Tuesday July 27, 2010 at 12:41pm
Cash - you can never have too much, but you can often have too little. Staying on top of cash flow is critical for every business. These 10 tips will help you boost cash flow.
Invoice as soon as possible. It’s far better, from a cash flow point of view, to bill throughout the month than stick rigidly to one billing day, often at the end of the month.
Give it focus. Cash flow is the most important element of your business. Don’t delegate the task and ignore progress.....
Wednesday July 14, 2010 at 11:28am
As accountants working with entrepreneurs and the owners of family businesses we come across all sorts of businessmen and women. Many run excellent businesses and build a legacy they are able to leave to their families alongside sufficient wealth for themselves to allow them to live a prosperous life in retirement. We’ve noticed however that those who succeed when it comes to exit planning take a very proactive and positive approach to business and strategic planning. Those who are less su....
Tuesday July 6, 2010 at 11:23am
Discretionary trusts can be a good way of avoiding inheritance tax on your capital. They can also allow you to exert control over the trust assets by being a trustee.
However, there is an entry tax (or chargeable lifetime transfer) of 20% on all transfers that exceed an individual’s inheritance tax nil rate band (£325,000 in 2009/10 tax year). This can be a major obstacle where assets exceed this amount.
Normally a gift into trust is still chargeable to inheritance tax in the fir....