Resource Centre

October 2017

Franchising

Franchising is becoming increasingly popular in Britain with an annual turnover of around £15.1 billion in 2015, up 10% on the figure from the previous survey two years ago. The business community now takes
franchising very seriously and it is accepted across a range of sectors. The advantages of owning your own business are obvious but so too are the risks.

Child Benefit Charge

The High Income Child Benefit charge applies to a taxpayer who has income over £50,000 in a tax year where either they or their partner, if they have one, are in receipt of Child Benefit for the year.

Legal working in the UK

In line with the Immigration, Asylum and Nationality Act 2006, it is a criminal offence to employ anyone who does not have an entitlement to work in the UK, or undertake the type of work you are offering. Any employer who does not comply with the law may be facing a fine of up to £20,000 per offence. Further, if employers knowingly use illegal migrant labour it could carry a maximum five year prison sentence and/or unlimited fine.

Companies-Tax saving opportunities

Due to the ever changing tax legislation and commercial factors affecting your company, it is advisable to carry out an annual review of your company's tax position.

Cars for Employees

The current regime for taxing employer provided cars (commonly referred to as company cars) is intended:

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