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PREPARING YOUR BUSINESS FOR SALE

By Michael Cantwell, head of corporate finance at RMT Accountants & Business Advisors Ltd The last two years have been the catalyst for change on a wide range of different fronts within the commercial world. Without the pandemic, there’s no way, for example, we would have seen remote and flexible working being such a common

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Expansion of the Trust Registration Service – What you need to know

From 1 September, changes to the rules regarding the Trust Registration Service (TRS) mean that more trusts will need to be registered with HM Revenue & Customs. The TRS was introduced five years ago to make the beneficial ownership of assets held in trust more transparent. While many trusts have had to sign up for

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Our top tips for hiring your first employee

There has been a surge in new company formations in the last few years, as entrepreneurs develop new and exciting business ideas and bring them to market. On top of this, there are a growing number of workers with ‘side hustles’, who are quickly scaling up their operations to deal with demand from their customers

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Working from home tax relief continues, but fewer employees likely to be eligible this year

HM Revenue & Customs (HMRC) has retained its online portal for claiming working from home tax relief for the 2022/23 tax year. But, while the rules and value of the relief remain unchanged, unless there are any further lockdowns this year far fewer people are likely to be able to claim. That is because only

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Dividends V Salary: Making profits pay for your salary

We all want to keep more of our hard-earned money. For business owners, it can be a difficult balancing act to find the most tax-efficient way to get paid from the company’s profits. This is where the dividend versus salary debate comes into play, as the way in which we are paid can have a

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You might owe Capital Gains Tax on your property sale….

The rules around Capital Gains Tax and property sales are continually changing and many homeowners and their advisers may not be aware that they owe tax on the disposal of a property. Typically, when a main home is sold no CGT is due. However, in some circumstances, you may have to pay tax, at a

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Tax bill warning as HMRC names avoidance schemes

Anyone involved with questionable tax avoidance schemes have been warned by H M Revenue & Customs (HMRC) to withdraw from them as soon as possible. HMRC issued the warning after naming Absolute Outsourcing’s or Purple Pay Limited’s Equity Participation Scheme and said people should withdraw to avoid building up a hefty tax bill. This is

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£12 million funding launched to boost UK tech growth

A new grant competition has been introduced by the Government to aid the growth of innovative tech start-ups and scale-ups in the UK. The Digital Growth Grant, worth £12.09 million, aims to offer accessible skills training and guidance over two years, as well as support facilities to the digital and tech sector. The funding will

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Brexit leaves shortfall in university-led training projects funding

The Government has been warned that as many as 164 university-led skills and training projects could be halted or axed due to European funding running out by the end of next year – reducing skills and training support for SMEs. The UK Shared Prosperity Fund (UKSPF) will award £2.6 billion of new funding for local investment

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