You must register if your total VAT taxable turnover for the last 12 months was over £85,000 (the VAT threshold) or you expect your turnover to go over £85,000 in the next 30 days. You can choose to register for VAT if your turnover is less than £85,000 (‘voluntary registration’). How to register for VAT

The law in the UK protects employees’ rights when the business they work in is sold or is transferred to another business. Such transfers are often referred to under the term “TUPE” transfer, which comes from the legislation governing it: The Transfer of undertakings (Protection of Employment) Regulations 2006. In broad terms, TUPE protects an

What is Capital Gains Tax Capital Gains Tax (CGT) is a tax on profit (‘gains’) made on the disposal or sale of ‘chargeable assets’ when selling your business. CGT only applies to individuals (including sole traders and partnerships), trustees, and personal representatives of deceased persons. Below, we explain when and how to pay Capital Gains

If you are going to employ staff there are a few points you need to know. This article by Quickbooks covers them well. #1 – Legal status For obvious reasons it’s hard to quantify how many people are working in the UK without the legal right to do so. It’s why the authorities take an

If you run your own business at some point you will decide the time is ripe for a change. The most common reasons we hear are: • I’ve decided to do something completely different because this business no longer provides me with a challenge • I’ve decided to get out of this business because I

This is where you deposit between three and six months rent with your Landlord as security against you not paying the rent or committing other breaches of the Lease. You should consider carefully the basis upon which this sum is returnable to you.

Leasehold means that you own the property, but the freeholder owns the land upon which the property is built. This gives you the right to occupy the property for as long as the Lease is valid. Freehold, on the other hand, means that you own the property and the land upon which the property stands

You should have a strategic plan in place for when it may be time to sell. Failing to plan for a business sale or tune in to the signs that it’s time to sell, could lead to disaster. This failure could result in you bungling your exit strategy. With this article, we’ll take a look