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If you ever considered buying a business and operating it as an LLP then this case study with our LLP client Wolfgang Capital can help you answer some questions about the process. Wolfgang Capital is an M&A investment company that focuses on operational profitability and cash flow by investing in...

If we were to ask you “What links Lawrence of Arabia, Edgar Allen Poe, and AC/DC?”, we expect you might be left stumped. Yet there’s a perfectly plausible answer in the “horror/comedy/musical road movie” known as Eldorado, alternative title Highway to Hell: Peter O’Toole narrates the film, it opens with...

LLP members (partners) are self-employed, which means they don’t qualify for Statutory Maternity Pay but can still receive Maternity Allowance. To receive Maternity Allowance, you’ll need to fill out an application. We’ve outlined below what steps need to take place in order to receive this financial support. Applying To apply...

VAT-registered businesses are required to submit VAT returns four times per year. You can, however, sign up for the VAT Annual Accounting Scheme if you are eligible (and it is worth your time). You will only have to file a VAT return once a year under this scheme. The scheme’s...

Making Tax Digital (MTD) is part of the Treasury’s vision to digitalise the UK tax system, which simply means that businesses must ensure that they maintain digital accounting records as opposed to continuing to do tax-related activities on paper. Hopefully, going forward, this will improve the speed and efficiency of...

Awesome! I Survived the pandemic restrictions to my business, I broke even and haven’t got any tax to pay! Or have I? To explore the subject of tax to pay, let’s drill into the numbers a little bit. Here is our imaginary company, Wobbly Candles Ltd. We buy and sell...

This is the first piece in a three-part series on our blog, shedding light on the creative industries reliefs made available to create content that is predominantly generated within the UK, checking out case studies where available, and perhaps looking at how things could be amended/improved. We kick things off...

Are you looking for a new way to incentivise your employees?  A key part of restructuring your SME into a limited liability partnership (LLP), is having everyone share proportionately in the business’ success and profits. Essentially, having a profit share model in place. The best part about profit sharing is...

As a small business owner you probably dread the thought of HMRC opening an enquiry on your business’ VAT returns. Over the last ten years we’ve assisted our clients with numerous routine VAT enquiries, and on the whole, we’ve found HMRC’s VAT officers to be supportive and helpful throughout the...

In the UK today, most people work in service-based and knowledge-based industries. These are industries which deal in intangible assets such as intellectual property: knowledge and know-how, patents, trademarks, copyrights and brands. This wasn’t always the case, but the pace of change has been accelerating. It’s only in the last...

Have you thought about switching your business structure from a limited company to a limited liability partnership but you kept running into these three concerns: “It won’t work for my business because we are too big.” “The industry we are in, I just don’t see it working…” “Management wise, what...

The concepts of group structures and holding companies sound very corporate. Like, really, obnoxiously corporate. The idea of having several companies owned by another company which, in turn, is owned by a bunch of shareholders can be daunting. And that’s not even mentioning the extra statutory burdens it seemingly places...