Philip Hammond delivered his first Autumn Statement last week and the first financial statement of Theresa May's leadership.
AMANDA OLLASON of accountancy firm AAB always aims to be proactive in the advice she gives to clients. That way tax planning becomes so much easier.
Whether we’re simply storing music and photos, checking our bank account or working on more advanced business applications, most of us will have some experience of using the cloud. Rather than storing data on PCs in our home or office, we send it to remote servers, from which we can access it at any time.
Imagine you are setting up a business in an overseas territory. You may be establishing the venture to undertake a specific contract, or you may just be dipping your toes into new territorial waters. Either way, would you want to go to all the expense and hassle of trying to recruit a finance team overseas, when you don’t know anything about the local labour market or culture?
International transactions have always been a complex area for indirect taxes resulting in a number of potential pitfalls for businesses- and 2016 has seen many additional challenges for organisations to consider. A new specialist training service delivered by Anderson Anderson & Brown (AAB) is positioned to support businesses to prepare for and tackle these challenges.
In the current economic climate, companies are increasingly looking for ways to cut their costs. One option, where a business is eligible, is to make a claim for Research & Development (“R & D”) Tax Relief.
Many of the issues companies face when setting up a UK business will be replicated in an overseas territory for example: legal matters; recruiting and remunerating local staff; calculating payroll taxes and payroll filings; corporate benefits for staff; taxation of UK staff working overseas; VAT and customs duties; corporate tax reporting and filing accounts. These matters can often seem complicated enough in the UK, but the fear of the unknown often means businesses are put off from expanding overseas.
We are all getting used to how the cloud impacts on us in our personal lives, for example storing data such as photos and music that we can access and share from anywhere in the world on our smartphones.
In this environment of driving operational efficiencies, have you considered how effectively and efficiently your own finance function is operating?
In the first of a multipart series, AAB’s Helen Wood discusses the various aspects of Norwegian tax compliance that employers need to be aware of when sending employees to work in Norway.
Xero’s cloud accounting software not only allows for multi-user access from anywhere, but it also creates the opportunity for banks to provide direct daily feeds. Alongside the intuitive reconciliation process, businesses really do have a tool which can now produce up-to-date financial data at the touch of a button. No wonder that Xero is increasingly recommended by so many accountants.
If you’re thinking of selling your business, it really pays to plan ahead. In my experience, you’ll never get the best price if you’re reactive or rushed. You need to prepare properly as a vendor. Here are some top tips: