Brexit & your Personal Tax
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BREXIT & YOUR TAX
It has finally happened; a forty-year romance has ended. Britain has decided to call it a day, and as of June 24th, would no longer be a part of the European Union.
This monumental event has sent, and continues to send, shock-waves across the industries, paradigms and systems that govern our day-to-day life. Leaving most, if not all, wondering what the impact would be on their trade.
Of all the unclarity caused by Brexit, the one aspect that has raised the most eye-brows, and which affects us, both, personally and in-business, is that of tax.
Over the coming months, As the UK government gears to put the exit-device Article-50 into practise, in this two-part series, we examine and speculate as to how the Brexit-vote will impact your taxes.
New Pension Law
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How the new Auto-Enrolment Pension Rule will Affect You
After several years of contemplating, the UK government realised too few workers and employees were contributing to a private pension for their retirement.
Hence new laws came into place to ensure all company employers, regardless of the size of their business, enrol their staff into a registered pension scheme.
This is the biggest shake-up of the UK pension system in over 60-years, and has wide-ranging implications for businesses and business owners.
Your Lesser Known Weapon Against Tax
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Tax Weapon
Trading as a limited company has come a long way. As more and more one-man shows begin to set their trade up as a limited company, so too the inherent tax benefits offered by the corporate structure become evident.
As has widely been understood, as a self-employed, any monies withdrawn from the business belongs to the owner of the business; as the business is under the trader’s name, and all liabilities of the business vest with him.
However as a limited company,
Coffee & Tax
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How Starbucks sidelined Paying Tax
It wasn't long ago where a cup of coffee was a simple combination of powdered beans, water, milk and sugar. However just as the process of grating coffee-beans has evolved over time into a refined mechanical process, so has the cup of coffee.
Now, coffee is centre-stage of a global tax controversy, with its tentacles spanning three different continents, and enraging nations of steady tax payers.
Though being splashed across the media and well documented, we delve deeper into how one of the most well-known coffee-chains in the world avoided paying a penny tax, while being in operation for over fifteen years.
HMRC Recoup a record £21 billion
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HMRC's RECORD RECOUP
HM Revenue & Customs clawed back a record £21 billion from businesses, tax-payers and others in the UK this year.
This was part of the huge clampdown campaign on the part of HMRC, which commenced last year.
The Secret Sauce
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Nando's Net Profit
Johannesburg South Africa has had a long history of settlers migrating to its sunny coasts in search of its riches and gold. Right from the discovery of diamonds under its sandy shores 1867, the city has had a tradition of attracting entrepreneurs from all around of the world in hopes of building their own fortunes. The same held true for two Portuguese-Mozambicans who had come to the same shores as Cecil Rhodes and Barney Barnato (founders of diamond conglomerate De Beers) in search of their
own fortune.
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