Turner Little’s guide to offshore savings accounts

Offshore savings accounts are familiar to most people through media reports of celebrity scandals involving tax avoidance. However, the reality is that offshore account holders do have to pay tax, but there are other benefits that make them a good option.

Contrary to popular opinion, you don’t have to be massively wealthy to take advantage of these benefits. We’ve put together a quick guide to offshore savings accounts.

Turner Little on how small businesses are demanding tax compliance reform

Research has shown that the average small business owner is spending £5,000 and an astonishing three working weeks on tax compliance every year. This has prompted representatives of small companies in the UK to demand reform.

Read the article in full on the Turner Little Blog.

Turner Little on why you need permission to run a business from home

If you’ve been thinking of taking that step and starting a business from home, you might be unsure of the regulations surrounding such a venture.

For example, do you know that you need permission to work from home from various authorities? Lots of people don’t realise this initially so we’ve put together a quick guide to gaining the correct permission for running a business from home.

Read the article in full on the Turner Little Blog.

How to get your business financially fit in six steps

At Turner Little, we can help with different aspects of setting up your business, from financial advice to more complicated planning. Here are our sure-fire steps to achieving a financially stable business in 2018. Follow these good habits and you’ll be on your way to a lean, mean, fighting fit business.

Read the article in full on the Turner Little Blog.

Turner Little explains ‘Power of Attorney’

It’s a phrase most people have heard of, but do you know exactly what ‘Power of Attorney’ means? We’ve put together a handy breakdown of what it could mean for you and your family.
In simple terms, Power of Attorney is a legal document in which one person (known as the ‘donor’) gives other people (their attorneys) the right to act on their behalf.

There are different types of Power of Attorney, depending on how long you want it to be in action. An Ordinary Power of Attorney is a temporary convenience, while longer-term arrangements are known as Enduring power of Attorney (EPA) or Lasting Power of Attorney (LPA).

Read the article in full on the Turner Little Blog.

Turner Little’s view on why you should consider setting up a trust

Trusts can be confusing, and with so many variations around it’s not easy to work out which you need, or whether you need one at all. The factor that differentiates trusts is the reason for them being set up in the first place.

It’s important to understand the purpose of a trust before it’s set up, and whether the agreement is what you need. At Turner Little, we can help you choose the right trust for your purposes. We’ve come up with reasons why you should think about setting up a trust.

Do you have a will? Almost two thirds of adults in the UK don’t…

While everyone is aware that making a will is necessary, most people leave it on their ‘to do’ list. Research shows that almost two-thirds of UK adults don’t have a will, which means their estate could go to someone they haven’t chosen after they die. An estate covers more than you think – it’s not just property and money, it also includes all possessions and even dependent children can be involved.

At Turner Little, we know how important it is to have a plan in place for after your death, and we also understand it’s not always a priority for people busy with day-to-day life. Here’s why you must start planning for your dependents after your death.

Turner Little lists the seven Inheritance Tax exemptions you need to know about

It’s important to make the most of limiting potential liability when it comes to your Inheritance Tax (IHT).

IHT affects more people than ever, because the threshold has stayed the same since 2010, while house prices have continued to rise. This has shifted the focus of IHT being more of a very wealthy person’s problem to it affecting middle class families too.

Learn about the 7 Inheritance Tax exemptions you should know about.

Turner Little on why SMEs often pay more corporation tax than they should

You may assume that SMEs would pay comparably less corporation tax than larger businesses. However, information from accountants Moore Stephens found that they paid more in 2016.

The corporation tax paid by SMEs in 2016 was 21.7% while businesses that have a turnover of more than £1bn paid an effective corporation tax rate of 20.1%, showing a reversal of previous results.

Read why SMEs often pay more corporation tax than they should in full.