Several issues can lead to a law firm’s financial instability, and in some cases, actions can be taken to improve performance. However, sometimes a firm’s debt is just too large to make survival possible. What are the next steps?
If either you or your partner has an income of more than £60,000 a year before tax then you’ll have to pay back some (or all) of your Child Benefit in the form of extra Income Tax.
Now that we have embarked on a new tax year there are some considerations sole traders and partnerships should make when it comes to tax planning over the next 12 months.
Funds held in a pension are not included in valuing your estate. If IHT applies to your estate, your pension funds aren’t included and therefore won’t be subject to a 40% tax.However, as with many aspects of financial planning, it isn’t always this straightforward.
From an automotive perspective the question is always whether the Chancellor’s announcements will either improve consumer confidence and spending power or have a positive effect on motor retailers directly.