Before the invention of the joint stock company investors were on the line with their personal wealth and possessions if trading went sour on them. Then the Limited company was invented and so lax were the provisions at first that there were many major scandals where owners of companies walked away from the company’s liabilities. (more…)
In our articles about LLP and the Benefits of Incorporation we outlined good reasons for setting your business with a formal legal association. Now, here’s a lighthearted look at how Gilbert & Sullivan saw the process and consequences of incorporation, with musical accompaniment (needs Flash plugin) :
Following a politically turbulent week, Chancellor Alistair Darling has presented his first Pre-Budget Report to the House of Commons.
While acknowledging recent uncertainty in the global markets, Mr Darling emphasised that the UK economy remained strong, and that the Government had met all of its fiscal rules. Notwithstanding this, the Chancellor revised economic growth forecasts for 2008 downwards, from 3% to 2-2.5%. (more…)
At present Facts & Figures are seeking to recruit a practice manager for our busy accountancy practice. Based in Edinburgh the role would suit a person with a business related degree who is looking to complete a qualification in accountacy or taxation. The main responsibilities are: (more…)
When you consider buying a residential buy to let property, you should be aware of the tax implications. Usually there will be income tax, payable each year based on your net property income and capital gains tax, which is payable when you sell the property and is based on the sale proceeds of the property less the cost of the property.
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Has your accountant mentioned limited liability partnerships? If not, why not?
Limited liability partnerships are incorporated under The Companies Act and so are technically companies. However, the members of the LLP are treated as individuals for tax purposes rather than as employees. (more…)