If you need to submit a Self-Assessment Tax Return (SATR) it’s imperative you get it in on time and error-free. In 10 self-assessment tax return mistakes to avoid, an article for bdaily.co.uk Carol Cheesman explains how to get started with your SATR, and how to avoid these 10 common mistakes relating to: Signature & date […]
Wills – Why are they important for you and your business and when should you make one?
Nobody likes to think about, or plan for, their death. However, if you want to see your assets go to the people of your choice after you die, then a will is a must. Otherwise, your property will be distributed under the laws of intestacy. Generally, anyone over 18 and of sound mind can make […]
Shall we buy our house as Joint Tenants or Tenants in Common?
Joint Tenants: If you own your home as joint tenants, then you both own 100% of the property. When one partner dies, the other automatically becomes the sole owner. Tenants in Common: If you are tenants in common, then you both own shares of the property, which can be equal or unequal. Respectively, it could […]
Am I UK Resident or Non-Resident and how does this affect my business?
In The UK, you are charged tax on: Income arising in the UK – whether or not you live in the UK, Income arising outside the UK – belonging to those who are resident in the UK; and Capital Gains which arise outside the UK – belonging to those who are resident in the UK […]
Incorporation. The big deal.
Reproduced with kind permission from Nursery Management Today March/April issue 2013 To incorporate or not to incorporate? That is the question, says Carol Cheesman, who talks readers through some of the issues you have to consider before taking – or not – the big step. You have a fledging nursery business or perhaps you’re planning […]
Lasting Power of Attorney: What is it, why should I get one and how can it save my business?
A Lasting Power of Attorney (LPA) is a legal document whereby a Donor (e.g. yourself) entrusts a personally selected Attorney or Attorneys to deal with certain personal matters once they themselves lack the capacity to do so. An LPA is a document to have if you want peace of mind, particularly if you own a […]
10 common Self-Assessment Tax Return mistakes and how to avoid them
Not everyone needs to complete a Self-Assessment Tax Return (SATR), but for those who do, it’s not always straightforward. If you need to complete an SATR, HM Revenue & Customs (HMRC) will send you a letter in April each year enclosing an SATR for you to complete. There are penalties for not submitting your Tax […]
French Wealth Tax – How does it affect UK citizens?
The French wealth tax not only affects those who are resident in France but also those who are resident elsewhere but have substantial wealth or assets there. They type of assets taxed include: Property Investments Cash Personal belongings Business assets, art, antiques and historical artefacts are excluded. Former French President Nicolas Sarkozy cut the wealth […]
Obvious points people forget when setting up a company abroad
Many people decide to move abroad for personal reasons, such as a better quality of life. They dream of becoming their own boss and doing away with the relentless nine to five routine. While setting up a bar in the Bahamas with tourists sipping your famous Pina Coladas at sunset might be a nice idea, […]
How to reduce your Inheritance Tax liability
One resented tax that can hinder how much of your hard-earned assets are passed to your children, friends and family is Inheritance Tax (IHT). The thought of paying IHT can leave you feeling irritated because it’s likely that some of your hard-earned assets cannot be passed to your loved ones without a huge chunk of […]