Friday, 16 September 2016

4 Ways to reduce Inheritance Tax

When planning your estate, beware of inheritance tax. If your estate’s value eclipses a specific threshold (£325,000 at present), when you pass away, your estate will be required to pay a 40% inheritance tax on the remaining fixed assets. Combined, couples can currently benefit from an inheritance tax threshold of £650,000 at present, assuming that neither you nor your partner can utilise other exemptions.

We should note that in 2017, the UK government will phase in another tax free band for your main residence. This will initially be set at £100,000, rising to £175,000 in 2020, so you may be able to bequeath £500,000 before inheritance tax. You can further shield your assets via other exemptions, but many must be deployed seven years before your death, so it is wise to plan for inheritance tax now. Turner Little considers ways to mitigate the effect of inheritance tax on your estate.

Wednesday, 14 September 2016

Tax Guide For Sole Traders

If you register as a sole trader, you will be required to fulfil certain legal obligations. This includes paying tax to HM Revenue and Customs (HMRC). Turner Little has created a  Tax Guide for sole traders which is available on the Turner Little Blog.

Tuesday, 13 September 2016

What Are The Benefits of Establishing a Trust?

If you want to protect your finances long-term, you may want to think about creating a trust. A trust is a legal vehicle designed to hold assets or property, which provides a range of advantages when it comes to wealth management. Turner Little asks: what are the benefits of establishing a trust?

Wednesday, 31 August 2016

Considerations when Choosing Office Space

It is vital that you opt for space in a good location. By pursuing this strategy, you will ensure that your employees can travel to work easily, increasing your chances of attracting top talent. the right office space to operate from, as this can make the difference between failure and success. Turner Little outlines the key considerations of choosing your business’ first office space.

Read the full article on the Turner Little blog.

Tuesday, 30 August 2016

When Is The Best Time To Create Your Company?

So, you have developed a fantastic business idea and found your target consumer, so now you want to turn it into a start-up. But, when should you do it? Is there a right time to form a limited company?

Turner Little look into this further on the Turner Little Blog.

Monday, 22 August 2016

Managing a Company Email Addresses

It is vital that you set up an email address for your business, so customers, clients and suppliers can contact you easily online. If you have created a website for your firm and registered its domain name, which Turner Little can help you with, the process of creating one business email is fairly routine.

Read the full article on how to manage the email addresses in your company on the Turner Little blog.

Thursday, 18 August 2016

Reforms on Employee Tax Reduction Scheme?

HM Revenue & Customs (HMRC) recently launched a consultation on reforming the salary sacrifice schemes that companies across the UK utilise to reduce their employees’ tax bills. 

Turner Little have decided to look into this potential reform further. The full article can be found on out blog in the article entitled 'HMRC Considers Reforming Employee Tax Reduction Scheme'.