Business and Tax Round-up

Government urged to take ‘tough action’ on late payments A report published by the Business, Energy and Industrial Strategy (BEIS) Committee recently highlighted how ‘bad payment practices’ have led to the ‘failure’ of many small and medium-sized enterprises (SMEs). The government’s Prompt Payment Code, which was created to address poor payment practices, has ‘too often’ … Read more Business and Tax Round-up

Spotlight on charities

Although charity law varies across the UK, charity governance is very much in the spotlight. In a recent report, the Charity Commission for England and Wales (CCEW) suggested that nearly 40% of small charities were submitting inaccurate financial information. Small charities are defined as those with annual income below £25,000, and this category makes up … Read more Spotlight on charities

Entrepreneurs’ Relief: an update

Entrepreneurs’ Relief (ER) is available to taxpayers on the disposal of the whole or part of their business. ER means that you pay capital gains tax (CGT) at a rate of 10% rather than 20%, subject to a lifetime limit of £10 million. Following the 2018 Autumn Budget, new conditions have been introduced to ensure … Read more Entrepreneurs’ Relief: an update

Read the Latest NLP Newsletters

The latest NLP newsletters have been published this week. As ever, there are two newsletters covering key developments in personal and business finance. The Personal Tax Newsletter includes articles about planning for Inheritance Tax and Pensions tax relief. Landlords will find information about furnished holiday lettings and how they can be used as a tax-free … Read more Read the Latest NLP Newsletters

Business and Tax Round-up

Government scraps its plans to abolish Class 2 NICs The government recently scrapped its plans to abolish Class 2 national insurance contributions (NICs). They were originally due to be abolished in April 2018, but the plans were delayed for a year until April 2019. The government has now announced that Class 2 NICs will not be … Read more Business and Tax Round-up

Creating a business continuity plan

A recent report by the Federation of Small Businesses (FSB) has revealed that many business owners in the UK are not sufficiently prepared to handle unexpected disruption to their business. A business continuity plan can help to safeguard your business against both internal and external disasters. By considering the points below, you can help to … Read more Creating a business continuity plan