt Payment Code (Code) is not a fanciful device to access cash from bank machines or a way to secure automatic “prompt” payment from your customers. The Code was actually set up by the Chartered Institute of Credit Management … Continue reading

Posted in Business

What exactly is insolvency?

The dictionary definition of insolvency is less than illuminating, it is: The state of being insolvent… Listed synonyms provide more detail: bankruptcy · liquidation · failure · collapse · ruin · financial ruin · ruination · pennilessness · penury · … Continue reading

Posted in Business

Complaining to HMRC

Although many of the tax office processes are automated, dealt with by computerised systems, the rest is managed by human beings each subject to the same range of foibles as the rest of us. And we all know how reliable … Continue reading

Posted in Business

The real tax cost of benefits in kind

There is a sting in the tail for companies that provide their directors or employees with taxable benefits as part of their remuneration package. Obviously, the directors or employees that receive the benefits will pay additional income tax if the … Continue reading

Posted in Business