The ups and downs of starting a business – everyone knows there are both. When we read about successful entrepreneurs like Bill Gates or Steve Jobs, we all want to be as successful but the reality is we won’t all be and it’s definitely not an easy ride. The line between starting up a business […]
Archive | Accountancy
Boy Racers, Yachts and zero income tax
The first thing a Formula One driver would do when he/she started to earn some serious money would be to leave the UK. Can you blame them? If you had an annual salary of over £10m, on which you were taxed 45% by the Inland Revenue, and had an estimated worth of £88m, you would […]
Ensure it’s a Merry Christmas
With the festive season approaching, it is worth reminding employers that HMRC has a few presents to give out, since staff Christmas parties can be tax-free under rules which allow businesses to spend an annual tax-free amount of up to £150 (including VAT) per staff member on entertainment. The rules apply to any annual party […]
How many taxes are there in the UK?
In an attempt to answer this question I decided to do some research. I found blogs and forums of people discussing similar questions. The reality is; maybe it’s easier to list things that aren’t taxed. Think about your normal working day; you wake up (paying council tax), you drive to work (paying car tax, road […]