Starting a business

Things to consider when starting a business. Last year 608,110 businesses were incorporated according to data from Companies House. This is a year-on-year increase of 26,937 on the 581,173 businesses started in 2014. However, figures from the Office for National Statistics show that 55% of new businesses fail within 5 years. In order to avoid… Continue reading Starting a business

IHT and the nil-rate band

A detailed guide to the residence nil-rate band for inheritance tax. The rise in property prices throughout the UK means that even those with modest assets may find that their estate exceeds the £325,000 nil-rate band for inheritance tax (IHT). The percentage of properties sold for more than £325,000 has doubled since the current nil-rate… Continue reading IHT and the nil-rate band

Autumn Statement 2016

Chancellor Philip Hammond is due to deliver his Autumn Statement on 23 November 2016. Speaking at the Conservative party conference in October, Hammond said the government will prioritise spending on housing and business investment to boost the economy. Here is a round-up of some of the potential measures that could be announced.

Businesses lack export ambition

Most businesses don’t currently export and don’t intend to start, according to research by the Institute of Chartered Accountants in England and Wales (ICAEW). 69% of businesses have never traded overseas and have no plans to do so in the future despite high-profile government campaigns.

Pension reforms could cost £5 billion

The pension reforms introduced by George Osborne could cost £5 billion and push house prices up in the long term, according to the Office for Budget Responsibility (OBR).