News: May 2014 VAT and discounts for prompt payment Many traders offer a discount for prompt payment. Under current UK VAT rules, output tax is accounted for on the discounted price, whether or

News: May 2014 CGT entrepreneurs relief applies up to 3 years following cessation Capital gains tax entrepreneurs' relief provides for a 10% rate on the disposal of a business, including a sole trade

News: May 2014 Payment of self-employed class 2 national insurance Class 2 NIC for the tax year 2014/15 is charged at the rate of £2.75 per week. It is possible for those with

News: April 2014 Why too much automation is not a good thing Thanks to advances in technology, there is a constant drive towards the automation of processes within businesses. From running the monthly

News: April 2014 Tax Personal allowances Personal allowances are fixed for 2014/15 at £10,000, the level promised in the Coalition Agreement. However, the Budget announced that there will be a further (above inflation)

News: April 2014 Avoiding issues in managing your team Managers act as the front–line between chief executives and their employees. They are tasked with not only 'getting the job done', but are also

News: April 2014 Savings Important changes to ISAs In order to encourage savers, the current £11,520 ISA limit is to be significantly increased to £15,000 from 1 July 2014. Furthermore, the current 50%

News: April 2014 Avoid running your business by committee While large businesses are often run by boards of directors, that approach doesn't work for a small or medium sized business. A business isn't

News: April 2014 New flexible pensions There are significant changes being proposed which will make it easier to access your pension fund pot if you have a defined contribution (money purchase) pension scheme.

News: April 2014 Social media marketing is not a 9 – 5 process The growth of social media means that business is now 24 hours a day, seven days a week – what's