Comments for Jon Stow Consulting - Tax Solutions

Comment on Why are my accountancy fees so high? by James Hadley

James Hadley — Sat, 04 Sep 2010 11:29:26 +0000

John, I entirely agree with your viewpoint.
J

Comment on Why are my accountancy fees so high? by Jeremy Edwards

Jeremy Edwards — Wed, 01 Sep 2010 14:59:47 +0000

Most people driving a car don’t read the manual either!

Being an accountant turned IFA, I see lots of examples where people make decisions that, given a small amount of insight, they would have avoided. Running their accounts to minimise tax means they cannot have a suitable sized mortgage is a classic gotcha. The other regular one is failing to devise a suitable exit strategy for ultimate retirement. Once you take on board the idea that the company is separate from the person, all kinds of priorites come out, like making sure it runs happily while you go on an extended (even permanent!) holiday.

Comment on What are golden handshakes? by jon

jon — Tue, 10 Aug 2010 11:33:03 +0000

Stephen, my article is about the tax treatment. Whatever payment you might receive is governed partly by your contract and of course your employer would have discretion as regards any additional payment. Strictly this is an HR issue rather than a tax matter and I am not qualified to comment.

In my experience often an employer will help with paying fees so that the employee can get independent legal advice, but I would suggest you book time with an employment solicitor either way if you are unhappy about any deal being offered.

Comment on What are golden handshakes? by Stephen Jones

Stephen Jones — Mon, 09 Aug 2010 11:56:34 +0000

Hi,
I have recently been TUPE transfered on 1st APRIL 2010 following the company being purchased by MITIE.
Our division was TUPE transfered from the company purchased which fell under the management of another section within MITIE to their Engineering section.
MITIE have just notified all in our division that they are closing us down and we are all in redundancy consultation process at present. There is no mention of the PILON arangement in my service agreement, but I expect to be allowed to leave immediately rather than work my 6 months notice.
As MITIE are a new employer and I a new employee to them by approx 4 months, therefore being no expectation one way or the other, would I qualify for a golden handshake as part of my leaving package.
I have 15 years service in the TUPE transfered company my age is 55 and a director of the TUPE company.

Comment on The 50 Day Budget and idle speculation by Jon Stow Consulting – Tax Solutions» Blog Archive » Capital gains and wild exaggerations

Sun, 27 Jun 2010 13:15:12 +0000

[...] regime start? April 2011, April 2010 or 22nd June 2010? I have no idea of course and this is more idle speculation but given that the tax take from CGT is small, there is a degree of political window-dressing, so I [...]

Comment on Why are my accountancy fees so high? by jon

jon — Tue, 08 Jun 2010 17:19:13 +0000

Thanks, Emily. I do wish all company owners would at least read the manual before turning the ignition key.

Comment on Why are my accountancy fees so high? by Emily Coltman

Emily Coltman — Tue, 08 Jun 2010 15:28:51 +0000

Hi John,

Great analogy to compare a company with a car. I like it.

Comment on HMRC’s stealth taxation through technology by Jon Stow Consulting – Tax Solutions» Blog Archive » Corporation tax on-line and all that jazz

Fri, 04 Jun 2010 17:06:19 +0000

[...] has been a great deal in the professional tax press recently about HMRC’s intention to compel submission of corporation tax returns on-line using iXBRL from April [...]

Comment on Be responsible and pay your tax by Neil Reddin

Neil Reddin — Thu, 04 Feb 2010 16:38:59 +0000

I think the problem is one of value for money. People feel that the level of taxation is excessive given what they are getting / what the state is spending their taxes on.

It's a perception reinforced more recently by MPs expenses (even though in the grand scheme of public finance, £1m is chicken feed) and the bank bailouts. Then there's the perennial complaints about over-generous welfare benefits, etc, etc.

To use your analogy, it's like filling up with the cheapest petrol you can find, then finding that you're still paying over the odds to subside the guy at the next pump who is allowed to fill up his Hummer for free.

Not that I'm condoning tax evasion ... just understanding the motivation.

Comment on Dodging the Excise Men – encouraging a tax evasion society by Mark Lee (Chairman of the Tax Advice Network)

Mark Lee (Chairman of the Tax Advice Network) — Mon, 14 Dec 2009 11:10:52 +0000

A business acquaintance of mine recently said he had always been scrupulously honest as regards the split of business and personal expenses he incurred. To date he has never attempted to charge business expenses to his company.

In the wake of the MPs expenses scandal he says he is less sure about being so honest in future. He's tempted to charge personal expenses on his company credit card and to put these through his company books. He's convinced his accountant won't notice and nor will the taxman.

He's an honest man but with him it's more the MPs behaviour than increases in tax rates that is impacting his approach going forwards. And sadly I doubt he's the only one.