We have a big decision coming up, as a country on whether to say in Europe or go our own way.
In many ways since the last two budgets of March ad July, many company directors should be considering a sim
ilar thing. Whether to remain operating their businesses as a
company or disincorporation and returning to Sole trades or partnerships.
Over the past 10 years or so it has been a relatively simple decision to incorporate your business. Mainly from the limited liability cover it provides but also from the attractive tax saving possibilities it provided.
Now that Her majesty’s Government have taken some significant steps to removing those advantageous tax savings away, is it still right for you and your business?
Circumstances are different for every business and so it is vitally important to be having a conversation with your accountant to see if things are set up to best suit your needs both now and for the future. Comparisons should be made between being “In” or “out”.
One of the most important goals of our practice, is to try to ensure we “Know” our clients and so we can understand what you want and what your expectations are. If you have not had a good chat with your accountant for a while, perhaps now would be a very good time to do so and of course we would be happy to have a free meeting with you if you wanted a completely new opinion from someone outside of your business and its history.
There is no obligation to change anything, much like this referendum. We can stay in and carry on or opt out and try something new.