Entrepreneurs' Blog

Posts Tagged ‘Tax

Businesses need cash to be able to pay staff on time, buy supplies, repay debts on time and to pay dividends etc. If you don’t have cash to pay a supplier when the payment is due, you might find you lose the trust of the supplier and the outlet AND they may declare your business insolvent.

Measuring the finances of your business is an essential part of managing the business and is a critical element of sound decision-making and future planning. Many business owners delegate the financial matters to other Directors or to their accountants and often cite that they “prefer to look after the sales function or the front line team.”

When tax planning it is very important to give equal consideration to business and personal tax affairs. Taking a ‘holistic’ approach may sound a bit ‘airy-fairy’ but it makes a very concrete difference between incurring tax unnecessarily and paying the legal minimum.

‘DC’, business owner with an annual turnover of £5.5m asked: “After the budget, tax planning is changing again yet what is the best way to avoid paying Tax on profit in a Ltd company? Is a pension contribution as good as anything else or an EBT contribution? Any suggestions?”

Some commentators have argued that the forthcoming changes to CGT have been on the cards for some time, although during the Election campaigning it was only the Lib Dems that formally announced their intentions. Subsequently incorporated into the new coalition government’s policies, we can expect CGT rates for top earners to more than double for [...]

  • Morgan Grage: I like this post, enjoyed this one regards for putting up. "No man is wise enough by himself." by Titus Maccius Plautus.
  • Derek: Brilliant article Bev, thanks for sharing. coincidentally the kilimamjaro example used is on my 2014 to do list! Ps thanks for the tips you gave me
  • jackson: thanks for your great article about developing your business idea to great business Jackson mutebi

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The Entrepreneurs' Business Academy is a unique and highly practical one stop resource for business owners and aspiring entrepreneurs, providing a range of courses , EVENTS and materials that give step-by-step guidance for entrepreneurs on their business journey. The EBA's courses have been put together by James Caan and Bev James MD of EBA and The Coaching Academy, and specifically designed to teach its participants the skills required to take an idea and turn it into a reality. Read more...


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