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Personal Finance

Tax planning opportunities 2016/17

The following guide is not an exhaustive list of the tax planning opportunities available but should be used to remind yourself or identify where tax planning opportunities are available. If you would like to discuss your tax position and any allowances or exemptions which may be applicable to you, please contact us today on 0121 711 2468 or 024 7651 8555.

Autumn Statement 2016

On Wednesday 23 November 2016 Phillip Hammond presented his first Autumn Statement. So what exactly did the Chancellor say and, more importantly, what did it actually mean?  

Limited Liability Partnerships

The key advantage of a LLP compared with a traditional partnership is that the members of the LLP (it is very important that they should not be called partners but members) are able to limit their personal liability if something goes wrong with the business, in much the same way as shareholders in a company have always been able to do. Of course anyone lending money to the LLP such as a bank may still require personal guarantees from the members, as they frequently do with directors/shareholders in a company.

Health and Safety

It is very likely that owners and managers of many smaller businesses are not aware of just how demanding health and safety regulations can be.

Personal Tax Self Assessment

Under the self assessment regime an individual is responsible for ensuring that their tax liability is calculated and any tax owing is paid on time.

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