Tax Rates and Allowances 2022/23
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Tax reliefs when you sell a business
Over the years, a number of different reliefs have been introduced and subsequently replaced, with the intention of providing a lower taxation rate to an entrepreneur selling their business. It was felt unfair that someone who had built up a business over a number of...
Farm Diversification
Many farms have diversified and operate additional commercial ventures, such as renting or introducing other business operations. There are often risks with the potential loss of taxation reliefs if different activities are undertaken and these should be considered in...
Management Accounts, Forecasts and Budgets
I recently read an article questioning if small businesses should be required to prepare accounts. The author argued that a small business owner knows how well their business was doing by the customers coming through the door and the cash balance in their bank. In...
Business Plans
Many businesses will often have a short-term focus and a business plan can help them set their longer term targets. A business plan is a written document and will normally set out aspirations and will include accounting and cash flow projections. Although factors are...