Jon Stow Consulting – Tax Solutions

Protecting the tax take

Accountants’ tax duties

Times are difficult, but there are still many small businesses making profits, although those profits may well be under pressure. Some are making losses of course. It is fair for all business owners, whether they have companies turning over some millions, partnerships turning over hundreds of thousands or sole traders turning over tens of thousands to expect their accountants to ensure they pay no more tax than they should.

Tax … Continue Reading

Following George Osborne’s “Emergency” Budget in June and still in the middle of a downturn, it is been hard to assess the immediate impact of the changes announced on small businesses. This practice acts for many who are wondering how they will be affected, and whilst there was a good deal of immediate reaction in the aftermath, there has been time for some more considered thought.

I am not blessed with second sight, but will dive into the debate anyway. Firstly, here are the basic measures:

• For small incorporated businesses the … Continue Reading
  

We now know that the “Emergency Budget” will be on 22nd June. In the interim we will have further flapping about the headline rate of capital gains tax going up to the highest marginal income rate (40 or 50%), as opposed to the 18% flat rate we currently have for non-business assets and an effective 10% rate for business assets.

Well hang on, isn’t that what we had up to April 2008, only two years ago? The rate then was effectively 10% for business assets … Continue Reading

Complaints about accountancy charges from SMEs and small business owners trading through companies are common, but often the answer lies with the businesses themselves. I would be the last to deny that some accountants are lazy in looking after their clients and in ensuring that they are getting good value from the services they provide. In our profession as in any industry we get those who are not serving their clients or customers well and are surprised when their clientele vote with their feet.

There is another reason why accountants may charge quite a lot, and that is because they really … Continue Reading