How to Use Trusts for Inheritance Tax Planning

You may wish to safeguard your estate from inheritance tax, to ensure you can financially provide for your loved ones, after you pass away. You can utilise legal vehicles called trusts strategically for this purpose. Turner Little explains how to use trusts for inheritance tax planning purposes.

Read How to Use Trusts for Inheritance Tax Planning on the Turner Little blog.

Turner Little: A Guide to Accounting Reference Dates

If you form a limited company, you will take on a range of duties in your capacity as director. You will be responsible, for example, for fulfilling your firm’s filing obligations, such as delivering its annual accounts to both Companies House and HM Revenue and Customs (HMRC). To help you file your annual accounts properly, here is Turner Little’s guide to accounting reference dates.

Read Turner Little: A Guide to Accounting Reference Dates on our blog.

How to Get the Best Value from Your Accountant

You should manage your company’s finances carefully, to ensure you have the capital necessary to fund day-to-day operations and expansion. You could hire an accountant, so an experienced expert can handle these duties. Turner Little discusses how to get the best value from your accountant.

Read How to Get the Best Value from Your Accountant on the Turner Little Blog.

SMEs Don’t Understand Business Loan Personal Guarantees

Many small-to-medium sized enterprise (SMEs) leaders take out loans to expand their operations. Traditional financial firms have historically been somewhat reluctant to lend to smaller businesses, due to the high risk involved. However, with the rise of digital technology, there are an increasing number of alternative finance sources for SMEs, making it easier than ever to secure a business loan.

Whether SMEs take out loans from banks or alternative finance providers, they are required to sign ‘personal guarantees.’ In these written agreements, business owners guarantee payment on a loan, should the company not pay. This can put SME leaders’ personal assets at risk. New figures indicate that most UK-based SME heads do not know what a personal guarantee is.

Read SMEs Don’t Understand Business Loan Personal Guarantees here.

Landlords Forming Companies to Avoid Taxes

In April 2017, new tax rules will come into force, which are designed to dissuade buy-to-let landlords from purchasing more residential properties. New evidence suggests that thousands of landlords have decided to form limited companies, in order to avoid these incoming changes to residential property tax rules.

Read the full article: Landlords Forming Companies to Avoid Taxes

Four Considerations of Naming Your Business

When starting a business, it is vital you choose the right name for your firm. With a memorable name, your business can distinguish itself from competitors and develop a robust brand identity, presenting itself as a trusted provider of goods and services to your target market. In order to help you develop a strong name, Turner Little examines four of the key considerations of naming your business.  

Turner Little: Number of Private UK Firms Reaches New Heights

Fresh data from the Department for Business, Energy and Industrial Strategy (BEIS) indicates that the number of privately-owned businesses operating in the UK has now hit a new record high.

Record creation rates Data released in 2015 suggested that almost half of UK adults want to start a business. In this poll, 45% of adults surveyed said that consumer spending habits and improving lifestyle conditions would put them at an advantage if they chose to start their own company. Also Brexit has devalued the Pound, bringing new opportunities for small firms who operate in sectors such as export and tourism.

Read the full article: Number of Private UK Firms Reaches New Heights