Whilst it is possible to involve your children in your business, this is a strategy that should be approached with caution. Giving shares in your company to minor children is perfectly possible, but any dividends that you pay to under eighteens will be treated as…
Month: August 2017
Organising a trading name for your company
We are often asked to register a trading name for an existing company. Usually, this is done so an incorporated business can develop a new brand with a name that is different to their existing company name. Unfortunately, there is no formal process that can…
Saving to pay tax
If you are employed, or receive a pension from a non-State provider, any tax you should pay is probably deducted before payment under the PAYE rules. Assuming HMRC administer this process correctly, any taxes due should be settled in full. However, the self-employed, those in…
Dying without a Will, bad idea
Many people die without making a Will. In legal terms, this means they die “intestate”. When this happens, the estate must be shared out according to certain rules. Individuals who may benefit under these rules are: Married partners and civil partners at the time of…