An explanation of PAYE coding notices

Employees and employers receive periodic updates to tax code numbers. This number is used by your employer/pension provider to calculate the amount of tax you are stopped on your salary and/or pension. If your affairs are straight forward (and you are not able to claim certain age related allowances) you are entitled to earn the…

Associated companies and corporation tax

Most smaller companies pay corporation tax on their profits at the “Small companies rate” – presently 20%. However if profits exceed £300,000 the average rate of corporation tax payable gradually increases, until at profits of £1,500,000 and above all profits are taxable at the main rate of corporation tax, 30%. Enterprising entrepreneurs might be tempted…

Tax Planning Ideas – pre 6th April

Here is a list of possible tax planning options that could be considered prior to 6 April 2008. The list is not complete. Tax payers with complex affairs should consider a formal review before the end of the present tax year. Savings: 1. Maximising ISA’s for younger savers. 2. Maximising ISA’s for other savers. 3.…

Discounting Is Dangerous

Offering a discount in the heat of negotiations may seem like a good idea at the time but thoughtless discounting is an easy way to lose money fast.   Before you succumb to the temptation to win new business by offering a discount take a moment to consider these ten problems associated with discounting. Discounting…

Good Business Deeds Can Be Good Business Deals

Good Business Deeds Can Be Good Business Deals ‘Cause’ marketing that links your company or brand to a non-profit group or charity enables you to promote your business while you give something back to your community. Perhaps the most interesting aspect of this kind of marketing is that it’s been shown to make customers feel…