| Emergency budget announced – increase in CGT rates anticipated |
George Osborne announced last week that an emergency budget will be held on Tuesday 22nd June. Whilst the detail can only be guessed at until then, it appears increasingly likely that the rate of Capital Gains Tax on the disposal of non-business assets will rise.
If you are contemplating selling an investment property, shares or some other asset which is unconnected with your business, it would appear to be sensible to at least consider whether you should attempt to sell prior to the 22nd June to take advantage of the current low rates of 18% (presuming that the change in rate is not backdated!).
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Of course, tax is just one issue to consider when you are looking to sell an asset, so please contact your Principal Adviser as a matter of urgency, should you be looking to dispose of any assets in the foreseeable future.
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| The importance of getting your tax affairs correct first time |
HM Revenue & Customs recently introduced a new penalty regime for personal taxes, with the intention of making it easier for taxpayers to ascertain what penalties can be expected and when they will be imposed.
HM Revenue & Customs guidance on the new penalty regime confirms that no one should be fined for making an ‘honest mistake’. To reduce your exposure to penalties you should ensure that you provide all information to your advisor as soon as possible after the tax year end. If you have any queries or are not sure if something should be declared, please contact your client manager who will be happy to help.
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For further details on the issues that can arise from the new penalties please click on the following link.
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| The ten vital ingredients for a successful new or emerging business |
Many years ago, a huge research programme was undertaken to identify the ten issues that were most crucial to the success of a small business. Failure to address these issues was identified as being the primary root cause of small businesses going bust.
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You can find out about these ten issues and how to tackle them by joining us at the Thistle Hotel, Brands Hatch on 17th June 2010 for our breakfast seminar starting at 7.15am and finishing by 9.45am. Attendance costs only £15.00 plus VAT (free to clients of A4G). If you would like to attend or require any further information on our seminars please email Jenny at jenny@a4gsolutions.co.uk.
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| A4G helping you make your business less dependent on you |
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Make your office paperless or at least “less paper”. This can be done by scanning documents and saving them in a file structure that is easy for everyone in your team to navigate and find. If others are able to access information quickly and easily, your involvement in trivial issues will reduce substantially.
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