Your stake in your business

Ever wondered how your stake in your business is represented in your accounts? The answer can be found at the bottom of your balance sheet. Simply put it is the value of your physical business assets less any liabilities; usually described as net assets. But this is...

The ‘fiscal’ goal posts will be moving

In the coming months we will start to see how our new government intends to change the UK tax rules to further its economic growth agenda. Whatever they decide to do, readers who presently benefit from tax and/or business planning strategies, should be prepared to...

Taxable and non-taxable State Benefits

Whilst there are a large number of state benefits available, it is not clear which of these benefits are taxable and which are tax-free. HMRC’s guidance provides the following list of the most common state benefits that are taxable, i.e., Income Tax is payable,...

Gains on sale of shares

Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% (but see comments below) when you sell shares unless they are in a CGT free investment such as an ISA or qualifying pension. Your gain is usually the difference between what you paid for...