Entrepreneurs' relief is in its third year with the lower 10% rate on the first £10 million of business asset disposals still in effect, giving rise to a maximum reduction of £1,800,000. This is a lifetime allowance that reduces the tax charge on the gain for owners of limited companies on the disposal of shares and securities in a company. However, conditions do apply so please contact us for further advice.

The UKs small to medium sized enterprises (SMEs) could be losing up to £3.7 billion as a result of poor internal systems and financial accounting, according to a recent survey by business software provider, Exact. Some SMEs admit to failing to invoice for services worth more than £10,000. The nationwide survey found that: