Stamp Duty rundown | 8 July 2020

Further to the news today the Chancellor, Rishi Sunak has implemented an immediate cut in Stamp Duty Land Tax (SDLT) until 31 March 2021 by increasing the threshold to £500,000, it is ideal timing to provide a reminder of SDLT rates plus situations that give rise to potential refunds of the additional 3% rate (read to bottom). The announcement today provided other details such as a £1,000 incentive to retain a staff member at the end of the furlough scheme

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Business owner: is your personal life cover going through the business?

Did you know as a director of a limited company you could be making business and personal TAX SAVINGS on your own life insurance (ie. mortgage cover) if you are currently paying for it personally. All too often business owners are missing out on the tax relief available to their limited company that can be achieved with a relevant life plan for themselves or for employees, as opposed to private personal life cover. The premiums are paid for by the

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You could get a quick and easy tax rebate if your spouse is earning less than £12,500

If you are married, or in a civil partnership and one of you earns nothing or £12,500 per year or less you could claim a tax refund.  Everyone has a personal tax allowance which is the amount an individual can earn tax free in each financial year.  When one of you is not using all of this, the marriage allowance enables you to transfer up to £1,250 to your husband, wife or civil partner, if they earn more than you

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Chiefs, are you looking for a “how” process to make your key business decisions….?

Small business and start-up owners are more likely to make big decisions based on gut feel, at times you need to make a fast decision and that works well. However as your business grows and changes; and by that we mean – more product/service offerings, team members, turnover or has just been around longer, it’s likely that that method no longer works. You and your business arena have become more complex. That’s why you NEED this template in your arsenal.

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Small business owner – who’s your ZEBRA?

Have you got a clear description for you and your team that identifies and details your ideal client / customer? This is truly a key exercise (and it doesn’t take long) for ensuring you focus on the ROUTES to success of your business. This is a theme we have blogged on in the past but with the current economic climate (recession) it is possibly even more relevant. We are hear that so many businesses’ main goal is growth, forget that

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Are you in a relationship with a business owner?

For better or worse you may be married to a UK small business owner. It’s a special club, with highs and lows, and definitely an interesting ride. At times you may feel as though he’s only interested in the company and not you, but believe us, in 99 per cent of situations this person is building this for the best for their family, for your security and future. You of all people will notice the changes in your partner, from

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Is your UK small business fit enough to survive through and beyond COVID-19?

As a small-business owner, you can get ahead and help lead the way out of what is going to be a longer term coronavirus pandemic created recession. Here are 10 key rules which if you haven’t done them already will help you successfully remodel your business and succeed in the new economy: Identify and eliminate debt and claim Government Support (see our other posts). If your sales have dropped, you may not be able to service the debt you took

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COVID-19 Government support for small businesses – updated 2 April 2020

Further to our last post release regards support in this coronavirus crisis see updates below: £10,000 Grants – if you are a business paying little or no business rates, your local authority will be in touch in due course to advise on this initiative – you cannot do anything to claim it at present. Local authorities will write to qualifying businesses at their premises in the next couple of weeks or you may be able to complete an application form on

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COVID-19 What key support is available for UK businesses

At this point in the Corona Virus crisis there is a lot of information being provided in the public arena about what small businesses can claim on a daily basis to business owners and employees.   We are summarising the key initiatives for the ease of our SME business owner clients, as to the current status of such announcements:   £10,000 Grants – if you are a business paying little or no business rates, your local authority will be in

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Current Issues: Fraudsters taking opportunity to strike over coronavirus

Be aware that fraudsters are now acting as World Health Organisation (WHO) over Coronavirus in order to obtain personal details. Criminals are disguising themselves as WHO to steal money or other  sensitive information. If you are contacted by a person or organisation that claims to be from WHO, verify their authenticity before responding. Read more at: https://www.who.int/about/communications/cyber-security This reminds us how important it is to protect our own data, business or personal and we think Coutts sum up it well

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