Paul Whitney

IP3 Tax has customised tax solutions for your business. We help business across the UK with a full range of Accountancy Solutions to help your business in a range of market sectors. We are priced competitively and our service level is second to none. If you would like to find out more get in touch on 0121 728 5653 or visit www.ip3tax.com for a FREE consultation. #business #entrepreneurship #businesswoman #businessowner #businesslife #marketing #entrepreneurs #entrepreneurlifestyle #businesswomen #entrepreneurlife #businesstips #money #businessopportunity #businesscard #businessmen #successquotes #ambition #businesses #grind #motivational #entrepreneurquotes #entrepreneurmindset #shahcoach #moneymindset #businesscoach #taxadvisor

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Did you know we can review your business structure❓ Get in touch👇 [email protected] We are experts in guiding businesses and can review all the advantages and disadvantages of running your business as a sole trader, partnership or limited company.👍 We’ll consider the various tax implications, but also the commercial issues that can sometimes be important.✅ Give us a call today to find out more: Morecambe 👉01524 566190 Leyland 👉01772 984 985 - - - #VerveAccountancy #Morecambe #Leyland #BusinessStructure #AccountantsUK #ReviewBusinessStructure

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Who Our Tax Planning Tips Are For (and Who They’re Not For) Are you a small owner-managed business in the UK looking to optimise your tax planning? Our latest blog post is tailored specifically for YOU! **Who This Is For:** ✅ Small business owners managing their own finances ✅ Entrepreneurs operating from home ✅ Business owners seeking to maximise tax deductions and reduce liabilities ✅ Those who want to better understand mileage claims, capital allowances, and more **Who This Is NOT For:** ❌ Large corporations with dedicated finance departments ❌ Businesses with complex international tax structures ❌ Owners who do not manage their day-to-day finances Our comprehensive blog covers everything from home office deductions to capital allowances, ensuring you’re making the most of your tax benefits. Don’t miss out on valuable tips to keep more of your hard-earned money! 👉 Read more:https://lnkd.in/ekWCaCF6 #TaxPlanning #SmallBusiness #MicroBusiness #UKBusiness #FinancialTips"

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Today, I comment on how important it is to regularly review your sales and purchases ledgers for accuracy. Automation can do a lot of work for you now however casting your eye over the balances in your accounts is very good practice. If this is something you'd like help with, please get in touch.

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EOTs offer a compelling, tax-efficient exit route for business owners. Under current UK tax laws, selling a controlling stake in a company to an EOT can be free from CGT, providing substantial tax savings. Beyond the tax benefits, EOTs can ensure the business’s continuity, preserve its culture, and reward employees. We assist in structuring and implementing EOTs, ensuring compliance with legal requirements and alignment with the owner’s objectives. This process includes setting up the trust, transferring ownership, communicating the benefits to employees and tax clearance and correspondence with HMRC. To conclude this particular section: For many business owners, an EOT creates two significant tax breaks. First, the ‘headline act’. Shareholders selling their shares may do so free of capital gains tax. Second, once a company is owned by an EOT, it can pay annual bonuses to its employees free of income tax. To qualify for these tax breaks, two main conditions must be met. The trust must hold more than 50% of the shares in the company. Additionally, if employees receive any benefit from the trust, all employees must be included and on the same terms. ASWATAX #employeeownershiptrust

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BUSY BUSY morning today on a webinar with some Interior Designers in partnership with Polly Williams at Camberyard 👍👍 Explaining how getting the basics in place in respect of their accounting and bookkeeping is KEY to success in their business ! 🌸 Simplify the admin and compliance with HMRC - which is NOT in any creative … 🌸 Know all the basics in your business so you have some understanding of what’s happening 🌸 Remove the Fear of HMRC - nothing to fear but do your compliance quickly and then get back to your clients !! 🌸 Get your Xero or Quickbooks in place PROPERLY 🌸 Keep your Bookkeeping up to date - llittle and often is enough but BEWARE of leaving it to 200/300 transactions after ignoring it for weeks 🌸 Ensure you know enough to take decisions on your business, make a profit and improve on your pitches & quotes That’s it for every business (and not just Interior Designers) get the basics right and you have the foundation for your business in place …..🎉🎉🎉 NEXT Webinar at the end of October (Tips on Pricing, Pitching and Profits I think ) 🤔

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The potential rise in CGT rates can make the idea of accelerating a business sale appealing. Business owners may want to lock in current, lower tax rates to maximise their post-sale proceeds. However, hastily selling a business can lead to undervaluation, missed opportunities and suboptimal outcomes. It is essential to approach the sale process with a well-thought-out strategy that maximises value and ensures alignment with long-term financial goals. Tax and structure play a key role in such transactions and therefore, advice must be sought as early as possible. ASWATAX #sellingabusiness #taxadvisory

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Your full Budget Breakdown..........I am happy that I chose to specialise in VAT 🤩   What did Rachel Reeves announce in Labour’s first Autumn Budget for 14 years?   And what do those changes mean for you and your business?   We’ve wrapped everything you need to know into one handy document: https://lnkd.in/ePZrjsW7   The perfect read before this evening’s Halloween and Diwali celebrations commence 🎃🎆   #AutumnBudget2024 #BudgetUpdates

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How Our Client Saved £186k from Inheritance Tax: Complimentary Review: Following our complimentary second review of their tax situation, the client engaged our services. Property Portfolio Growth: The client aimed to expand their property portfolio for long-term wealth preservation and legacy planning. Identifying Tax Implications: We identified the potential inheritance tax implications, particularly given the appreciating value of the properties. Mitigating Strategies: Through strategic restructuring of corporate entities and meticulous tax planning, we devised effective mitigation strategies. Reduced Inheritance Tax Liability: Our comprehensive approach resulted in a substantial reduction of the client's potential future inheritance tax liability. Total Savings: In total, our client saved an impressive £186k from their inheritance tax obligations. By aligning our expertise with the client's long-term objectives, we not only safeguarded their wealth but also facilitated their legacy aspirations DM me "Second Opinion" for a FREE Second Opinion Call

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Full expensing allows for a 100% first-year capital allowance for qualifying plant and machinery assets and came into effect last April. To qualify for full expensing, expenditure must be incurred on the provision of “main rate” plant or machinery. #FullExpensing #TaxAllowances

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Budget 2024 Are you ready to play the game from a different angle.....The UK tax system is designed to take as much as possible from you and your business. The way to mitigate this is by playing the game from a different perspective... For a fresh look at your business....get in touch for a FREE consultation www.IP3Tax.com Complete Tax Intelligence #business #entrepreneurship #businesswoman #businessowner #businesslife #marketing #entrepreneurs #entrepreneurlifestyle #businesswomen #entrepreneurlife #businesstips #money #businessopportunity #businesscard #businessmen #successquotes #ambition #businesses #grind #motivational #entrepreneurquotes #entrepreneurmindset #shahcoach #moneymindset #businesscoach #taxadvisor

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At Breaking the Mould Accounting, we are receiving more and more enquiries from UK residents considering moving to Guernsey from the UK. If you are considering moving to the Channel Islands and want to understand the tax rules in the UK and Guernsey or Jersey, you need to know. ⛳ how to become a non-resident from the UK 🏑 the rules to follow to remain non-resident, 🏏 what the tax position will be in Guernsey 🎣 practical implications of moving to the Channel Islands 🎨 How to not get caught as a resident in both jurisdictions (yes, that is a thing if you don't plan correctly) We will prepare a detailed report tailored to your circumstances and will arrange an online call to discuss it. PS The emoji represents some of the activities you can take up when you save on your commuting time.

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We offer advisory services.. we can help you run and grow your business with our dedicated FD/CFO Service. How about that?! 💥Not sure what to do to grow? 💫Struggling with the admin of running your own company? 💥Can't work out if you've made a profit? 💫Is your bank balance not going up? 💥Are you struggling to pay your VAT or CT bill? 💫Are customers not paying on time? 💥Is your purchase ledger overwhelming? 💫Do you need to employ more staff? 💥Are suppliers ringing and chasing payments? You really do need to know why...don't leave it to chance. Things like this don't fix themselves. Project work or monthly support available.

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NEW IHT100 FORMS FOR INHERITANCE TAX Previously, for reportable transfers, an IHT100 form had to be submitted along with a separate 'event form' specific to the transfer in question. However, these forms and the associated IHT100WS worksheet have now been discontinued and replaced by standalone event forms tailored to the particular chargeable event being reported. Going forward, only the relevant IHT100 event form and any necessary supplementary schedules (e.g forms D31 to D40) will need to be submitted. Additionally, a new IHT100h form has been introduced to report assets leaving an 18-25 trust. The current list of IHT100 forms is as follows: IHT100a: Gift or other transfers of value in a trust. IHT100b: End of a QIIP. IHT100b: End of a QIIP due to death. IHT100c: Exit charge on assets in a trust. IHT100d: IHT on the 10-year anniversary of a trust. IHT100e: Charges on special trusts. IHT100f: Ending of a conditional exemption. IHT100h: Assets previously held in an '18 to 25' trust. These forms are definitely not DIY so reach out if you'd like my support. ASWATAX #inheritancetax #hmrc

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The upcoming Autumn Budget is making some businesses nervous. Right about now, your accountant should be working with you to help you weather the storm. If you're looking for a helping hand, give me a call on 01208 74615. #planning #autumnbudget #accounting #Cornwall #Bodmin

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Boost Your Small Business with Powerful reviews: A Step-by-Step Guide to Building Trust and Driving Sales

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I have my contacts/clients advising ME on tax these days... 🙈😱😱🤣🤣🤣 On a serious note, expats and non-domiciled individuals should speak to me BEFORE investing in UK property. 😜💯👍 We have extremely tax-efficient solutions we can explore and mould into your circumstances and strategy moving forward. ASWATAX #taxplanning #taxadvisory

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Sponsorship announcement!!!! 🎉🎉🎉 Fathom - all in one reporting, analysis and forecasting Honestly, your business can do so much better with cashflow management. If you are a business that wants a system overhaul, then please get in touch! I am excited to see where all this tech can take our businesses. Without knowing exactly where you are going then you will struggle to get there! Fathom brings great conversations with real time data! Really visualise what your message is, where you want to be.... Don't underestimate what you can achieve! Get in touch if you want me to tell you more....link to website in the comments 🙌

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