Author Archives: MullenStoker

Retirement may be a long way off, but when it does come time to leave your business, you want to ensure it is in the best shape it can be. And that requires some forward planning. What is an exit strategy? As a business owner in the UK, it's essential to have a plan for […]

Starting up your own business may be the dream, but is it right for you? We look at some of the pros and cons of going it alone. Making a change Self-employment and traditional employment have their benefits and drawbacks. Choosing between them requires careful consideration of individual circumstances and preferences, including financial implications. Taxation […]

There are a number of reasons why you may look to close your limited company. This could be because the limited company structure no longer suits your needs, your business is no longer active, or the company is insolvent. You will usually need the agreement of all the company’s directors and shareholders to close down […]

The changes to VAT penalties from 1 January 2023 will affect everyone who submits VAT returns, including nil or repayment return. The default surcharge regime has been replaced by a new penalty system with different penalties for late submission of VAT returns and late payment of VAT. It’s also changing the way interest is calculated […]

The Bank of England’s Monetary Policy Committee (MPC) met on 2 February 2023 and voted 6-3 in favour of raising interest rates by 50 basis points to 4% in a move to try and continue to tackle upward pressures on inflation. This is the tenth time in a row that the MPC has increased interest […]

The annual exempt amount applicable to Capital Gains Tax (CGT) is to be more than halved from April 2023. This means that the exempt amount will be reduced from £12,300 to £6,000 from April 2023 before being further reduced to £3,000 from April 2024. Taxpayers with small gains should consider the benefits of crystalising these […]