As the North-East of Scotland is aware, the oil and gas industry is experiencing a major downturn, forcing companies to reassess their operations, including looking overseas for opportunities to utilise their knowledge and expertise.
Although farming businesses have had a tough time in recent years, there may be some relief in sight.
When people hear that an insolvency practitioner (“IP”) is involved with a company, it is usually in relation to something akin to the recent failure of national chain British Home Stores. But do we spend all of our time making employees redundant and selling off assets? The answer is a resounding no. However, the “other side” to an IP’s work rarely gets any public attention.
The one thing we have been sure of since waking up to the reality of Brexit on 24 June is that, until the UK exercises Article 50, the UK is still a full member of the EU. It will only be once the negotiations end and the UK, in whatever constitutional format, exits the EU, that the VAT rules change.
The most important task for any business is making sure that they get paid for their work. Here are some top tips from STEVE MITCHELL of accountancy firm AAB on how to ensure that the cash flows in.
The core rules for taxing termination payments have changed little in the past 20 years save for the occasional tax case on contentious areas. However, that does not mean that they are well understood and the Office of Tax Simplification rightly identified the treatment of termination payments as an area ripe for simplification.
Here are some rule changes which may have a big impact on the housing market.