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UK residents, whose Swiss banking arrangements have been disclosed to HMRC under the UK/Swiss tax agreement, have started to receive follow up letters from HMRC.  Earlier this year account holders were given a choice: To pay over a fixed percentage of their account balance to compensate for tax previously unpaid. Or, to authorise their Swiss Bank to disclose their account Continue Reading

Planning to sell your business is not a process for the faint hearted. You have likely spent many years building your business and the last thing you want to face is losing a large proportion of the sales proceeds to tax or worse, being unable to enforce payment of what is due to you because of contractual difficulties.  This is Continue Reading

Cast your mind back when Members of Parliament were accused of “flipping” properties to avoid Capital Gains Tax on the sale of a second property? Theoretically, it should be possible to buy a second home, live in it for a short period, and as long as certain procedures are followed, have the last three years of ownership ignored for CGT Continue Reading

The UK's small and medium sized enterprises (SMEs) could be losing up to £3.7 billion as a result of poor internal systems and financial accounting, according to a recent survey by business software provider Exact. Some SMEs admit to failing to invoice for services worth more than £10,000. The nationwide survey found that: One in five SMEs have forgotten to Continue Reading