The government has taken the drastic action of reducing VAT from 17.5 to 15%. What action do you need to take to ensure that you’re up to date with new government taxation changes?
As the inevitable forthcoming recession looms and the Government’s borrowing-to-spend plan raises both opportunities and threats to UK business, effective business planning has never been more necessary, nor has it been more difficult.
The famous economist John Maynard Keynes once remarked that “the avoidance of taxes is the only intellectual pursuit that carries any reward.” He certainly had a point; minimising taxation can be very taxing on the grey matter.
Value added tax (VAT) is something you will be familiar with. But are you familiar with how it works in the business world? You need to know about it; especially whether you should currently be VAT registered.
When you’re looking to set up a business it’s important to know what type of structure is best for your situation, the business and the market you will be trading in. There are different options available: you may be best as a sole trader, an LLP or an LTD.
There are many old adages around in the world of investing and a couple of them seem particularly appropriate just now:
Bridging loans can be an excellent way of living up to their name and bridging a short term gap for companies that need to negotiate some troubled water quickly and effectively.
These are unprecedented times in modern business but one advantage of the economic downturn is that mergers/acquisitions can be more easily achieved, providing important economies of scale.
As worries increase over global growth and major economies contract, the bad news and ever shrinking markets are threatening the very survival of smaller companies in the UK. The negative knock-on effect, down the line, of decreased consumer spending is already affecting some of the UK’s larger companies and will inevitably affect the smaller outfits in time.
As world economies slip into recession and new job losses are announced every day, small companies are having to look at new ways of surviving the worst of the downturn.